Social Security

[Colonialgirl]

WOW!!
Just got the notice from the social security people; I'm going to end up with a WHOLE $10/month INCREASE in my monthly check !!
(Hmmm, Where is the sarcasm font selection?)

 

[Bob Wright]

Wow! Nita and I get $11.91/month more.

Our Medicare supplement went up $12.00/month.


Bob Wright

 

[Fox Mike]

We figure that the incease will be just enough to bump us into the next higher tax bracket.

 

[blume357]

Good for you, I think mine was about 3 dollars.

 

[Pat-inCO]

Mine is just about enough to pay for half of a dinner out (medium priced place),
or at one of the buffet places . . . that's one per month. :roll:

Look on the positive side CG . . . . at least it didn't go down. :wink:


P.S. I can now afford to buy one lotto ticket per drawing. At least that way I may
hit the one in ten million chance and have enough for two full meals per month.

 

[Mobuck]

I got notice that my annuity got a $60/month bump but health insurance also got a $30/month bump so I ended up with $1/day increase.
That buys me 80 Kuerig pods or 12 gallons of gas a month. Better than nothing.

 

[Slyk Willy]

1.6% is huge!!!

 

[Pat-inCO]

1.6% is huge!!!

Compared to what 0bummer did, that's true.

 

[BearBio]

I'm getting $190 less (they will start taking out my Dental, Vision, and Long-term as a deduction instead of billing me!)

My TI calculator tells me $46.53/mo.

 

[don44]

1.6% is huge!!!

Compared to what 0bummer did, that's true.

Ain't that the truth.

 

[Lone Wolf McQuade]

Will take home an extra $19 a month.

 

[CGDustDevil]

Don't worry... You don't get anything for nothing out of Big Daddy. Your medicare deductions will be going up too.

 

[Ale-8(1)]

In celebration of my "raise" we're going to go out for breakfast tomorrow morning . . . to Waffle House.

8)

 

[protoolman]

I've got 12 years to go before I can draw. Hope there is enough left I can get some later!

 

[blume357]

Y'all be glad... I have a close friend who because of her investment income last year... they decided to deduct over $600 from her check to pay for medicare.... every month.

 

[kramden]

Must be the crumbs Nancy (Big Mouth) Pelosi was talking about.

 

[Ordguy]

My Social Security went up $11, Medicare went up $9. Half my yearly Social Security is still taxable.

 

[ronto]

Now you can purchase that condo in Hawaii you always dreamed of owning.

 

[Cholo]

↑ That's funny! I used to work at a big company and it was a running joke that whenever someone was promoted from the plant to a salaried position, they'd get a new BMW. It didn't matter that the promotion only paid about $20 per week more to start, invariably they'd spent $300 more per month on a BMW.

One guy just got promoted and I asked him what color BMW he was getting. He said: Black, and how did you know I was getting a new BMW? :mrgreen:

 

[vito]

I didn't expect any increase in my Social Security, but for me and my wife combined our check is going up $43 per month. Not a big deal, but nicer than no increase.

 

[Armybrat]

Our combined net SS increase will be about $4/month. We might go on a shopping spree at the Dollar Store!

 

[gramps]

Interesting, my SS went up $44, and my Medicare premium went down $10.90! WooHoo!
gramps

 

[gregs45auto]

and the politicians are whining about how much of a raise they need to live in D.C. Our insulting "increase" of $11.00 is a joke. greg

 

[Fox Mike]

Y'all be glad... I have a close friend who because of her investment income last year... they decided to deduct over $600 from her check to pay for medicare.... every month.

How much Social Security was she receiving PRIOR to the deduction. She obviously isn't yet over 70.

 

[GLASSMAN]

Mine also increased about 10.00 or so along with a similar Medicare raise.
BUT.... finally this year , as I still work, keep all my SS money. At least up to a limit I know I won't be near.

 

[Bull Barrel]

Once you reach full.retirement age there is no income limit.
At least that's what the ss folks told me.

 

[vito]

Once you reach full.retirement age there is no income limit.
At least that's what the ss folks told me.

That is correct, other than your premium for Part B of Medicare will increase as your total income increases. When I first started drawing Social Security, and was already eligible for Medicare (which starts at 65, even though full retirement age for Social Security is 67), I had about $350 a month deducted from my Social Security check, and the same from my wife's check (since we file our taxes as a married couple filing jointly). But after I fully retired and my income dropped precipitously, I returned to the basic premiums for Part B coverage ($144.60 as of this new year 2020). But your actual Social Security payment is not affected by your earnings after you reach full retirement age.

 

[Bull Barrel]

Full retirement age varies according to when you were born. My retirement age is 66 years, two months.

 

[vito]

My full retirement age was 66, when I hit that age 10 years ago. I knew that it was incrementally increasing toward 67 where it will remain until changed again by Congress, and I assumed we were already there. Once I retired I did not particularly pay attention to what that age requirement was for younger folks. Sorry if I gave out any misinformation.

 

[Pat-inCO]

I just had a shocker. The fire insurance (a metro fire department, not being in the city)
has expired. It was included in the closing costs when I bought this place. By the time
I pay that, I am in the hole $45 per month (from 2018 income). Sigh!

Well, at least it is less in the hole than it would have been.

On the positive side, the insurance also includes flight for life, and those are anything
but inconsequential iffin you need it. I guess that makes it a sigh.

Just shows to go you[sic], if you think you are gaining on it (after retirement) you
have not considered everything. :shock:

:wink: