BajaNomad

Any Nomads on Social Security?

Cisco - 10-11-2015 at 05:01 PM


Prices actually have dropped from a year ago, according to the inflation measure used for the COLA.

http://news.yahoo.com/falling-gas-prices-means-no-social-sec...

Udo - 10-11-2015 at 05:26 PM

Yes!

No Raise This Year

skippermike - 10-11-2015 at 05:38 PM

My lovely wife pointed out to me this AM, as we were reading the Sunday paper - no raise this January, because the price of gas is down.
Well, OK but our water bill is up because we all used less water.
And our electric bill is up because of do-gooders on solar, and because we ran our A/C last month.
How to win??

monoloco - 10-11-2015 at 05:52 PM

Quote: Originally posted by skippermike  

And our electric bill is up because of do-gooders on solar, and because we ran our A/C last month.
How to win??
How are "do gooders" on solar making your rates higher?

DENNIS - 10-11-2015 at 05:55 PM



Don't ask.

SFandH - 10-11-2015 at 06:21 PM


I looked into the history of the computation of the particular CPI that the social security COLA is based upon. The way it is computed is changed frequently. I don't think it's incorrect to say it is manipulated to minimize COLAs.

Here are a couple of examples I remember:

The cost of durable goods like washers and dryers are considered. One year there was a significant increase in their cost but the increase did not affect the CPI. Why? Because in that year manufacturers replaced dials with push button controls. It was determined that consumers derived benefits from the change and therefore the price increase was not included.

Another example. One year there was a significant increase in the price of a pound of ground sirloin steak, which was an item tracked. The CPI did not increase because it was decided that the reasonable consumer would no longer buy sirloin and instead would buy a pound of ground chuck. In other words they replaced a pound of sirloin with a pound of a cheaper cut when computing the CPI.

It's rigged folks. I really doubt there will be significant increases in social security, regardless of inflation, unless tax revenues increase to pay for it.

[Edited on 10-12-2015 by SFandH]

bajaunbob - 10-11-2015 at 08:18 PM

Let's just hope the usd keeps rising vs the mxn peso to make up for no raise in our SS benefit.

bajabuddha - 10-11-2015 at 09:21 PM

Quote: Originally posted by bajaunbob  
Let's just hope the usd keeps rising vs the mxn peso to make up for no raise in our SS benefit.

HOW long have you been in Mexico? Haven't you noticed, every time the peso devalues, the price tags go up in the stores? As in, same day? Keep dreamin'..... death and taxes. Grandma said, "Cheer up, 'cause things will get worse"....
So I did, and they did. You actually think you're gonna get ahead, or just break even, huh. :lol: :no:

pauldavidmena - 10-12-2015 at 06:01 AM

This question is very pertinent to me, not because I'm getting SS now, but because I plan to do so as soon as I turn 62 (6 years). My wife, a year younger than me, will likely continue to work and won't draw against her Social Security until she's 67.

In any event, the manipulation of the COLA seems very plausible to me. When I first started working in the computer industry, thinking I was making big money, I received a COLA bump and thought I had hit the lottery - until I was informed that my increase brought me in line with the starting salary for new graduates out of college.

bacquito - 10-12-2015 at 06:52 AM

I get SS but it has always bothered me that I am penalized because I get local gov't retirement (County retirement) and SS based on my years working in the private sector. I am considered a "Double Dipper" and therefore my SS benefits are reduced. I protetested but it did no good

bajabuddha - 10-12-2015 at 07:50 AM

I have SS Disability, and even with the last COLA just my rider health insurance (PPO plan) went up in cost and co-pays more than the COLA did. This year's no difference; monthly rate stays the same, but major copays up over $100 a month more a pop. In 7 years the premium payment (on top of the already-deducted Medicare withdrawl) went from $35/mo. to now $85. COLA did not. Some 'trickle theory', huh? But, I guess we should all just be thankful that all we put in is at least still a drop in the bucket, that's running dry.

sargentodiaz - 10-12-2015 at 10:04 AM

Quote: Originally posted by bajabuddha  
I have SS Disability, and even with the last COLA just my rider health insurance (PPO plan) went up in cost and co-pays more than the COLA did. This year's no difference; monthly rate stays the same, but major copays up over $100 a month more a pop. In 7 years the premium payment (on top of the already-deducted Medicare withdrawl) went from $35/mo. to now $85. COLA did not. Some 'trickle theory', huh? But, I guess we should all just be thankful that all we put in is at least still a drop in the bucket, that's running dry.


