Zone1 Social Security

That sounds very sensible, especially if you are in pretty good health. Also, very thoughtful of you based on having a younger wife.

My husband felt the same way and did wait until 70. It felt like kind of a long wait but the increase in your benefit is quite substantial by waiting.
All good, but we have to consider those who have been in grueling tough careers that have destroyed their health all be it, but they can (if want to), still continue to work in a much easier job that might actually pay them decent wages and benefits still, yet they are punished by the government if they decide to do that after taking retirement at anywhere from 62 to 67 if need be ??????

The system wins by that citizen continuing to work if possible, but they are punished because of it ?????

Make it make sense please... Thanks
 
I understand why it makes sense to reduce the benefit if someone retires somewhere between 62 and their full retirement age, but I agree with others that penalizing those who choose to work by limiting how much they can work after drawing SS, seems unfair.
 
That sounds very sensible, especially if you are in pretty good health. Also, very thoughtful of you based on having a younger wife.

My husband felt the same way and did wait until 70. It felt like kind of a long wait but the increase in your benefit is quite substantial by waiting.

The fact that the individual check increases is one factor.

But, and situations vary.

To get a real sense of whether to delay or start SS should really be made on projection three lines on a graph:
  1. Early retirement earnings by month from early retirement age to age 100.
  2. Full Retirement Age (FRA) earnings by month from FRA to age 100.
  3. Delayed retirement earning by month from age 70 to age 100.

This will return 3 lines. The different lines will intersect at different time in the future. The intersection is known as the "break even" point, a financial person can help with this.

That then goes into evaluating your (and maybe your spouses) individual situation. For example if evaluating early retirement Vs. FRA the break even point might be somewhere between 75-80. Prior to that point you get more overall money by taking early retirement, after that point you make more money be delaying to FRA. Same type of compariosions can be used for early retirement vs. delayed retirement and FRA vs. delayed retirement.

Then an honest assessment of how long you expect to draw benefits. Or, if a spouse is involved what is their age, where you the higher wage earner, will they draw your benefit, and for how long?

Ya, it's complicated. The best we can do is try to make informed choices.

WW
 
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The formula or calculations should be full proof for it's survival, otherwise it should be calculated in a manor that allows it to ride the roller coaster of life in order to survive by way of the full proof formula that was created, and this regardless of any type of movement in population whether it be a lack there of or in a growth period.

The problem allegedly began when the democraps or maybe others that might be involved in nefarious ways, had begun their campaigns of replacement theories and/or of theft in order to fuel their theories in order to manipulate the system and retain power by way of abusing every system we have had or still have in order to do so. Nothing is safe !!

The numbers don't lie, and the formula should be full proof in it's design if not abused and/or stolen from. We are seeing numbers right now concerning what the Democraps and other's were doing that was killing and abusing every system we have had in hopes to keep power and abuse that power by way of.

M.S-S.G.A is my idea, and it can be done immediately through the removal of governments grimey paws in ways that it has been conducting our affairs recklessly in derelict of it's duties. We need to have new reps placed over these programs that will gaurd them and keep them solvent in hopes to stop other's from stealing from it or abusing said programs.

When anyone saves money or starts a plan of action to save money for that Rainey day fund, then they create the plan around their finances and future outlook. Of course the formula they implement will allow them to save alot of money sometimes, and then not so much at other times, but regardless the goal is to make positive contributions regardless of the amount every time. So the key is to save at a steady pace, and this regardless of the amount of input while navigating the ups and downs that might be encountered along the way. It must be done in a way that in the end the money is going to be there for the withdrawal based on the steadfast way of working the thing throughout the year's.

We've had individual Americans that have been experts at taking nothing and making huge gains out of that nothing, but our government acts as a rebellious teenager with our money, otherwise by sneaking into the system and robbing it where next they tell the parent/senior dad or mom "hey I don't know what happened to the money it's just gone".

Many Americans when decide enough is enough after working for 40+year's in life, and had decide to retire from a grueling hard career where they then draw their check under penalty due to the age that getting out of the career was decided on is there option to take. Even so they still might want to change to an easier profession that allows them to stay busy, and also to help their new employer to be prosperous by working full time with that new employer (whats wrong with this ? nothing), even though already drawing their earned retirement check they are in a new easier more workable job that keeps them busy in life, and although not making the money that they were, it matters not because between the two revenues being received drawing and working still it's a win win for everybody involved. Even though the retiree has decided to draw at 62, if he or she still works a full time but way easier Job on life, then he or she is still a contributor to the SS and income tax system. If caps remain on allowed income after receiving SS, then the incentive for the person to work gets removed, and the person might fall into poverty where they become a bigger burden on they system as they become more and more dependent on the check while their health declines rapidly at this point.

