Anyone out there drawing a monthly stipend from their Teamster/UPS 401K?

[Jkloc420]

Did you take as early??? What’s the monthly difference between taking it early and waiting til 70 1/2????

i draw from your face repeatedly

 

[IVE GOTTA PACKAGE 4U]

So under 10,000 the gifts aren’t taxed at all???

You still have to pay tax on the withdrawal

 

[Coldworld]

i draw from your face repeatedly

Don’t make me reach through this phone!

 

[Coldworld]

i draw from your face repeatedly

You have no money so get the hell out of here...

 

[Coldworld]

My explanation says if I take the full amount she gets half when I die automatically. There is no option for her to get zero. If she remarries, turns lesbo, becomes a gypsy, joins the circus after I croak, who cares?

Is this in western conference plan??

 

[Operational needs]

So under 10,000 the gifts aren’t taxed at all???

Actually, it was changed to under $14,000 annually or a couple can combine it and give $28,000.

 

[Brownslave688]

So under 10,000 the gifts aren’t taxed at all???

I believe it's 12 or 13k now.

 

[Brownslave688]

Actually, it was changed to under $14,000 annually or a couple can combine it and give $28,000.

There ya go. I knew it had been upped.

 

[DorkHead]

That sad that you don't feel you have raised your kids better than to think the money will ruin them.

Money can change anyone. My wife`s brothers and sister were brought up right in a loving Catholic home. They never were in trouble with the law and gave their time and energy to many causes. When their mother died, the one bother was like a vulture and then the sister turned. I saw first hand how greed changed these people and how it hurt my wife. Their relationships with each other has changed forever.

 

[DorkHead]

If your pension "covers everything and then some" why wouldn't you hold off on starting SS? You gain 8% for every year that you delay.

Possibly because he saw the Patriots get their a$$e$ handed to them in the superbowl. Hahahahahahahahaha

 

[UpstateNYUPSer(Ret)]

So under 10,000 the gifts aren’t taxed at all???

The gift tax is supposed to start at $13 or $14K but in reality the clock doesn't start ticking until you give more than $5M.

 

[UpstateNYUPSer(Ret)]

Did you take as early??? What’s the monthly difference between taking it early and waiting til 70 1/2????

Roughly 8% per year for every year that you wait.

She is being foolish by drawing it early.

 

[UpstateNYUPSer(Ret)]

There ya go. I knew it had been upped.

Actually, it was changed to under $14,000 annually or a couple can combine it and give $28,000.

$14K/child is the limit but in reality the clock doesn't start until you give $5M.

 

[olroadbeech]

Did you take as early??? What’s the monthly difference between taking it early and waiting til 70 1/2????

you can go on the ss website for benefits estimator to find out your difference between 62-65-67-70 etc. it's quite a bit difference as each year you wait is a 8% increase. this has been discussed here many times.

we decided on age 62 since it takes about 18 years before you start losing money.

 

[olroadbeech]

you can go on the ss website for benefits estimator to find out your difference between 62-65-67-70 etc. it's quite a bit difference as each year you wait is a 8% increase. this has been discussed here many times.

we decided on age 62 since it takes about 18 years before you start losing money.

we can invest our SS and maybe make more than 8% and if we need the money in an emergency we can get to it.

 

[rod]

Everyone should wait until they are 70 to start their SS. (That leaves more in the pot for me)

 

[Shiftless]

I'm with Rod!

Let those who take the position of waiting to enjoy the SS benefits when they reach the age of 70 sounds GREAT to me! Matter of fact, spread the word as much as possible.

Man ya gotta love choices! America is GREAT!

 

[MAKAVELI]

Roughly 8% per year for every year that you wait.

She is being foolish by drawing it early.

When you hit your 60's your number could be called at anytime. Why live for tomorrow when you don't know if you'll even be around?

 

[oldupsman]

I waited until 65 for one simple reason. I figured since I was already paying for my health care for UPS
I could wait until 65 when my Medicare kicked in. Then I started collecting so they could take my Medicare
out of my SS check. It was a nice little bump waiting for those 3 years.

 

[olroadbeech]

I waited until 65 for one simple reason. I figured since I was already paying for my health care for UPS
I could wait until 65 when my Medicare kicked in. Then I started collecting so they could take my Medicare
out of my SS check. It was a nice little bump waiting for those 3 years.

that sounds like a good idea. i applied yesterday for ss at age 62. wonder if i can cancel my app.