Like all that Hope and Change?

durrelllrobert - 10-12-2015 at 11:06 AM

Even though we seldom get a raise in our annual benifit amount that doesn't stop the Feds from increasing the amountcontributed by emploers and employees every year:

"Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. The same annual limit also applies when those earnings are used in a benefit computation. This limit changes each year with changes in the national average wage index. We call this annual limit the contribution and benefit base. For earnings in 2015, this base is $118,500.

The OASDI tax rate for wages paid in 2015 is set by statute at 6.2 percent for employees and employers, each. Thus, an individual with wages equal to or larger than $118,500 would contribute $7,347.00 to the OASDI program in 2015, and his or her employer would contribute the same amount. The OASDI tax rate for self-employment income in 2015 is 12.4 percent."

toneart - 10-12-2015 at 11:32 AM

Let's be thankful that FDR initiated Social Security! If you are Republican and identify with the rich, then you can hate FDR and refuse to take Social Security. Come on...walk the walk! :light:

Feel The Bern. :yes:

Sweetwater - 10-12-2015 at 01:25 PM

Social Security and MediCare.
I hear people rail consistently against them.
But, when they qualify by earning the benefit by fulfilling the contract, not one of them walks away without claiming them.

Claiming BACK your own Money

MrBillM - 10-12-2015 at 01:50 PM

To say that someone shouldn't want to have returned to them the money confiscated by Government edict is contrary to Conservatism is pretty Stupid.

On the contrary, allowing the government to keep ANY of it would be a Liberal view.

Of course, the Liberals "might" think in those terms because, thanks to THEM, there are SO MANY people drawing from the fund who didn't contribute sufficient (or any) amounts into that account.

DENNIS - 10-12-2015 at 02:26 PM



Social Security withdrawals from wages are a zero interest loan to the government.

durrelllrobert - 10-12-2015 at 02:52 PM

Quote: Originally posted by toneart  
Let's be thankful that FDR initiated Social Security! If you are Republican and identify with the rich, then you can hate FDR and refuse to take Social Security. Come on...walk the walk! :light:

Feel The Bern. :yes:


FDR WAS OK BUT ELEANOR WAS A b-tch

bajabuddha - 10-12-2015 at 03:00 PM

Just had to turn out to be a partisan pizzing match, and still on page one.

NOMANIA STRIKES AGAIN. Just can't lay off.

wessongroup - 10-12-2015 at 03:04 PM

My parents lived in the era of the "poor house" ... which wasn't all that good for some

Better than a sharpe stick in the eye ... SS that is :biggrin::biggrin:

[Edited on 10-12-2015 by wessongroup]

Marc - 10-12-2015 at 05:28 PM

I've been receiving SS for 9 years now. I think the government will have to get wise to people like me who really don't need it and require that recipients have an income that requires assistance. The fund is going broke.

mtgoat666 - 10-12-2015 at 06:27 PM

[rquote=1003333&tid=80518&autho=DENNIS]

Social Security withdrawals from wages are a zero interest loan to the government.[/rquote]

You've been on the dole and milking the disability system since 'nam. Who are you to talk?

Btw, it's not a loan system, it a pay as you go system. If you live long enough you reap much more than you put in.

TMW - 10-12-2015 at 07:44 PM

I like SS and think it is a good deal for most people. But if you would have invested the same amount of money over the years you would have a lot more. That's usually the argument some give against it. However very few would do it and would end up in the poor house. Most Americans like to spend everything they make on toys and things they want not need.

LancairDriver - 10-12-2015 at 08:07 PM

Quote: Originally posted by Marc  
I've been receiving SS for 9 years now. I think the government will have to get wise to people like me who really don't need it and require that recipients have an income that requires assistance. The fund is going broke.


You don't have to accept it. You can return it to the Government or donate to your favorite charity if you have a guilty concience.

FDR's Scam gone Awry

MrBillM - 10-12-2015 at 08:10 PM

The plan was NOT designed to be "Pay as you Go", but "Pay and Go".

