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Calculating S.S. benefit at 62 vs 66
On 8/16/2014 2:43 PM, Califbill wrote:
amdx wrote: On 8/14/2014 12:09 PM, Califbill wrote: wrote: On Wed, 13 Aug 2014 22:53:34 -0400, Wayne.B wrote: On Wed, 13 Aug 2014 15:03:13 -0400, wrote: On Wed, 13 Aug 2014 12:37:54 -0400, "Mr. Luddite" wrote: On 8/13/2014 9:50 AM, F.O.A.D. wrote: There are two ways to respond to your assessment. The first is to cast the blame on those who have been successful and demand a cut of the fruits of their labor. The second is to qualify oneself via training and education for the jobs that exist in a highly competitive world ... that is only becoming *more* competitive. For most, the second route was drilled into us as youngsters. Unlike today, we were never taught to "expect" it due to some societal right. The required education may be acquired in many ways. It doesn't necessarily require daddy's fat checkbook. I'd also add that it often takes many years of work to rise to the "middle class" financial category. Some people seem to think it's a "right" and should start as soon as you become an adult. I didn't achieve a "middle class" lifestyle until well into my 30's. If you believe the assessment made by millionaire media and author types, I never have. There is a story floating around the talk shows now that you need $150,000 for the basic necessities of life ... what bull****! === It depends on your life style and expectations. $150K sounds a bit short to me but we probably live better than many. We never made over $100k combined until recently and I don't think we were living badly. We had "paid for" cars, boats and this house. Our daughter came out of college without debt and we actually never owed money for anything but the condo in Treasure Island. I paid it off early and we had that free and clear too. I am also not sure I know anyone who makes much more than $100k, most make less, some a lot less. This is SW Florida tho. I know it costs more to live in other places. I made more than a 100k and the wife only worked part time for a friend. And that was 12 years ago when I retired. I make at least that now with SS a couple small pensions and investment income. At 100k, you're doing very well. My wife and I have a few years before retirement, 59 and 55, If we us the 4% withdrawal rule on our saving and add SS in we should be near $80k. However as we live now, we only spend about $40k a year. We have no debt and haven't for about 23 years. We still have one child left with two more in years of college, so that expense will be gone soon. Recently I ran across this info on net worth, (assets minus liabilities). http://web.stanford.edu/group/scspi/...lth-levels.pdf It is disappointing that 50% of the population has less than $60,000 in net worth. See the lower right chart on the first page. If you have $1.4 million in net worth you are in the top 5%. As they say, “the first millions the hardest” :-) Not touching the ira's until this year. The 70 1/2 rule. For both wife and I. But we paid cash for just about every thing we bought, except the house. First car we financed in years was the wife's Venza. Was less than the return on investments. But we also keep cars 10+ years! and do not need the $500 a day hotel. In the 1980's we were having layoffs at a company. One engineer who reported to me was worried about finances. I said worry about the assembly line ladies who made $20k a year. He made $65k and drove a POS dodge van, and commented his wife had 4 credit cards maxed out. What did he waste money on? It is not just people making $65K, there are people making $250k, and don't save. They could never retire in the lifestyle they have become accustomed to. Sounds like he was following government spending guidelines. I do live in a higher cost of living area, but did not take money out of the house for toys when refinancing, and paid the house off. I see the same thing with a lot of the people around me. I have an acquaintance who's husband is the $500k a year VP of a high tech company. Lake house, $80k African safari this year for the family. $2mm house. One payment from bankruptcy basically. If there was a glitch in the company and he was laid off, how long could he go on severance and savings? Oh, ya, like I said above. I just hope my wife's and my lifestyle has rubbed off on our kids. My daughter is married and we were very disappointed when her hubby bought a new car. The kid was offered a job, and went and bought the car before his first day of work. Bad sign. My daughter bought a house shortly after that, I have this thought that she did that just to put them in debt, so he wouldn't spend any more. She wasn't happy with his poor decision. She's still only 21 years old and has a good job, already got an advancement with a pay increase and company vehicle, and a nice home. Now, if I can just get the son through college! :-) Mikek --- This email is free from viruses and malware because avast! Antivirus protection is active. http://www.avast.com The $65k was in the late 1980's. I started working when I was in junior high school. Making pallets. Piece work. Saved money then. When I went to work at Western Electric warehouse in 1961, I lived at home, and made about $65 a week. Saved. $30 in the credit union. Never saw the money, did not miss the money. Adjusted lifestyle to my take home income. I paid for college educations for my 2 daughters. Paid via credit card as much as I could, and never ran a CC balance. Got miles or rebates for the money spent. I have a friend who runs a donut store. Favorite activity is shopping. She and her husband have a large CC balance. 