I just applied for Social Security benefits and ..

[Bud]

it took less than 20 minutes on the phone. They were pleasant and professional and I saved a 60 mile round trip drive to the office.

 

Way to go Social Security. Great customer service!!!!!!!!!

[Dave McReynolds]

Two more years; don't spend it all before I get there!

[drswift]

Their on-line support is pretty decent also.

[Paul Mihalka]

I am with Social Security and Medicare for many years and I am very satisfied with the system.

[Quinn]

it took less than 20 minutes on the phone. They were pleasant and professional and I saved a 60 mile round trip drive to the office.

 

Way to go Social Security. Great customer service!!!!!!!!!

 

I think I'd have waited until I got a couple of checks before I praised them.

 

 

[Paul_Burkett]

Way to go Bud, when you pay in to it you deserve to get it back, and I am sure you do.

[Bud]

it took less than 20 minutes on the phone. They were pleasant and professional and I saved a 60 mile round trip drive to the office.

 

Way to go Social Security. Great customer service!!!!!!!!!

 

I think I'd have waited until I got a couple of checks before I praised them.

 

 

Any reason to think I won't get the check?????

[Bud]

Way to go Bud, when you pay in to it you deserve to get it back, and I am sure you do.

 

Hey Paul,

 

Social Security is the biggest Ponzi scheme ever invented since the Congress started using the funds to balance the budget, or at least make it look balanced.

 

Depending on how long I live, I will get my contributions back in about 40 months. Then in another 40 months my employer's contributions will have been exhausted. After that, I'm costing everyone else every month.

 

But I still applied and will take all they are willing to give me.

 

For you younger folks, you already know there won't be any $ left for you and you are having to personally invest for savings while still having to pay the tax. IMO very unfair, you are paying twice and will collect once, if lucky in your investments.

 

When I think about Congress all I can do is sigh.

[Francois_Dumas]

[

For you younger folks, you already know there won't be any $ left for you and you are having to personally invest for savings while still having to pay the tax. IMO very unfair, you are paying twice and will collect once, if lucky in your investments.

 

The way it is looking here we are paying and won't get ANY money back..... too many baby boomers just ahead of us and too many jobless behind us !

 

I'll just ride until the money goes out and then we'll find a bridge to sleep under.. if there is still room for us by then. Probably even the bridges will be full !

[SweetP]

Applied on the 17th of the month, got the direct deposit on the third of the next month.

[RichEdwards]

The two month wait after your 62nd birthday is curious. But I'm not complaining. SS pays for my GT.

[VinnyR11]

Ahhhh..only on a BMW site can Social Security be the hot topic! Who says the motorcycling demographics are moving toward the aged?

 

I'm almost there as well.

[Marty Hill]

Keep it coming...10 years on the dole.

[ShovelStrokeEd]

January of next year for me.

The extra will sure come in handy.

[Fightingpiper]

Ahhhh..only on a BMW site can Social Security be the hot topic! Who says the motorcycling demographics are moving toward the aged?

 

I'm almost there as well.

 

I guess I am own the wrong bike as I have 29yrs before I can collect but as was stated there won't be much left....

[notacop]

I get the "offset" SS. I worked minumum wage in the days of yore and qualify but since I've fed at the qusai-governmental trough for 36+ years I only get 40% of the $500 I qualify for. Now that ain't gonna cover gas for my travel scheme but it might get me out of town.

Now all I have to do is live until next Feb and sign up....oooohhh!

Best part of 62 is going to the nearest National Park and get my Old Fart Card.

[Quinn]

it took less than 20 minutes on the phone. They were pleasant and professional and I saved a 60 mile round trip drive to the office.

 

Way to go Social Security. Great customer service!!!!!!!!!

 

I think I'd have waited until I got a couple of checks before I praised them.

 

 

Any reason to think I won't get the check?????

 

 

Bud, my only point is that you're counting your chickens before they're hatched. The government might not screw up very often, but they have been known to--even with the most helpful of verbage.

 

 

[hopz]

I filled out the application on-line, and they needed to see my military papers... so I elected to go downtown and do it in person.

 

I was reminded what the general population of our community was like and frankly if you do not run in those circles very often it can be a "scary" and enlightening experience.

