Social Security

[oldngray]

wages are so low and rents are so high it doesnt matter

then you got healthcare ceos bankrupting people.

Why do your parents charge so much for rent?

 

[Babagounj]

wages are so low and rents are so high it doesnt matter

then you got healthcare ceos bankrupting people.

My healthy pension pays for my healthcare and bills.
I own my condo.
So none of those matter to me.

 

[oldngray]

My healthy pension pays for my healthcare and bills.
I own my condo.
So none of those matter to me.

I haven't even needed to start taking social security or money from retirement investments.

 

[rickyb]

Why do your parents charge so much for rent?

because theres no law stopping them when someone new moves in.

insurance costs.

are you being honest right now

 

[Babagounj]

I haven't even needed to start taking social security or money from retirement investments.

I can't say the same.
I have cashed out from my 401K several times.
I needed to payoff my mortgage so that I didn't have to spend money on useless flood insurance ( I'm not on the ground floor ).
Which kept increasing every year.
I'll start receiving SS this year, waiting until 70 really boosted my amount.

 

[rickyb]

My healthy pension pays for my healthcare and bills.
I own my condo.
So none of those matter to me.

the last gasp of hte american dream

if you got sick you wouldnt have to worry about health care costs going up?

 

[Babagounj]

the last gasp of hte american dream

if you got sick you wouldnt have to worry about health care costs going up?

I never got covid nor the vaccines , but I did get the flu the next year.
Other than that, I haven't been sick since.
Medicare pays for all of my doctor visits, I only have a $35 co-pay, which is cheap.
Other wise I'm in great shape and plan to live into my 90's.

 

[Wally]

Why do your parents charge so much for rent?

He eats a lot and beats up the place like most in housing somebody else pays for.

 

[BrownFlush]

I haven't even needed to start taking social security or money from retirement investments.

Start. Spend it on yourself or give it away.
Do something with it.
It will perish with you.

 

[rickyb]

Start. Spend it on yourself or give it away.
Do something with it.
It will perish with you.

My parents have this problem. i try to encourage them but theyre pretty frugal besides vacations which they dont do enough

 

[rickyb]

He eats a lot and beats up the place like most in housing somebody else pays for.

ah very good

 

[Babagounj]

Start. Spend it on yourself or give it away.
Do something with it.
It will perish with you.

If you plan on leaving your retirement funds to some else be very careful.
The IRS will be looking for up to half of what you leave.
401K beneficiary ( ies ) except a spouse , need to empty the account within 10 years.
That may cause them to rethink their own plans.

Should you decide to spend it on yourself, please watch out for future medicare monthly payments increases.
That's what I do, now.
Never take out some much that it raises my AGI into a higher level.

 

[oldngray]

If you plan on leaving your retirement funds to some else be very careful.
The IRS will be looking for up to half of what you leave.
401K beneficiary ( ies ) except a spouse , need to empty the account within 10 years.
That may cause them to rethink their own plans.

Should you decide to spend it on yourself, please watch out for future medicare monthly payments increases.
That's what I do, now.
Never take out some much that it raises my AGI into a higher level.

I have already started transferring some money from my IRA to my other investment account to reduce the later tax hit. Plus Medicare costs more if your income is too much.

 

[Babagounj]

He eats a lot and beats up the place like most in housing somebody else pays for.

Around here, every time a public housing unit becomes available it needs a major over haul.
The local public housing budget takes a major hit, upwards of $10,000, to repair all the damages.
The local Housing Authority has made the request that people leave some of their monies to them in their wills.

 

[oldngray]

Around here, every time a public housing unit becomes available it needs a major over haul.
The local public housing budget takes a major hit, upwards of $10,000, to repair all the damages.
The local Housing Authority has made the request that people leave some of their monies to them in their wills.

I always laugh when they waste money trying to fix up those places when they will soon get trashed again.

 

[BrownFlush]

If you plan on leaving your retirement funds to some else be very careful.
The IRS will be looking for up to half of what you leave.
401K beneficiary ( ies ) except a spouse , need to empty the account within 10 years.
That may cause them to rethink their own plans.

I'm hoping to die with nothing but real estate (been in the kids name for more than 5 years) Car, truck, houseful of stuff, the kids can have an auction.

Should you decide to spend it on yourself, please watch out for future medicare monthly payments increases.
That's what I do, now.
Never take out some much that it raises my AGI into a higher level.

So far, the increase in SS each year has taken care of the Medicare premium raising.

 

[Wally]

If you plan on leaving your retirement funds to some else be very careful.
The IRS will be looking for up to half of what you leave.
401K beneficiary ( ies ) except a spouse , need to empty the account within 10 years.
That may cause them to rethink their own plans.

Should you decide to spend it on yourself, please watch out for future medicare monthly payments increases.
That's what I do, now.
Never take out some much that it raises my AGI into a higher level.

$206,000 filing jointly Then it goes up $239 a month.

Beneficiaries who file joint tax returns with modified adjusted gross income:	Income-Related Monthly Adjustment Amount	Total Monthly Premium Amount
Less than or equal to $103,000	Less than or equal to $206,000	$0.00	$174.70
Greater than $103,000 and less than or equal to $129,000	Greater than $206,000 and less than or equal to $258,000	$69.90	$244.60
Greater than $129,000 and less than or equal to $161,000	Greater than $258,000 and less than or equal to $322,000	$174.70	$349.40

 

[oldngray]

$206,000 filing jointly Then it goes up $239 a month.

Beneficiaries who file joint tax returns with modified adjusted gross income:	Income-Related Monthly Adjustment Amount	Total Monthly Premium Amount
Less than or equal to $103,000	Less than or equal to $206,000	$0.00	$174.70
Greater than $103,000 and less than or equal to $129,000	Greater than $206,000 and less than or equal to $258,000	$69.90	$244.60
Greater than $129,000 and less than or equal to $161,000	Greater than $258,000 and less than or equal to $322,000	$174.70	$349.40

That was something I only learned last year. I was keeping an eye on social security and IRA but didn't think about Medicare when I was still using Teamsters insurance.