Before you got to 65.

The intended financial "safety-feature" (for the government) behind the ploy was to make the eligibility threshold (65) just beyond the average expected lifespan (62) which would make today's recipients wait until about 80 or so.

BTW, IF we are going to "means test" the system, how about going BACK to the concept that eligibility is tied directly to WHAT the recipient actually paid in and forget those "Alternate" computations ?

Bajahowodd - 10-16-2015 at 04:55 PM

Quote: Originally posted by MrBillM  
The plan was NOT designed to be "Pay as you Go", but "Pay and Go".

Before you got to 65.

The intended financial "safety-feature" (for the government) behind the ploy was to make the eligibility threshold (65) just beyond the average expected lifespan (62) which would make today's recipients wait until about 80 or so.

BTW, IF we are going to "means test" the system, how about going BACK to the concept that eligibility is tied directly to WHAT the recipient actually paid in and forget those "Alternate" computations ?



So, you sit in your single wide by the Salton Sea and collect social security and pontificate?

Bob53 - 10-16-2015 at 05:10 PM

I'll be eligible for SS this coming December and I will be taking it.

Sweetwater - 10-16-2015 at 06:05 PM

Quote: Originally posted by TMW  
I like SS and think it is a good deal for most people. But if you would have invested the same amount of money over the years you would have a lot more. That's usually the argument some give against it. However very few would do it and would end up in the poor house. Most Americans like to spend everything they make on toys and things they want not need.


This is a popular misconception and not true for most Americans. When you actually do the math on a defined contribution plan vs a defined benefit plan like SSN that has a COLA, there are crossover ages where you profit immensely with the benefit plan. With the low interest rates, you have to have $100k in savings to generate $4k per year (4% safe withdrawal rate). And there is no COLA. The length of time you draw is the key. Most calculators will show a benefit to early claims until you're around 80 years old, then it would be better to wait and claim at full age or later (like 70) if you will live until your 90's.

Being married to a person with significant bennies is another twist in the game and if one person has higher income or is younger/older, it all needs to be factored into the equation. There are multiple calculators on line, one that I've used is here: http://individual.troweprice.com/public/Retail/Retirement/So...

We're all just one Medical Adventure from ruining any calculator but having a plan is better than winging it, IMHO. I plan to use my SSN as wisely as possible, I've paid in since I was 12 years old and feel that I've EARNED my reward, not an entitlement that I'll give up without a fight.

alacran - 10-16-2015 at 07:36 PM

Only the ones that paid in should receive the benefits.

bajaunbob - 10-17-2015 at 07:47 AM

Quote: Originally posted by bajabuddha  
Quote: Originally posted by bajaunbob  
Let's just hope the usd keeps rising vs the mxn peso to make up for no raise in our SS benefit.

HOW long have you been in Mexico? Haven't you noticed, every time the peso devalues, the price tags go up in the stores? As in, same day? Keep dreamin'..... death and taxes. Grandma said, "Cheer up, 'cause things will get worse"....
So I did, and they did. You actually think you're gonna get ahead, or just break even, huh. :lol: :no:
All I know is that I'm saving about $40 usd on my monthly rent. And saving about .60 usd per gallon on diesel cost vs last year at this time. That works for me!

TMW - 10-17-2015 at 10:16 AM

Quote: Originally posted by Sweetwater  
Quote: Originally posted by TMW  
I like SS and think it is a good deal for most people. But if you would have invested the same amount of money over the years you would have a lot more. That's usually the argument some give against it. However very few would do it and would end up in the poor house. Most Americans like to spend everything they make on toys and things they want not need.


This is a popular misconception and not true for most Americans. When you actually do the math on a defined contribution plan vs a defined benefit plan like SSN that has a COLA, there are crossover ages where you profit immensely with the benefit plan. With the low interest rates, you have to have $100k in savings to generate $4k per year (4% safe withdrawal rate). And there is no COLA. The length of time you draw is the key. Most calculators will show a benefit to early claims until you're around 80 years old, then it would be better to wait and claim at full age or later (like 70) if you will live until your 90's.