 

Our bureaucrats in the Social Security office we nice people and efficient. My benefits began when they said they would and at the correct amount. While waiting my turn I could tell that not all the applicants were as easy to get along with and prepared as I was.

 

I'm thinking those SS workers face big challenges every day and they deserve every break they can get.

[RichEdwards]

If you've qualified for SS, then you're old enough for the Senior Pass.

The Senior Pass, according to the Federal Parks site, "admits pass owner/s and passengers in a non-commercial vehicle at per-vehicle fee areas and pass owner + 3 adults, not to exceed 4 adults, where per-person fees are charged." This include the National Parks and other Federal areas where an admission fee is normally charged. The Senior Pass costs only $10 and it's GOOD FOR LIFE. If one is younger, the "America the Beautiful Pass" is the one to purchase and it costs $80 PER YEAR. There are some benefits to getting older.

[Bud]

The two month wait after your 62nd birthday is curious. But I'm not complaining. SS pays for my GT.

 

Here is the deal. You get nothing in your birth month (Sept) for me. Then you get paid a month late so my Oct check won't arrive till Nov. I'll be happy to wait.

[Bud]

it took less than 20 minutes on the phone. They were pleasant and professional and I saved a 60 mile round trip drive to the office.

 

Way to go Social Security. Great customer service!!!!!!!!!

 

I think I'd have waited until I got a couple of checks before I praised them.

 

 

 

 

Any reason to think I won't get the check?????

 

 

Bud, my only point is that you're counting your chickens before they're hatched. The government might not screw up very often, but they have been known to--even with the most helpful of verbage.

 

 

My glass is half full so I'm confident that I will be OK.

[Bud]

If you've qualified for SS, then you're old enough for the Senior Pass.

The Senior Pass, according to the Federal Parks site, "admits pass owner/s and passengers in a non-commercial vehicle at per-vehicle fee areas and pass owner + 3 adults, not to exceed 4 adults, where per-person fees are charged." This include the National Parks and other Federal areas where an admission fee is normally charged. The Senior Pass costs only $10 and it's GOOD FOR LIFE. If one is younger, the "America the Beautiful Pass" is the one to purchase and it costs $80 PER YEAR. There are some benefits to getting older.

 

My wife and the couple we travel with all have theirs.

 

BTW My riding buddy got me into Rocky Mountain National Park on his pass even though we were on two bikes. His logic? Up to four (and conveniently skipped over the "in one vehicle" part). It worked.

 

I'm getting mine at the Gateway Arch on September 23rd. My buddy gave me the $10 for my birthday last year.

[Lets_Play_Two]

it took less than 20 minutes on the phone. They were pleasant and professional and I saved a 60 mile round trip drive to the office.

 

Way to go Social Security. Great customer service!!!!!!!!!

 

I think I'd have waited until I got a couple of checks before I praised them.

 

 

I have been dealing with SSA since my wife died 7 1/2 years ago. Never a problem and quick and easy telephone help. My kids and I have gotten direct deposit (don't do checks) every month on the 4th wednesday without fail. It is the one place I have found where you get the same answer from whomever you talk to and it turns out to be correct and prompt.

[Marty Hill]

Someone always has to have the HALF EMPTY GLASS. Every thing has run like a swiss watch for me and everyone I've ever talked to.

[Alan D]

 

"Depending on how long I live, I will get my contributions back in about 40 months. Then in another 40 months my employer's contributions will have been exhausted. After that, I'm costing everyone else every month."

 

Since I have been self employed for 26 years I have paid for both parts. (15.2%)

If I keep my business and retire at 62.5, they will deduct one dollar for every $2 I earn. After 66, they will deduct $1 for each $3 I earn. So, If my business goes bust, I'll retire.

 

 

[Bob Palin]

If I keep my business and retire at 62.5, they will deduct one dollar for every $2 I earn. After 66, they will deduct $1 for each $3 I earn.

Quite right too, it's social security, not a retirement plan.

[BFish]

"Depending on how long I live, I will get my contributions back in about 40 months. Then in another 40 months my employer's contributions will have been exhausted. After that, I'm costing everyone else every month."

 

Since I have been self employed for 26 years I have paid for both parts. (15.2%)

If I keep my business and retire at 62.5, they will deduct one dollar for every $2 I earn. After 66, they will deduct $1 for each $3 I earn. So, If my business goes bust, I'll retire.