18-23% financing charge! How you going to save for later years? And how many of those CC bought items will still be in use? Like the advertisements for refinancing your home, and they guy says he took out $100K. Why? As to your article, has a radical error in part if it. States the wealth went down 23% or so. Most of that was in value of the house, and how much had the sales price of the house inflated in the previous 8 year? I could say I lost $300,000 at the of the housing bubble. My hose I paid $139k for 1979, went from $1.2mm to $900k. I really lost nothing. Paper profits, and if I had sold at $1.2mm, I would have had to shell out more for the same amount of house, unless I moved to a lower cost area. Yes it was a bubble, but some may have profited, sell at the peak, rent for 3 or 4 years then buy back for much less. What I don't like is paying my money to someone that bought at the peak, then got upside down, and we (the hardworking taxpayers) bail them out. I have these fleeting thoughts of borrowing against the house for 15 years at 3.5%, with the mortgage tax deduction and inflation, the money would be almost free. Then maybe investing in some dividend stocks or Reits or ??. But, it is nice just owning the home, Err, sharing it with the state, they seem to want a payment every year. That really stinks, you never own your home. Mikek |
Calculating S.S. benefit at 62 vs 66
Kalif Swill rants and raves....
" What a bull**** statement! *A couple hundred a month? *How much would a new starting Crown Corp. janitor make? *How much is rent? Food? Insurance? *Buy a 2 year old Corolla, if you absolutely need a newer car. *How much did it cost you a year for cars the last couple years? *How much did it cost to own a Rav4 for a year or two? *Then trade for a bigger car? *How much is registration on a new car? *Here is $70 plus 2% of the nominal value. *What is registration in Canada? *Where the kid bought the new car, without even starting the job? " Wipe the drool from your chin and we'll discuss this rationally. When I first started work at the crown corporation, I went out and bought a brand spanking new 1972 Volkswagon Super Beetle. Payments were $69.00 per month on a yearly salary of $ 3300.00 I see the auto advertisements from the New England area. Your prices are lower, your incomes are usually higher, your income taxes lower than here. Most people here learn to live modestly.....less on liquor and drugs than y'all so that leaves a but more for the important things. |
Calculating S.S. benefit at 62 vs 66
On 8/16/2014 6:01 PM, Califbill wrote:
True North wrote: FloriduhFunnyMan says..... ". How much would be too much?" For you...$ 1.68 For normal youngins' with a reasonable job, I'd guess a couple hundred a month. What a bull**** statement! A couple hundred a month? How much would a new starting Crown Corp. janitor make? How much is rent? Food? Insurance? Buy a 2 year old Corolla, if you absolutely need a newer car. How much did it cost you a year for cars the last couple years? How much did it cost to own a Rav4 for a year or two? Then trade for a bigger car? How much is registration on a new car? Here is $70 plus 2% of the nominal value. What is registration in Canada? Where the kid bought the new car, without even starting the job? For the amount of driving Donny does, he'd be smarter to take the bus. And it takes him 2 years to go through 12 gallons of gas in his boat. So why does he even own a boat? The guy isn't too bright. -- "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them". Thomas Jefferson |
Calculating S.S. benefit at 62 vs 66
FloriduhFunnyMan sa
- show quoted text - " For the amount of driving Donny does, he'd be smarter to take the bus. And it takes him 2 years to go through 12 gallons of gas in his boat. So why does he even own a boat? The guy is quite bright. " If y'all had to pay our prices for gas you'd try to make it last too. |
Calculating S.S. benefit at 62 vs 66
On 8/16/2014 7:28 PM, True North wrote:
