Posted: 4/20/2015 3:17:57 PM EDT
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How many ARFCOMERS are currently collecting SS? Whether it be old age, disability or any other way you can collect.
I'm curious to know just how much you get on a monthly basis. I've never really considered receiving SS an option but the other SS 'fix' thread has me wondering what kind of benefits those able to collect then are even getting. |
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I'm not collecting but I do get an annual report from the SSA with my projected amounts.
I have 8 more years before I'm eligible and I'm not counting on getting a dime of my taxes back from it. IIRC I'll get +$1800 per month early and +$2700 a month full retirement age. |
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Is it a sliding scale? IE does the guy who put in for 50 yrs. gets back more than the 25 yr. old battling depression? The SSI that your retired person who paid in is separate from SSDI which is what your 25 year old would be getting (though I think they could get both). |
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The SSI that your retired person who paid in is separate from SSDI which is what your 25 year old would be getting (though I think they could get both). Quoted:
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Is it a sliding scale? IE does the guy who put in for 50 yrs. gets back more than the 25 yr. old battling depression? The SSI that your retired person who paid in is separate from SSDI which is what your 25 year old would be getting (though I think they could get both). This. They will get different amounts, but that has nothing to do with "how long they put in for". The difference in amounts would be because one is age based social security and the other is disability. |
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What I get for paying into SS for almost 55 years of work is not the same as SS Disability.
Whenever I get involved in SS threads I think back to 68 or 69, watching Walter Cronkite's narration of the Congressional hearings about what to do with the SS surplus. The fuckers dumped it into the general fund a spent it all. |
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On avg the SS retirement benefits that I see range from $14k to $18k per year for the
primary worker. A few run closer to $10k, and a couple maybe as high as $24k. And it's a sliding scale based on 35 years of work history. After you max out the first couple of tiers you only get a small bump in benefits for the additional amount paid in. Just a wild ass guess but I'd say a person that averaged $50k a year working probably gets 75% of the benefits of a person that did $100k - despite the fact that the higher paid person paid in 2X as much. |
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Quoted: Is it a sliding scale? IE does the guy who put in for 50 yrs. gets back more than the 25 yr. old battling depression? http://www.ssa.gov/oact/progdata/retirebenefit1.html I'm not certain about disability, but it's on the SSA.gov website somewhere. |
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If you take it at the earliest age you can collect you will lose an additional 8% per year for the next 3 years. After those 3 years it still will go
up every year you don't collect at a smaller % till you reach 72. The name of the game is to figure out if you will come out ahead by delaying your benefits and how should your spouse collect if you are married. For me in a couple of years I will be ready to collect early but if my health is good I will delay. All so when you do delay it gives more options to your spouse if you do happen to kick the bucket. Another thing is I plan on not taking out more in my 401k money that will end up taxing my ss. |
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I was on disability at age 60. Had a stroke, heart surgery and a brain tumor in a six month period. I am now 65. I get about $2500 a month before taxes. 25% is witheld for income tax. There is no deduction for social security tax. I am on Medicare and that is deducted from my monthly check. I pocket about $1500 a month.
I have no idea what social services are available. In Texas, my property taxes were frozen 5 years ago because of my disability. Currently, in Texas, property taxes are frozen at age 65. Health wise I have short term memory loss from my stroke and I have vertigo 24/7 from my brain surgery and deaf in one ear. The defect in my heart was repaired. |
| I get $2,500 a month, retired at 67yo due to wife going under Hospice care. I was planning to work until 70. Got tired of ''sitting around'' a year after wife passed away and decided to go back to work. Then--- my right knee got swollen up and was real sore-- torn meniscus. Every thing is/was paid for, I can get by, 50 years of working is enough. Retired for good now, it seems. |
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This. They will get different amounts, but that has nothing to do with "how long they put in for". The difference in amounts would be because one is age based social security and the other is disability. Quoted:
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Is it a sliding scale? IE does the guy who put in for 50 yrs. gets back more than the 25 yr. old battling depression? The SSI that your retired person who paid in is separate from SSDI which is what your 25 year old would be getting (though I think they could get both). This. They will get different amounts, but that has nothing to do with "how long they put in for". The difference in amounts would be because one is age based social security and the other is disability. Ah the ole lock box argument. Still relevant after all these years  pretty sure there no separate account for SS.
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SS is calculated on your highest years earnings over you last 30 years of work. You must also have a minimum number of years working. There is a calculator on the SSA.org site. Create an account and it will review the record of your actual earnings and calculate your benefit.
There is a huge debate over whether to take your benefits early. If you do, the break even point is at about 80-85 years. That is if you die before 80-85, you win the game. If you don't die, you will collect, cumulatively, less money. |
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Ah the ole lock box argument. Still relevant after all these years pretty sure there no separate account for SS.Quoted:
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Is it a sliding scale? IE does the guy who put in for 50 yrs. gets back more than the 25 yr. old battling depression? The SSI that your retired person who paid in is separate from SSDI which is what your 25 year old would be getting (though I think they could get both). This. They will get different amounts, but that has nothing to do with "how long they put in for". The difference in amounts would be because one is age based social security and the other is disability. Ah the ole lock box argument. Still relevant after all these years pretty sure there no separate account for SS.Huh? I am not sure what you are trying to argue here. They are both social security, but the payout is different depending on if it's for "SSDI" or "SSI". I think most people know that there isn't some bank account holding all the money you have put in to social security by now. |
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Wow, that's a lot more than I imagined. For some reason I was thinking less than a G a month. It's based on the average amount you pay in over your 35 highest paid working years. If you only work/contribute for 30 years, five zeros are included in the average. |
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They are both social security, but the payout is different depending on if it's for "SSDI" or "SSI". I think most people know that there isn't some bank account holding all the money you have put in to social security by now. Wrong! They are not both social security. Supplemental Security Income is a welfare program...it is only administered by the Social Security Administration... "SSI is financed by general funds of the U.S. Treasury--personal income taxes, corporate and other taxes. Social Security taxes collected under the Federal Insurance Contributions Act (FICA) or the Self Employment Contributions Act (SECA) do not fund the SSI program." See here... |
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There is a calculator on the SSA.org site. Create an account and it will review the record of your actual earnings and calculate your benefit. Gotta be careful when doing this. When I ran the estimate, it assumed I stopped working at my current age (40) instead of working until retirement age. This calculated a monthly benefit of about 50% less than what was estimated on the annual statement. The annual statement actually assumes you will work until retirement age and gives a far more accurate picture of your benefits. The annual statement also states that there will only be enough funds available to pay 76% of my estimated benefit 
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I've never received any statements. Do they start coming later? Info |