Sweetwater you got me thinking so I went into my SS files and found that in 3 more years (I'll be 73) and I will have drawn all the money I and my employer paid into SS over the years. After that it's gravy so to speak. Not a bad deal after all, if I live for a while.

Sweetwater - 10-17-2015 at 11:26 PM

TMW.....thinking for your self is dangerous to many who rail against big government and have no stake in their own future. They often claim to be 'victims of circumstance' without any influence on their destiny or outcome. Stay healthy, live long and prosper.

:coolup:

vandenberg - 10-18-2015 at 02:14 PM

Quote: Originally posted by Sweetwater  
. Stay healthy, live long and prosper.



That's the ticket....however doesn't always work that way.:no:

Whale-ista - 10-18-2015 at 03:30 PM

If you were/are a teacher with a pension, or were/are married to a person with a government pension, this bill might be of interest.

Right now: even if you have paid into Social Security, and are eligible to receive payments upon retirement, if you or your spouse also receive a government pension you will lose a portion of your SocSec each month- about $400 under current rates.

This may have made sense when SocSec was first introduced 70 years ago, but given the low amount of most teachers' pension and salary it doesn't make much sense today.

Details:
2/13/2015--Introduced.
Social Security Fairness Act of 2015

Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to repeal the government pension offset requirement applicable to and reducing husband's and wife's insurance benefits, widow's and widower's insurance benefits, and divorced mother's and divorced father's insurance benefits with respect to federal, state, or local government employees who receive a government pension and did not pay Social Security taxes during their years of government service, and so did not earn entitlement to Social Security benefits for those years.

Repeals also the windfall elimination requirement with respect to computation of an individual's primary insurance amount under which OASDI retirement or disability benefits are reduced if the individual receives a federal, state, or local government pension, did not pay Social Security taxes during the years of government service, and so did not earn entitlement to Social Security benefits for those years.

bajaguy - 10-18-2015 at 03:37 PM

So, I wonder if this is passed, will it be retroactive???....
Quote: Originally posted by Whale-ista  
If you were/are a teacher with a pension, or were/are married to a person with a government pension, this bill might be of interest.

Right now: even if you have paid into Social Security, and are eligible to receive payments upon retirement, if you or your spouse also receive a government pension you will lose a portion of your SocSec each month- about $400 under current rates.

This may have made sense when SocSec was first introduced 70 years ago, but given the low amount of most teachers' pension and salary it doesn't make much sense today.

Details:
2/13/2015--Introduced.
Social Security Fairness Act of 2015

Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to repeal the government pension offset requirement applicable to and reducing husband's and wife's insurance benefits, widow's and widower's insurance benefits, and divorced mother's and divorced father's insurance benefits with respect to federal, state, or local government employees who receive a government pension and did not pay Social Security taxes during their years of government service, and so did not earn entitlement to Social Security benefits for those years.

Repeals also the windfall elimination requirement with respect to computation of an individual's primary insurance amount under which OASDI retirement or disability benefits are reduced if the individual receives a federal, state, or local government pension, did not pay Social Security taxes during the years of government service, and so did not earn entitlement to Social Security benefits for those years.

woody with a view - 10-18-2015 at 03:45 PM

Quote: Originally posted by Sweetwater  
Quote: Originally posted by TMW  
I like SS and think it is a good deal for most people. But if you would have invested the same amount of money over the years you would have a lot more. That's usually the argument some give against it. However very few would do it and would end up in the poor house. Most Americans like to spend everything they make on toys and things they want not need.


This is a popular misconception and not true for most Americans. When you actually do the math on a defined contribution plan vs a defined benefit plan like SSN that has a COLA, there are crossover ages where you profit immensely with the benefit plan. With the low interest rates, you have to have $100k in savings to generate $4k per year (4% safe withdrawal rate). And there is no COLA. The length of time you draw is the key. Most calculators will show a benefit to early claims until you're around 80 years old, then it would be better to wait and claim at full age or later (like 70) if you will live until your 90's.

Being married to a person with significant bennies is another twist in the game and if one person has higher income or is younger/older, it all needs to be factored into the equation. There are multiple calculators on line, one that I've used is here: http://individual.troweprice.com/public/Retail/Retirement/So...