 

 

after 66 (or 65) there is not a limit on what you can earn and still collect full social security benefits. you WILL still pay social security and medicare on any EARNINGS no matter how old you are. also, don't forget that up to 85% of social secuirty paid to you may be taxable depending on your other income.

[AviP]

Our SS woes are all Hitler's fault. If it weren't for him, we would not have sent troops to Europe and have them come back and create the baby boomer generation.

[Bob Palin]

Our SS woes are all Hitler's fault. If it weren't for him, we would not have sent troops to Europe and have them come back and create the baby boomer generation.

Uncle Adolf!

[marcopolo]

How does Social Security work in the U.S.? Does everyone who works have to pay into it, as a percentage of their earnings (to an annual maximum)? What's the minimum age you can begin to draw it, for how long, and what's the maximum monthly payout?

 

I suspect it's similar to our Canada Pension Plan (CPP).

[Dave McReynolds]

Employers and employees each pay 7.65% on earnings, which is a combined rate for Social Security and Medicare coverage. Social Security is due on wages up to a maximum of $102,000, while Medicare (1.45%) is due on all wages with no maximum. There are similar rules for self employed people, called the self-employment tax.

 

You can begin to draw Social Security at age 62, and full retirement benefits if you wait until a later age, which is a sliding scale depending when you were born. For me, it is 66. It is a benefit for me to wait until I am 66, since I intend to remain employed and would exceed the amount of earnings allowable for early retirement. As was mentioned above, there are no restrictions on how much you can make when you are over your regular retirement age. You are eligible for Medicare at age 65.

 

I don't know what the maximum payout is. To get it, you would have had to pay in the maximum for Social Security for 40 years during your working life. The highest I have ever seen on any of the tax returns I have done is about $2,800 per month.

 

The real benefit is qualifying for the minimum, since there are diminishing returns as you pay in more and more. You qualify for basic Social Security payments if you pay in for at least 10 years(40 quarters). Or, even better than that, don't pay in at all and marry someone who has paid in the maximum, and then have him or her die, and collect their's.

[StuGotz]

OooHHH!

 

Dave, you are evil.

 

MB>

[marcopolo]

Employers and employees each pay 7.65% on earnings, which is a combined rate for Social Security and Medicare coverage. Social Security is due on wages up to a maximum of $102,000, while Medicare (1.45%) is due on all wages with no maximum. There are similar rules for self employed people, called the self-employment tax.

 

You can begin to draw Social Security at age 62, and full retirement benefits if you wait until a later age, which is a sliding scale depending when you were born. For me, it is 66. It is a benefit for me to wait until I am 66, since I intend to remain employed and would exceed the amount of earnings allowable for early retirement. As was mentioned above, there are no restrictions on how much you can make when you are over your regular retirement age. You are eligible for Medicare at age 65.

 

I don't know what the maximum payout is. To get it, you would have had to pay in the maximum for Social Security for 40 years during your working life. The highest I have ever seen on any of the tax returns I have done is about $2,800 per month.

 

The real benefit is qualifying for the minimum, since there are diminishing returns as you pay in more and more. You qualify for basic Social Security payments if you pay in for at least 10 years(40 quarters). Or, even better than that, don't pay in at all and marry someone who has paid in the maximum, and then have him or her die, and collect their's.

 

Thanks. Sounds somewhat more comprehensive than ours. We have a yearly maximum insurable earnings (somewhere in the $40K range if I recall), so your contribution is a percentage of your gross earnings up to that yearly maximum. We collect 100% of the benefit at age 65, but can choose to begin receiving it as early as age 60, but will only ever receive 70% of the maximum payout if we choose to do that. The maximum payout is something like $750/month. However, for people like me who worked for the federal government, our pension plan (including contributions) is "integrated" with the Canada Pension Plan. That means if I choose to receive the CPP benefit at 65, my federal pension is reduced by a like amount, so no real benefit at all. If I opt to take 70% of my CPP benefit at age 60, my federal pension is only reduced at age 65, so I can collect 5 years of CPP benefits. However, when I hit 65, my pension is reduced by an amout equal to 100% of CPP benefits (not the 70% I actually received). Most people I know do that, as will I when the time comes.