Remove the caps now !!!

My idea to take the income caps away, and to allow the recipient at any level to stay working at full capacity if chooses to do so is a positive thing IMHO, so thereby he or she continues to pay into the SS and income tax system onward therefore being an add to it instead of being a negative drain on it. This would inject those new revenues back into the program for it's solvency if were allowed to do so.

To make the program financially solvent and ensure long-term sustainability, a multifaceted approach is required, focusing on managing the program properly, diversifying revenue, controlling costs or theft, and shoring up (by amending some areas it if need be), to insure the sound financial planning or calculative formula already built into the program.
The problems are very complex and contaminated with other problems. I remain convinced that with less taxes the federal government can do so much more if the politicians weren't so corrupted by political parties and Big Money Donors. Moreover, there are certain things that a government should do, and there are many things that society should do independent of the government. Once upon a time families took care of children and the elderly and the circle of life kept things going. There are many things a family can do better than the government. There are many things that a city could do better than the federal government, and there are many things that a state can do better than the federal government. It's time to decentralize the power in this country, right down to the family.
 
I understand why it makes sense to reduce the benefit if someone retires somewhere between 62 and their full retirement age, but I agree with others that penalizing those who choose to work by limiting how much they can work after drawing SS, seems unfair.

A couple of counter points:

#1 The system doesn't limit how much people can work. It limits the receipt of benefits based on wage income. SS is intended as one leg of retirement, if a person is working, they aren't really retired. Limiting work and limiting income to receive benefits are two different things.

#2 Removing the wage cap (it's a wage cap not an income cap) increases the benefit payout to those in early retirement. That will accelerate the funding expendatures from the Trust and depleate it sooner. Currently that is 2034, but if expendatures are increased it will happen earlier. Once that happens it's projected that benefits will be cut by about 25% for everyone as benefits will be solely funded by collections.

WW
 
I already do.










Now pay me my share. If I contribute more to SS I deserve a bigger benefit.
I agree and I think if the cap of earnings taxed for SS increases, the benefit cap needs to increase as well.
 
People that have never paid in DONOT get over a thousand dollar's a month.. That is false.
A spouse (who never worked) often does, assuming they had a working spouse who was entitled to a benefit.
 
Why is it complicated? I don't know, maybe hundreds of millions of particpants functioning during their working career and retirement years have to contribute and then receive benefits worth TRILLIONS of dollars impacted over decades and decades in all types of situations?

Who thought that might be complicated?



No, lets also show the reality of the situation and the impact of the desired change.



That is debate.

WW
The reality of the situation is that the American people trusted government to manage their money taken from them in a positive and productive representative way, but along the way something has gone very wrong in it all.

The formula was worked up by very educated people back in the day, and it worked out for year's except for some needed changes or amendments that was needed to make it even stronger.

Remove the caps and watch it get stronger as the citizen's have a more desire to remain working and paying in. Remember if they elect to draw but want to stay working then those contributions will be a huge injection of new revenue that has no strings attached to the retiree, otherwise by raising their set benefit due to the added contributions because they've already sealed the deal when they decided to draw early.

Wouldn't the system be helped by taking away the cap on income levels made, otherwise this after a person receives their earned benefit check but decides to keep working ? Just because the person begins to draw their check from 62 to 67 why the additional penalties or punishments on the retiree because they want to keep working all be it in a much easier job that might not pay all that good, but the person is staying busy and active ???
 
The problems are very complex and contaminated with other problems. I remain convinced that with less taxes the federal government can do so much more if the politicians weren't so corrupted by political parties and Big Money Donors. Moreover, there are certain things that a government should do, and there are many things that society should do independent of the government. Once upon a time families took care of children and the elderly and the circle of life kept things going. There are many things a family can do better than the government. There are many things that a city could do better than the federal government, and there are many things that a state can do better than the federal government. It's time to decentralize the power in this country, right down to the family.
Then we look at that mayor in Chicago who is the very definition of what our problem's are in this country.
 
If the higher income spouse passes, the lower income spouse ends up receiving a higher benefit based on survivorship and starts drawing the higher income spouses benefit.
Except in your example, it sounded like the lower income spouse retired before FRA. If so, I think their survivor benefit would be reduced if they outlived their spouse. The reduction percentage from taking a benefit before FRA sticks to that person even when they might later be receiving a survivor benefit.
 
We have two plans in my house. I am planning to retire in my 50's. My wife thinks I should retire in my 90's. The negotiation is ongoing.
 
All good, but we have to consider those who have been in grueling tough careers that have destroyed their health all be it, but they can (if want to), still continue to work in a much easier job that might actually pay them decent wages and benefits still, yet they are punished by the government if they decide to do that after taking retirement at anywhere from 62 to 67 if need be ??????

The system wins by that citizen continuing to work if possible, but they are punished because of it ?????

Make it make sense please... Thanks
I agree about the working after drawing SS part. I don't think having a cap on how much can be earned during that time makes sense. But I do think the reduction in benefits from taking SS before FRA makes sense. I don't think a person retiring at age 62 should get the same monthly amount they would have qualified for if they would have waited until FRA.
 
The fact that the individual check increases is one factor.

But, and situations vary.

To get a real sense of whether to delay or start SS should really be made on projection three lines on a graph:
  1. Early retirement earnings by month from early retirement age to age 100.
  2. Full Retirement Age (FRA) earnings by month from FRA to age 100.
  3. Delayed retirement earning by month from age 70 to age 100.

This will return 3 lines. The different lines will intersect at different time in the future. The intersection is known as the "break even" point, a financial person can help with this.

That then goes into evaluating your (and maybe your spouses) individual situation. For example if evaluating early retirement Vs. FRA the break even point might be somewhere between 75-80. Prior to that point you get more overall money by taking early retirement, after that point you make more money be delaying to FRA. Same type of compariosions can be used for early retirement vs. delayed retirement and FRA vs. delayed retirement.

Then an honest assessment of how long you expect to draw benefits. Or, if a spouse is involved what is their age, where you the higher wage earner, will they draw your benefit, and for how long?

Ya, it's complicated. The best we can do is try to make informed choices.

WW
I agree.

The health situation of the person making their SS choice and the age and health of their spouse, if they have one, certainly factors into the choice. Along with health, of course their financial situation too. If they have other funds, like IRAs or pensions, which can fill in the SS gaps while they delay taking SS, it becomes a choice. If not, they may have to take SS as early as possible.
 
I agree about the working after drawing SS part. I don't think having a cap on how much can be earned during that time makes sense. But I do think the reduction in benefits from taking SS before FRA makes sense. I don't think a person retiring at age 62 should get the same monthly amount they would have qualified for if they would have waited until FRA.
Exactly right... Thanks
 
More examples of a government out of control and being hostile towards it's "GOOD CITIZENS".



We could do this all day.

Need to return quickly to a merit based society, and stop with the using of bad actor's to set policy for all.

Need to root out the globalist that are striving towards a nation with no borders and no boundaries when it comes to destroying the American culture and good values system that got us to where we were in the not so distant past, otherwise before globalism opened the doors for bad actor's to exploit it for filthy gains that led to the extensive weakening of our nation by way of abusing the trust that was built over year's of American 1st policies.

Yeah our military can protect us in the globalist vision, but should it be used for that or go back to being used to protect American culture and interest at home before protecting a globalist vision that is destroying us little by little ??
 
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Ss was not set up to be a income supplement while you continue to work. Thus the name "retirement" benefit.
I agree, it is odd that while your SS benefits are reduced if you are still working, you get that money added back to your check after reaching full retirement age (FRA). Change the law to NOT add that money back after FRA. JMO
 
We have two plans in my house. I am planning to retire in my 50's. My wife thinks I should retire in my 90's. The negotiation is ongoing.

Just resign yourself to the fact...

..... ..... ..... ..... You will be working until you are in your 90's.

WW
 
Remove the caps and watch it get stronger as the citizen's have a more desire to remain working and paying in. Remember if they elect to draw but want to stay working then those contributions will be a huge injection of new revenue that has no strings attached to the retiree, otherwise by raising their set benefit due to the added contributions because they've already sealed the deal when they decided to draw early.

Average SS benefit in 2025 = $2000

The maximum EE contribution to SS based on $176,100 which is when SS taxes stop is $909.33 per month.

So using the previous early retirement at 62, that is an average of $1400 a month and if that person is making $100,000 per year ($8333.33 per month) that is $516 in FICA taxes out of their check. They are drawing more then they are paying in - that is not a "huge injection".

There may be exceptions, but in general those who draw SS benefits, those benefits will far exceed the benefit amount meaning they will deplete the Trust fund at an accelerated rate.

WW
 
I agree, it is odd that while your SS benefits are reduced if you are still working, you get that money added back to your check after reaching full retirement age (FRA). Change the law to NOT add that money back after FRA. JMO
Sounds reasonable to me.
 
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