Yeah, like I said, I don’t remember. Doesn’t really sound like something I would say.
Social Security benefits to jump by 8.7% next year
- Thread starter cigaretteman
- Start date
Well, he is 68 and he's obviously had a hard life.
My age isn’t relevant. Let’s try to get back to the topic at hand. I don’t get personal with people on here, not sure why I’m getting all of these questions.
Social Security is going up because of inflation Tom. So yes...I believe this because it's true.
Millions of Social Security recipients will get an 8.7% boost in their benefits in 2023.
That’s a historic increase and welcome news for American retirees and others — but it’s tempered by the fact that it’s fueled by record high inflation that’s raised the cost of everyday living.
The cost-of living adjustment means the average recipient will receive more than $140 extra a month beginning in January, according to estimates released Thursday by the Social Security Administration.
It kind of is in this thread. You seemed to be complaining that SS will collapse before you are able to collect when in reality you could have been collecting for 6 years if you started at 62.
Part B decreased because the perceived use/ cost of an Alzheimer’s med failed to materialize. The Part B decrease is about $5/ month.
One of the best things on a message board is when a poster forgets their lies, and gets called out for it.
Do better @NCHawk5
Do better @NCHawk5
It should have been increased years ago...like when I was still working.
Here’s the news for NCHawk5 or whoever you are:
Boomers, just like our own parents and grandparents didn’t have a choice.
Back in the 80’s a proposal was floated to give workers a choice whether to do the traditional SSI route or to create our own retirement plan - sort of like an IRA.
It was voted DOWN by Congress.
I had a part time job AFTER I retired and in the 3 years I had it my paycheck still deducted SSI and Medicare. Even though I was on SSI/Medicare!
I get a “decent” amount of money but I still pay $4.29 for a dozen eggs like working people. The increase I’ll get will help but not match inflation.
Back in the day, middle 70s, we received COL raises every quarter. One quarter our COL raise was larger than our negotiated UNION raise for the year. Just think if that happened this year, the stink'n cons would be squealing like stuffed pigs going to slaughter.
Exactly.
I supplement my mother's income...it's either that or she lives with us. Neither wants that.
You were the OP of the following thread correct?
Turned 68 Today, Celebration Ideas?
I do have Viagra so hookers are on the table. I can’t do cocaine because of a heart condition. Any ideas HROT?iowa.forums.rivals.com
If @NCHawk5 was a terrorist...he'd be that guy. Blown up in his basement by his own explosives. Which is kinda reassuring when you think about it.
I was in a plant last week that had their union sign a six-year deal in late 2019. First 3 years at 2.5, last three 3% with increased health contributions.
If all you receive is SS it is not taxed, but you must pay tax if you file a federal tax return as an “individual” and your “combined income” exceeds $25,000. If you file a joint return, you must pay taxes if you and your spouse have “combined income” of more than $32,000. If you are married and file a separate return, you probably will have to pay taxes on your benefits.
50% are. So if you get say, $30K a year the amount subject to tax is $15K.
You should be playing Kirklands anyway. My private BC & BS Medicare supplemental just went up 15%, thanks Joe…It’s an extra dozen of premium golf balls per month!
Are you saying I should identify as a woman for insurance purposes? The wife’s premiums BC & BS are 15% lower than mine.
Likely time to go to alt handle #132 till this blows over.
Mine (supp) changed in July… it went up a bit ($46/ month, 13.7%) and I have one of those “Cadillac” plans… so I netted a nice profit… but again, I had a productive year this year….No one is better at doing nothing all day than I! With apologies to Bachman/ Turner and their overdrive.
I do have some Kirkland that I use as the weather cools down. $1/ ball is a great value for them. However, I have gravitated to the Calloway and Titleist “soft” this past summer…but I can afford them regardless.
BTW…. How ‘bout them Cardinals?!
Yeah, it was an Alzheimers drug (Aduhelm). Monthly premiums went up by about $22 from 2021 to 2022, with roughly $10 of the increase intended to build up a reserve to cover the anticipated cost of that drug. CMS ended up limiting the coverage for the drug, and in response Biogen significantly decreased the price. The lower price & decreased coverage for it is the main reason for the decrease in premiums from 2022 to 2023.
For those with higher income, up to 85% of SS benefits can be taxed.
The cap needs to be increased like yesterday because the well is going to run dry in ten years. FWIW, at age 32 I don’t see a scenario where I get more than 50% of a benefit in retirement. There’s no way I’m assuming it’ll be there.
For the record, I'm pretty sure the cap on income level that applies to FICA has been going up pretty much every year.
this thread is hilarious. great job by @gohawks50 for calling out the troll
I assume that depends on your total income.
"In April 2022, the average monthly benefit for retired workers was $1,666.49. "
That's a fraction under $20K/yr. If that was the total income for some SS recipient, I don't think they would they pay any tax at all, would they?
The average Social Security check increased this year due to inflation: Here's how much it is
With record-high inflation, Social Security benefits increased nearly 6% from last year.
I assume that depends on your total income.
"In April 2022, the average monthly benefit for retired workers was $1,666.49. "
That's a fraction under $20K/yr. If that was the total income for some SS recipient, I don't think they would they pay any tax at all, would they?
The average Social Security check increased this year due to inflation: Here's how much it is
With record-high inflation, Social Security benefits increased nearly 6% from last year.www.cnbc.com
It does depend on your overall income. Basic idea is this:
*divide your SS benefits by two;
*add that 50% to your other income (including various "tax-exempt" income, such as interest on state & local government bonds)
If the total is higher than $25k for a single person ($32k for a married couple), then you go to the spreadsheet from hell to calculate how much of the benefits are taxable.
In general terms, for most people of moderate means it will be roughly 50% of the benefits taxable; for high income it can be as much as 85% of the benefits taxable.
Similar threads