We're all just one Medical Adventure from ruining any calculator but having a plan is better than winging it, IMHO. I plan to use my SSN as wisely as possible, I've paid in since I was 12 years old and feel that I've EARNED my reward, not an entitlement that I'll give up without a fight.


all that to say no COLA this year for the third time in 40 years! all hail Obama!

Whale-ista - 10-18-2015 at 04:15 PM

Quote: Originally posted by bajaguy  
So, I wonder if this is passed, will it be retroactive???....

Quote: Originally posted by Whale-ista  
If you were/are a teacher with a pension, or were/are married to a person with a government pension, this bill might be of interest.

Right now: even if you have paid into Social Security, and are eligible to receive payments upon retirement, if you or your spouse also receive a government pension you will lose a portion of your SocSec each month- about $400 under current rates.

This may have made sense when SocSec was first introduced 70 years ago, but given the low amount of most teachers' pension and salary it doesn't make much sense today.

Details:
2/13/2015--Introduced.
Social Security Fairness Act of 2015

Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to repeal the government pension offset requirement applicable...


Great question- not sure. It would be a great benefit for many famlies.

There is an identical companion bill in the Senate, SB 1651. Both are in committees. In the House: Ways & Means (Paul Ryan chairs); in Senate: Finance.
Bills have been there, since February, with no action taken.

Sweetwater - 10-18-2015 at 04:49 PM

Quote: Originally posted by woody with a view  


all that to say no COLA this year for the third time in 40 years! all hail Obama!


Yes, thanks to steady leadership and a totally obstructive GOP Congress, the inflation rate which erodes senior buying power has been negative. You can actually buy more (especially pesos) with your USDollar this year vs last year.

:O

tripledigitken - 10-18-2015 at 05:03 PM

The primary cause of this year's low inflation is the price of gasoline. Steady leadership or the Congress can claim no credit for that. Most everything else we purchase has increased this year! Food, automobiles, rents, real estate medical costs, etc. all have increased.

mtgoat666 - 10-18-2015 at 05:13 PM

Is you like SS, then vote democrat. If you want to see SS and Medicare gutted, taken away, then vote for GOP and tea baggers. The choice is clear.

KurtG - 10-19-2015 at 11:56 AM

Quote: Originally posted by Sweetwater  
Quote: Originally posted by woody with a view  


all that to say no COLA this year for the third time in 40 years! all hail Obama!


Yes, thanks to steady leadership and a totally obstructive GOP Congress, the inflation rate which erodes senior buying power has been negative. You can actually buy more (especially pesos) with your USDollar this year vs last year.

:O


My calculator tells me that since I started collecting SS 9 years ago my payment has increased by 15%. Considering that, I have trouble joining in the whining about no COLA for next year.

toneart - 10-19-2015 at 01:10 PM

Quote: Originally posted by bajabuddha  
Just had to turn out to be a partisan pizzing match, and still on page one.

NOMANIA STRIKES AGAIN. Just can't lay off.


Well...It is a political issue. The partisan replies are predictable and inevitable. You don't need a program to identify the players on BN. They have been distinctive here for years. :wow::yawn:

bajaguy - 10-19-2015 at 01:14 PM

Quote: Originally posted by toneart  


Well... You don't need a program to identify the players on BN..... They have been distinctive here for years. :wow::yawn:





Yes, you have been

toneart - 10-19-2015 at 02:01 PM

Quote: Originally posted by bajaguy  
Quote: Originally posted by toneart  


Well... You don't need a program to identify the players on BN..... They have been distinctive here for years. :wow::yawn:





Yes, you have been


Thank you, Sir!

toneart - 10-19-2015 at 02:04 PM

Quote: Originally posted by bajaguy  
Quote: Originally posted by toneart  


Well... You don't need a program to identify the players on BN..... They have been distinctive here for years. :wow::yawn:





Yes, you have been


Don't forget a period at the end of your sentences if you want to appear intelligent. :light:

bajaguy - 10-19-2015 at 02:11 PM

Appearances can be deceiving and highly overrated

Quote: Originally posted by toneart  
Quote: Originally posted by bajaguy  
Quote: Originally posted by toneart  


Well... You don't need a program to identify the players on BN..... They have been distinctive here for years. :wow::yawn:





Yes, you have been


Don't forget a period at the end of your sentences if you want to appear intelligent. :light: