US Social Security

Yup
To bad because they lose so much in the future! Unless they can get back to work before they turn 70! I took my Social Security at 67 which at that time was good for full entitlement! But I worked until well past 70 and more then made up for not waiting until 70! So many of these will be able to gain back quite a bit if the economy gets back up to speed to employ them
My 2 cents

A bird in the hand.

lasvegan wrote:

Yup
To bad because they lose so much in the future! Unless they can get back to work before they turn 70! I took my Social Security at 67 which at that time was good for full entitlement! But I worked until well past 70 and more then made up for not waiting until 70! So many of these will be able to gain back quite a bit if the economy gets back up to speed to employ them
My 2 cents

I took mine at 62, with my savings & and the safety net of my SS I moved cross country to start a new life. When my first check arrive, I gave my boss notice that I was quitting.

All my life I lived in snowy cold winters, Buffalo. . . Chicago . . . Pittsburgh. Best decision  I ever made taking early ss and moving from Pittsburgh to Las Vegas. I planned to work part time and did so till I was 76. If it wasn't for SS at 62, I would have died an old man Pittsburgh like many friend I left behind.

In Las Vegas I had an easy job, with company car, picking up financial bags from Citibank which the company forwarded to San Francisco.

Another route I had was picking up contracts from  a home builders model homes delivering them to their main office.

The most enjoyable route for several years was going to the airport freight terminal picking up a small box from the Federal Reserve and driving it to Lake Havasu, AZ. No stress, no bosses, plop in my favorite cd and roar across the desert.

I remarried at 65 to a Filipina and at 76 moved to the Philippines.

Awesome!

Would you have moved there much earlier, say 65?

Jackson4 wrote:

Would you have moved there much earlier, say 65?

If I understand your question correctly, I think you're asking if I would have moved to the Philippines earlier?

No, I loved Las Vegas, greatest place to live, especially if you're a active senior. We lived in the city of Henderson, NV (considered Las Vegas)

Now Manila (1571) was founded before the first settlement (Jamestown) in the US in 1607. Las Vegas sprung out of the desert recently so everything is new, well planned. My first vacation in Las Vegas was in 1969, population around 90,000. When I moved there in 2005 it was around 1.5 million.

History lesson: Nevada was a territory at one time, not a state. Statehood required a certain population, in order to get people to move out to Nevada, they made everything that was illegal, legal in Nevada, Gambling, Prostitution & easy Divorces.

Same applies today, get drunk, get a marriage license in about 10 minutes, Uber "Grab" over to one of 50 wedding chapels, get married by Elvis as low as $60, sober up & get divorced for $139 paperwork less than 30 minutes.

Nevada has no state income taxes and property taxes are extremely low.

Why go to the Philippines to meet a Filipina? When Las Vegas has the second largest Filipino population in the US, around 150,000. The difference is the Filipina's in the Las Vegas are educated and working in good paying jobs.

My wife's friends were always asking me if I knew any nice guys they could meet and marry.

Vegas and Manila both facing serious water issues. And the rest of the world is right behind them.

Philippine Destiny wrote:

Vegas and Manila both facing serious water issues. And the rest of the world is right behind them.

Regardless of what you read about water shortages in Las Vegas, greatly exaggerated. A third pumping station/inlet project started in 2015 at $1.4 Billion USD  will be completed on Lake mead this month. This pumping station is at a lower level than the two existing pumping stations. This response was due to the fact the water levels on Lake Mead were dropping and the water commission was thinking head.

Lake Mead is 112 miles long, 1.5 million acres (607,028 hectares) a surface area of 247 sq miles. About two years of flow from the Colorado River.

No worries;
Drinking sewage: solving Singapore's water problem...Yup I have been drinking that for a long time!

W9XR wrote:

Philippine Destiny wrote:

Vegas and Manila both facing serious water issues. And the rest of the world is right behind them.

Regardless of what you read about water shortages in Las Vegas, greatly exaggerated. A third pumping station/inlet project started in 2015 at $1.4 Billion USD  will be completed on Lake mead this month. This pumping station is at a lower level than the two existing pumping stations. This response was due to the fact the water levels on Lake Mead were dropping and the water commission was thinking head.

