What will you do, if/when you don’t receive your social security check on the day of the month you’re supposed to ?
For retiree’s on Social Security
- Thread starter Hawksfinal4
- Start date
Go back to work? Start living off our 401k? Sell the house?
I will be calling my Iowa senators who are not worth a crap and calling the 4 lame ass US reps from Iowa.
I will be in a hard discussion with them that they need to get this fixed and Doge out of the SS system.
I will say we will be marching on their offices and houses immediately and I will join the people.
We can survive a number of years without SS but I would have to go back to work at 73 years of age or else risk just living off our retirement and watching those funds dwindle down. I want most of those funds to go to my kids and grandkids.
The better question is, what will you do with your extra money when Trump takes away taxes on ss.
If that’s all you got you are already used to it
I'm on SS, but please Donald, stop SS! The country needs this. I'll sit back and enjoy the revolution. A change the country need desperately.
With RMD, dividends, interest on savings, and a small pension from a long ago job, I could maintain my current life style for a long time.
I'll enjoy the Trump voter's howl.
With RMD, dividends, interest on savings, and a small pension from a long ago job, I could maintain my current life style for a long time.
I'll enjoy the Trump voter's howl.
You forgot forego prescription drugs.
Go back to work? Start living off our 401k? Sell the house?
Sorry, i'm NOT taxed on SS, I LIVE IN A REAL STATE, THAT FIXED THIS YEARS AGO.
Im assuming you support Trump fixing this for the rest of the country then?
Don't you have to pay federal taxes on SS benefits?
I’m in favor of increasing the provisional income limit, which hasn’t been increased in 32 years, but not eliminating taxes entirely on social security.
It’s a chunk of what I live on every month but I guess I’m one of the very lucky ones who could squeeze by. For years, and I am at an age where I’m realistic about being in the middle of the fourth quarter of my life.
But SS is not going away. It would mean the collapse of our economy because there are factors here that some of the trolls, foreign bots and frankly dimwits don’t understand; their mission is to sow panic and discord in this country.
How many of you realize that suddenly the housing market collapses, followed very quickly by consumer spending and grandparents sleeping on your couches? Did you sleep your way through your high school economics class every day?
But SS is not going away. It would mean the collapse of our economy because there are factors here that some of the trolls, foreign bots and frankly dimwits don’t understand; their mission is to sow panic and discord in this country.
How many of you realize that suddenly the housing market collapses, followed very quickly by consumer spending and grandparents sleeping on your couches? Did you sleep your way through your high school economics class every day?
The first $25K is exempt. I’m going to check on that. But it is definitely not taxed on the full amount.
The link below says:
You must pay taxes on up to 85% of your Social Security benefits if you file a:
- Federal tax return as an "individual" and your "combined income" exceeds $25,000.
- Joint return, and you and your spouse have "combined income" of more than $32,000.
Must I pay taxes on Social Security benefits?
You must pay taxes on up to 85% of your Social Security benefits if you file a: Federal tax return as an "individual" and your "combined income" …
www.ssa.gov
It’s been left up to each state whether or not to tax SS or any pensions. Some states, for example, offer their teachers a pension that is tax free.
That’s correct - thanks for linking the info.The link below says:
You must pay taxes on up to 85% of your Social Security benefits if you file a:
If you are married and file a separate return, you probably will have to pay taxes on your benefits.
- Federal tax return as an "individual" and your "combined income" exceeds $25,000.
- Joint return, and you and your spouse have "combined income" of more than $32,000.
Must I pay taxes on Social Security benefits?
You must pay taxes on up to 85% of your Social Security benefits if you file a: Federal tax return as an "individual" and your "combined income" …www.ssa.gov
I've planned on never getting one because of how much our government wants to "spend".
Frankly, I'm surprised they haven't phased out SS payments if you are above an income threshold like they do with just about every tax credit and deduction applicable to ordinary citizens.
I would be in favor of letting citizens have their own money to do what they want to with it.
Newsflash: When Boomers raised this issue in the 80’s we were told (often by our parents nearing retirement age) to shut up and sit down.
So we began funneling money (pre-tax) into 401’s and IRA’s. Suggest y’all do the same and make them Roth accounts. Like, now.
They do. The max amount anyone can get at the higher levels of income say a Doctor might earn doesn’t come close to matching.
Well, I don't think that will be happening. More likely, they take SS out of your paycheck and it is just stays in the kitty to cover payments to others, rather than having to borrow money to make payments to others. With that being said, I'm not necessarily saying that isn't appropriate to solve our country's deficit problem.
They don't. They take SS out of your check until you hit the annual limit. For 2025 it is $176,100. So if you make $400K, for SS purposes they only tax it on the first $176,100. When you retire you get your calculated payment even if you have $400K still coming in. Nothing is phased out. At least, not to my understanding.
Unless you have no other income you are paying federal income tax on at least some of your SS.
NO, There is a dollar amount and if you are under that, YOU pay nothing, many don't even file income taxes. H@R asked why i was filing 5 year ago..
There are too many people that are too stupid to manage their own money. They would throw away their money and then still end up needing government handouts to get by. It is not the people who know how to manage their money who are depending on social security to survive.
President Musk and his fat, little buddy have no empathy for everyday Americans.
The Republican Party doesn't have the fortitude to say anything.
The next Dem President, like other Dem Presidents this century, is going to have a big mess to clean up.
The Republican Party doesn't have the fortitude to say anything.
The next Dem President, like other Dem Presidents this century, is going to have a big mess to clean up.
Correct. I had thought of adding that to my post but I didn’t.
The cap on earnings has to be increased because more households/individuals are exceeding that income. They’ll expect an attendant increase in their payouts as well. It’s a spiral.
(Let’s face it - a Dermatologist who’s making $700K a year selling “miracle” anti aging products to a growing demographic is never going to approach that amount in retirement and they shouldn’t either)
NO, i don't support brain dead liars that steal from everyday citizens.
Did I miss something? When did they stop SS payments?
And they failed to fix it when they were in power because?
They didn’t. The ChiCom bots are just really busy today. 💩
So you’re an independent voter then?
I would rather see them increase the annual limit while keeping the payout for ss the same. This would bring in significantly more money from the higher earners, while still providing a payout for those who need it. Even people that made a lot of money during their working years go broke in retirement. There are a lot of people out there who don't know how to manage their money.
Unfortunately, If Trump would raise the annual limit, this would be considered a tax on the middle class because it would lead to more taxes being taken out for those makine 176,000 - whatever the new limit is. Dems would love to use this against Trump. Even though it could solve the social security issue.
#1 - You're a dumb fvck with these fake news takes.
#2 - If I were a retiree on only social security, and my check stopped, I'd probably kick myself for decades and decades of poor choices, spending habits, and inept saving.
100% agree. Doctors for example - they tend to be very good at medicine and not great on financial matters.
(I have a great buddy from high school days who is very lucky to have a saint for a wife who manages the household finances - she’s also in the medical profession but far more savvy about $$)
