Getting Social Security and working

[Tom D]

Individuals born in 1960 or later will receive their Social Security benefits at age 67. At age 62, reduced benefits may be received. However, those who wait until the full retirement age will receive a larger monthly payment. Waiting past the full retirement age will yield an additional 8% annually until age 70.

If you were born January 2, 1960 or later, then your full retirement age for retirement insurance benefits is 67. If you work, and are at full retirement age or older, you may keep all of your benefits, no matter how much you earn. If you’re younger than full retirement age, there is a limit to how much you can earn and still receive full Social Security benefits.

If you’re younger than full retirement age during all of 2025, we must deduct $1 from your benefits for each $2 you earn above $23,400.

If you reach full retirement age in 2025, we must deduct $1 from your benefits for every $3 you earn above $62,160 until the month you reach full retirement age.

 

[ZZGAMAZZ]

assuming you will live to be about 75. Time value of money issue.

SEVENTY-FIVE ????????????????????????????
Better be a hellofa lot more than that for me.
I personally don't plan on fitting into the damn niche of an actuarial table.
I got my future all figured out.
If my health remains stable & all my investments are successful, I will be able to retire when I am 135 years old.
At least I think that's the "retirement planning" concept I hear so much about.....

 

[Charles West]

SEVENTY-FIVE ????????????????????????????
Better be a hellofa lot more than that for me.
I personally don't plan on fitting into the damn niche of an actuarial table.
I got my future all figured out.
If my health remains stable & all my investments are successful, I will be able to retire when I am 135 years old.
At least I think that's the "retirement planning" concept I hear so much about.....

Hahahaha, very good.

 

[Tom D]

The current thinking is that 120 right now is the longest you can live. Of which how many years do you want to be in a nursing home, etc.
But recently read an article that within 20 years they will have solved the dying issue. But that certainly creates a lot of population problems.
The wealthy will be able to do it, the average person will commit suicide after the 2nd 100 years, or sooner, depending on their quality of life. Just my guessing.

 

[Fernando]

The current thinking is that 120 right now is the longest you can live. Of which how many years do you want to be in a nursing home, etc.
But recently read an article that within 20 years they will have solved the dying issue. But that certainly creates a lot of population problems.
The wealthy will be able to do it, the average person will commit suicide after the 2nd 100 years, or sooner, depending on their quality of life. Just my guessing.

Wealthy people want to live as long as they can especially so their heirs won't have to pay estate taxes. Also, it will take long time to spend billions let alone millions instead of giving it to the kids who didn't earn it.
I thought I read Adam and Eve lived to be 120 or was that 150. That's the maximum age humans can live without science intervention.

 

[Mark K]

SEVENTY-FIVE ????????????????????????????
Better be a hellofa lot more than that for me.
I personally don't plan on fitting into the damn niche of an actuarial table.
I got my future all figured out.

I'm sure that about 1/2 of the men in the US thought the same thing before they died before reaching the median life expectancy of about 77 years, +/-.

 

[Tom D]

Adam & Eve lived to be 800 yrs old.
Typically, inheritance money is squandered by the 3rd generation. However, with mega fortunes, might last a while. Walmart had his kids in the business working. Typically, the kids aren't as smart, or hard working, like the parent was. Money comes to easy, goes to easy.

The average american have gotten fat which is an early exit to a long life.

 

[Fernando]

https://www.cnbc.com/2017/07/06/billionaires-who-wont-leave-their-fortunes-to-their-kids.html

7 billionaires who won’t leave their fortunes to their kids​

Even though 68 percent of millennials expect an inheritance, only 40 percent of parents will probably leave them one. And while mostly the offspring of the one percent are likely to be among those who will one day inherit their parents’ wealth, not all billionaires’ kids will be so lucky.

Many business moguls, such as Bill Gates and Warren Buffett, plan to donate their fortunes to charity instead.

 

[ZZGAMAZZ]

The current thinking is that 120 right now is the longest you can live. Of which how many years do you want to be in a nursing home, etc.
But recently read an article that within 20 years they will have solved the dying issue. But that certainly creates a lot of population problems.
The wealthy will be able to do it, the average person will commit suicide after the 2nd 100 years, or sooner, depending on their quality of life. Just my guessing.

Several sci fi movies over the years about that scenario. Always interesting to watch an old movie about the future, when it has already arrived..

 

[ZZGAMAZZ]

I'm sure that about 1/2 of the men in the US thought the same thing before they died before reaching the median life expectancy of about 77 years, +/-.

My mom's lament at 90 was that the worst part of living was that all of her friends had died. Even at my young age, way more than half the folks I grew up with have died, although growing up right on the cusp of sex n drugs n rock n roll took its tool for sure.