Social Security announcement

[eveled]

I keep seeing an ad pop up, not here but in my news feeds.

It basically says the age to collect social security is going up. With a picture of Trump.

The thing is they are referring to the decision that has been in place since 1983.

If you were born in 1955 full retirement age is 66 then it increases incrementally up to age 67 if you were born 1960 or later.

All old news, nothing to do with Trump. If you take the headline at face value with his picture as I'm sure most do. You would think Trump was ripping us off.

It is unbelievable how they can twist everything into a political weapon.

 

[rugerguy]

you got that right ,still to this day "spin" by the demoncrats, and it goes on and on, but now it is being called "Trumpaphobia" they just hate him and us, so bad,,,sorry but they are just "sick" and very "unAmerican"......

 

[Yaworski]

A blurb for a new story popped up on Yahoo. The headline was about Trump inviting the B-2 crews to the White House. The pic that went with it was Trump making a goofy face. TDS.

 

[Mobuck]

The Dems are still shooting holes in their own boat even as it sinks.

 

[XUSNORDIE]

I've seen that ad. Trump has nothing to do with it. I've been worried about SS before Trump. My biggest worry came when Biden had already eaten most of my 401 K and my health worsened as I got older. It will be 62 on the dot for me to apply. If I can stay employed. Just finally got a needed surgery scheduled (after dealing with a unethical/inept health insurance) that will put me out for 12 weeks, or more. I'm sure shortly after my return I will most likely be given the "package". It's a young persons environment now. They are recruiting straight from college, half your age, half your salary and twice as fast. I will return a couple weeks before turning 61. The "package" will at most be about half a years salary. Stock Options already fully vested at 60. I can pull from 401K w/out penalty but that was heavily disintegrated the past 4yrs. So, 62 for me. I'm not worried about Trump stopping me from collecting.

 

[kmoore]

Social Security related: The no tax on SS benefits, I checked to find out if I should stop having money taken out by SS to pay that tax. Everyone should look it up since amounts change by your income level and taxes are still due if you pay federal SS tax. It's a deduction we get if on SS when filing taxes. Still a good deal but we still pay the tax. The deduction amount depends on our income/married or not and type of filing. It says the max amount anyone could get is 6,000 bucks.

 

[blume357]

No different than the revolutionary plug in electric heater that will keep you warm all through the Winter with the picture of Elon beside it....
I honestly don't think it has anything to do with politics other than these various companies selling Chinese crap are using our political divide to make even more money off of us.
I get all kinds of emails with usually conservative bent headlines and every one of them will link me to the latest fat fighting, erection making, prostrate shrinking, solar powered generator, (the list goes on) .... that I can buy and my life will be now be wonderful. I guess it's all driven to: MBGA, Make Blume Great Again. which is a take on the greatest political scam ... brain washing scheme somebody ever came up with....

 

[Jeepnik]

I'm confused. Folks say that their retirement investments 401's, IRA's, etc have lost money in recent times.
I run a monthly spread sheet that includes all of my investments. So I can see monthly, yearly and to date where I am.
Yes, there have been periods where the list money. The most recent was a few months ago. But by last month I had recouped that and then some. It happens, but long term, and that's what counts I am well into the black. And this includes times I have taken substantial amount for things like new roof, sewer line new pickup, etc.
I think folks tend to remember the loses.

 

[XUSNORDIE]

I'm confused. Folks say that their retirement investments 401's, IRA's, etc have lost money in recent times.

I'm not confused. My 401K quarterly statements tell the story pretty well during a certain 3.5 year span. I never took a loss until then. The gigantic quarterly losses have stopped, but the gains are not what they used to be and there is no way to recoup what was lost and be back on track. It is estimated that my 401K will be approximately 38% of what was forecasted at the date I wanted to retire.

 

[Jeepnik]

Well, apparently your investment strategy hasn't been as good as mine.

 

[wproct]

I hate to tell you, but both sides play the same games. You have to verify for yourself but they are counting that you wont.

 

[XUSNORDIE]

Well, apparently your investment strategy hasn't been as good as mine.

Possibly. Unfortunately I don't have a lot of say as to what investments are placed. I have very few options. I can select a percentage (to the cap per salary) to be deducted, and an aggressive play or less aggressive play. I never had issues and great faith in it from 1999 until 2022 when the gains dropped, and started getting bigger each statement. Last two statements have been slight gains. I'm not alone in this experience, have a very large head count same thing.

 

[Dan in MI]

XSUSN....
If I get this right, you can only pick a strategy, not what that strategy is invested in? If that is correct I’d look into moving all of the 401 into an IRA. But you’d need to have decent grasp on investing. Decent not masterclass.

My results are very similar to Jeepnik’s. Huge hits through the Biden years, but currently at an all time high. (with no new investment cash)

 

[XUSNORDIE]

If I get this right, you can only pick a strategy, not what that strategy is invested in?

That's correct. When I turned 60 we started looking into various ways to re-invest it. Same with my stock options since they all fully vested at 60. Yes it was the majority of the Biden years that it was showing large chunk losses. Gains are coming back, but certainly not at all time highs (for me).

 

[blume357]

I'm confused. Folks say that their retirement investments 401's, IRA's, etc have lost money in recent times.
I run a monthly spread sheet that includes all of my investments. So I can see monthly, yearly and to date where I am.
Yes, there have been periods where the list money. The most recent was a few months ago. But by last month I had recouped that and then some. It happens, but long term, and that's what counts I am well into the black. And this includes times I have taken substantial amount for things like new roof, sewer line new pickup, etc.
I think folks tend to remember the loses.

I have a close friend whose stock investments have grown from 2.25 million to just over 2.5 in the last 9 months....her secret is she has not touched them in the last 25 years... one month back in 2008 she lost over $80,000......

 

[krw]

I have a close friend whose stock investments have grown from 2.25 million to just over 2.5 in the last 9 months....her secret is she has not touched them in the last 25 years... one month back in 2008 she lost over $80,000......

Thats 11% increase. Good for last 9mo's but not over the top. One thing everybody needs to inderstand when your talking investments and graphs. If You hav 3 million in your portfolio and you take out $4k/mo your graph is gonna look a lot different from someone who has $850k and withdrawing $4k/mo. Everybody can discuss %'s but a graph is worthless without a scale to go by. My bal as of 1-1-25 not counting my max Simple contribution this year, I am up 6%. But I am not taking any withdrawals obviously. I also pay 1% brokerage fee and since I am self employed I don't hav an employer match either