Lake Mead is 112 miles long, 1.5 million acres (607,028 hectares) a surface area of 247 sq miles. About two years of flow from the Colorado River.

As greatly exaggerated as the possibility that the US could ever be shut down and drop 1/3-1/2of GDP.

Then it happened.

manwonder wrote:

No worries;
Drinking sewage: solving Singapore's water problem...Yup I have been drinking that for a long time!

The Japanese make meat patties out of recycled poop.  Big Mac is now Big Shat 

Yup taken in loads of 'shit' already;
but I feel good!

Philippine Destiny wrote:

As greatly exaggerated as the possibility that the US could ever be shut down and drop 1/3-1/2of GDP.

Then it happened.

Whoa Partner . . . . .what "actual" figures  you are talking about?

Certainly not the first quarter and the second quarter is not even two weeks old.

It is realistic that GDP it will drop. Goldman Sachs adjusted down their first quarter GNP prediction to 1% growth considering the Corona virus. 

First Quarter:  January, February & March
Second Quarter: April, May & June.

Most of the time I agree with you. It happens when it happened, not before.

don't ask where they get the cheese

I started my social Security at 62 but I was working full time for cash still worked up to two months ago I am 77

Yup...I'd LOVE TO go back to work/and being able to earn a 'living' wage & not some 'rubbish' sheet wage they throw in your face! (mind you I never had the luxury of what you call a 'Minimum Wage')  Just like thousands of my buddies whom are now locked at home with no sight yet on the future employment landscape at home!
Just Saying

W9XR wrote:

I expect there will be an avalanche of people signing up for early SS. Will SSDI claims increase?

You bet.  Many folks 50 and over have aches and pains, and many doctors rubber stamp disability claims.  An attorney friend told me that 20 year old Black bucks were being awarded SSI disability despite being perfectly healthy and never having worked a day in their lives.

...was 'Philippine Destiny' right in some things he said?

Okieboy wrote:

I started my social Security at 62 but I was working full time for cash still worked up to two months ago I am 77

Almost same for me, started ss at 62 retired at 76, earned over the amount allowed from 62 to 65 and had to pay some back. But I enjoyed what I was doing.

moonunit0103 wrote:

W9XR wrote:

I expect there will be an avalanche of people signing up for early SS. Will SSDI claims increase?

You bet.  Many folks 50 and over have aches and pains, and many doctors rubber stamp disability claims.

Yes, If you're an alcoholic you can collect. Plus besides collecting, they get medicare and all kinds of government handouts. Food Stamps (in form of a debit card), rent & utilities subsidies, oh yes and free cell phone.

Mine doubles at 62 Wife and 2 kids under 16 all US citizens.

Double at 62 is almost what you get at 70.

Will be reduced when the kids turn 18?

Lat61 wrote:

Mine doubles at 62 Wife and 2 kids under 16 all US citizens.

Yes I almost forgot about dependents. Also SSDI is retroactive. . . . . lump sum, enough to buy a used car.

First hand experience with ssdi, I was divorced from my first wife. She applied for and received ssdi unbeknown to me. When we divorced the kids stayed with me. One day they both receive ssdi checks, retroactive one year, that resulted in a trip to the mall, spending the gift from the disability Gods.

I went to the ss office wanting to return the checks as I was supporting them. SS office said, oh no, you must keep the money.

W9XR wrote:

SS office said, oh no, you must keep the money.

mugtech, Reposted Social Security info on other thread. Just go towards the bottom.

It's not easy to get answers but here's my best go of it. For every 1,000 you qualify for at full retirement age 66 to 67 years of age. You get around 75% around age 62. So lets say you get 1500 at 67. At 62 you would receive about 1125.00 . If you have a child under 18 they would receive 50% of your full retirement at 67, so 1500x .5= 750.00. A 2nd child can get 25% or in this example 375.00. If married and have a child under 16 a wife can get 30% for being a caretaker so another 450.00. So in this families case a total of 2700.00. Your family maximum is 1.8 times full retirement age or 67 which this example reaches. 1500 x 1.8 = 2700. But remember all have to be biological children and have 5 year USA residency.