Kalif Swill rants and raves.... " What a bull**** statement! A couple hundred a month? How much would a new starting Crown Corp. janitor make? How much is rent? Food? Insurance? Buy a 2 year old Corolla, if you absolutely need a newer car. How much did it cost you a year for cars the last couple years? How much did it cost to own a Rav4 for a year or two? Then trade for a bigger car? How much is registration on a new car? Here is $70 plus 2% of the nominal value. What is registration in Canada? Where the kid bought the new car, without even starting the job? " Wipe the drool from your chin and we'll discuss this rationally. When I first started work at the crown corporation, I went out and bought a brand spanking new 1972 Volkswagon Super Beetle. Payments were $69.00 per month on a yearly salary of $ 3300.00 Hmm, 25% of your income as a car payment. Seems like a lot to me, but I'm far from the standard in American thought about how to use money. Those numbers tell how much prices change! Mikek |
Calculating S.S. benefit at 62 vs 66
H*a*r*r*o*l*d wrote:
On 8/16/2014 6:01 PM, Califbill wrote: True North wrote: FloriduhFunnyMan says..... ". How much would be too much?" For you...$ 1.68 For normal youngins' with a reasonable job, I'd guess a couple hundred a month. What a bull**** statement! A couple hundred a month? How much would a new starting Crown Corp. janitor make? How much is rent? Food? Insurance? Buy a 2 year old Corolla, if you absolutely need a newer car. How much did it cost you a year for cars the last couple years? How much did it cost to own a Rav4 for a year or two? Then trade for a bigger car? How much is registration on a new car? Here is $70 plus 2% of the nominal value. What is registration in Canada? Where the kid bought the new car, without even starting the job? For the amount of driving Donny does, he'd be smarter to take the bus. And it takes him 2 years to go through 12 gallons of gas in his boat. So why does he even own a boat? The guy isn't too bright. Well he has a short boating season. And my 15 Mariner on a 14' Valco, did not use much gas during an outing. Unlike my big boat. |
Calculating S.S. benefit at 62 vs 66
True North wrote:
Kalif Swill rants and raves.... " What a bull**** statement! A couple hundred a month? How much would a new starting Crown Corp. janitor make? How much is rent? Food? Insurance? Buy a 2 year old Corolla, if you absolutely need a newer car. How much did it cost you a year for cars the last couple years? How much did it cost to own a Rav4 for a year or two? Then trade for a bigger car? How much is registration on a new car? Here is $70 plus 2% of the nominal value. What is registration in Canada? Where the kid bought the new car, without even starting the job? " Wipe the drool from your chin and we'll discuss this rationally. When I first started work at the crown corporation, I went out and bought a brand spanking new 1972 Volkswagon Super Beetle. Payments were $69.00 per month on a yearly salary of $ 3300.00 I see the auto advertisements from the New England area. Your prices are lower, your incomes are usually higher, your income taxes lower than here. Most people here learn to live modestly.....less on liquor and drugs than y'all so that leaves a but more for the important things. Swill? Well mop boy. You were stupid to buy a $3400 car while only making $3300 a year. $69 / month is about what a $3400 car will finance out. My first car was a 1964 Chevy Impala SS. $3371 out the door. $69 a month for 3 years. I made $5500 a year and was traveling to Ohio for a years schooling. Needed a dependable car. And I could have bought less, but cars are my weakness. So with higher taxes, and lower salary, you buy a new car. Stupid. How much savings do you have? How much investment income? How big a percentage did you save during your working years. Or is your Crown Corp. pension most of your income? They live modestly, as they probably did not save. And I bet you and your sone both spend 10 times what I do on alcohol. And drugs are a way for stupid people to get rid of what money they have. |
Calculating S.S. benefit at 62 vs 66
True North wrote:
FloriduhFunnyMan sa - show quoted text - " For the amount of driving Donny does, he'd be smarter to take the bus. And it takes him 2 years to go through 12 gallons of gas in his boat. So why does he even own a boat? The guy is quite bright. " If y'all had to pay our prices for gas you'd try to make it last too. I have paid your gas prices. 3 years ago, I forgot to fill the boat before crossing the border a Blaine. So had to buy the first fill of 110 liters near Telegraph Cove. I still burned the gas, as I want to boat. As the boat transom stated on a sports fisher in Steward, AK. Burn diesel, kill fish. |
Calculating S.S. benefit at 62 vs 66
On 8/16/2014 6:57 PM, True North wrote:
FloriduhFunnyMan sa - show quoted text - " For the amount of driving Donny does, he'd be smarter to take the bus. And it takes him 2 years to go through 12 gallons of gas in his boat. So why does he even own a boat? The guy is quite bright. " If y'all had to pay our prices for gas you'd try to make it last too. Brilliant! -- "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them". Thomas Jefferson |
Calculating S.S. benefit at 62 vs 66
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