Lets get to know the Retirees

The way they come up with your monthly SS check is you must have worked 40 quarters or a solid ten years. They take your highest quarter and go with that number. I check it out and I got a bonus a couple years ago so I have one quarter that is really inflated in my favor.
 
kevinpaul said:
The way they come up with your monthly SS check is you must have worked 40 quarters or a solid ten years. They take your highest quarter and go with that number. I check it out and I got a bonus a couple years ago so I have one quarter that is really inflated in my favor.
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See the link in post 41. It’s the SSA formula.
 
Don O said:
By how much you put in. Here’s the SS formula.

https://www.ssa.gov/pubs/EN-05-10070.pdf
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From an outsider looking in ...
This formula, quote, "calculates your average indexed monthly earnings during the 35 years in which YOU EARNED THE MOST".
Similar rip off system as Australia personal superannuation, all geared to make you want to stay JUST ONE MORE YEAR as most earn larger amounts at the end of their career.
In addition to our personal superannuation we have an aged pension and disability pension system for those without or only small superannuation, it's a flat rate of $888.30 per fortnight or $1,339.20 per fortnight for couples living together.
 
Sp8ctre said:
From what I can gather from my daughter who has recently become a Christian you teach the science that fits...she is very well educated and is educating her
children very well. I think I'll ask her...
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Science that fits - what? It was Karl Popper who finally codified what science is, and how it must be done to produce credible results. Part of that is that you must follow the evidence, not try to lead it. Certainly you can't ignore the evidence just because it goes somewhere you don't like - you miss out on your Nobel prize that way. And at every stage, everything you decide to accept - even temporarily - as fact must be falsifiable. All of this would seem to make good sense.

That is what science is for me.
 
kevinpaul said:
I know that the Catholic University and public or state both teach the same stuff. I teach at a state owned university and the medical school is not working on facts. All real all the time and my classes at the monastery are the same. When I am working in surgery I prefer to be lucky instead of good.
No one knows the difference at the end of the day.
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What level are you teaching? That obviously makes a great deal of difference in what you cover, and in what depth. In my work I make everyday use of Newtonian mechanics for calculating inertias, roll moments etc. Then I have to use Einstein for space probe trajectories and effective clock speeds. Finally Quantum mechanics in the details of the various sensors and microelectronic systems.

I like your Napoleonic approach to surgery. When choosing a new general he said "I don't care how good he is. Is he lucky?" Of course that didn't work out too well for him in the end.
 
Sp8ctre said:
Much of what you are saying is true, but I have seen many a man who I thought was healthy keel over within 6 months to 2 years after retiring and I honestly believe the lack of something meaningful to focus on played a part...and I'm talking about guys between 48 - 58
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Yes. I do plan on retiring from this job. Or, if I got another job before I reach retirement age, I'll retire from that one. But, I was thinking the other day, I would literally go nuts not to have some kind of work.

I am in excellent health and if my family history is any guide (one of my uncles lived to 99), I'll be around long after retirement age. To me, it's more than just keeping busy. It's about doing something to earn an income, simply because that's what I've done nearly my whole life. Even if I don't need to earn money, I would want to earn money.

I know...

I'll start a guitar forum!!!
 
DonP said:
What level are you teaching? That obviously makes a great deal of difference in what you cover, and in what depth. In my work I make everyday use of Newtonian mechanics for calculating inertias, roll moments etc. Then I have to use Einstein for space probe trajectories and effective clock speeds. Finally Quantum mechanics in the details of the various sensors and microelectronic systems.

I like your Napoleonic approach to surgery. When choosing a new general he said "I don't care how good he is. Is he lucky?" Of course that didn't woruk out too well for him in the end.[/QUOTE

The student I have been teaching are to become priests. This place was just met the requirements to offer BA and limited BS degrees. The medical school is the University of Pittsburgh Medical School. I would suck as a high school teacher because I don't have to personality to put up with excuses.
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The vast gravity of the situation at the monastery is for guys that are never going to build rockets or design a interstate highway system. I am not training engineers but people with a completely different skill and mind set. They are very intelligent men but not in any hurry to walk around on Mars
 
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Thought for a mo you had just repeated my post - then I saw your reply stuck in the quote.

I do a bit of tutoring to a few kids, but they are all motivated ones who want to parlay an A into an A+. I can't be bothered to hammer stuff into the brains of the ones who will clearly never need it. 95% of people are served perfectly well by the maths they learned when they were eight.
 
DonP said:
Thought for a mo you had just repeated my post - then I saw your reply stuck in the quote.

I do a bit of tutoring to a few kids, but they are all motivated ones who want to parlay an A into an A+. I can't be bothered to hammer stuff into the brains of the ones who will clearly never need it. 95% of people are served perfectly well by the maths they learned when they were eight.
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I agree with that, many women can't balance a checkbook. I saw that as a problem when my mother had to get a friend to show her after my father died. I have come across it with older women after their spouse past away. Years away from school so many basics are forgotten.
 
My Wife certainly can. She was an office Manager for a large Union for 36yrs. She used to do Financial books for Canadian District Counsel. And she looks after our expense's and does a great job. My job is looking after our Investments.
 
WavMixer said:
Do the math Cat. Figure how much money you will have accumulated if you start collecting now. I believe that the max anyone can collect at age 62 is roughly $1200 per month. Multiply $1200 by 12 months and that is $14,400 annually until the day you die. If you start collecting at 67 the pay goes up to $1600 per month which is $19,200 annually. Wait til you're 70 and the monthly payment is $2000 or $24,000 annually. These were the rates a year or two ago when I was calculating this all out in consideration of my retirement date. Prices may have changed, but the percentages are probably the same.

By my calculations, if you wait until 67 to retire in order to gain an additional $400 per month, you will not have collected $72,000 you would have been paid from the ages 62 through 67. Hmmmmm.... $72,000 gone for an additional $400 per month? I think I would rather have the $72,000 now. Those interested in other variables like how much would you forfeit if you wait until age 70 to retire, I invite you to open up your calculator and do the math.

So now that I think that I would rather retire at 62, I know that I can't afford to. From what I understand, a person can work after they start retire but are limited to how much they are allowed to earn. I need a full time job and side job just to make ends meet now. So the bottom line for me is, I will be working until the day I drop down for a dirt nap, or BBQ as the case may be.
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The Government throws the increases in Pension out there hoping you will wait longer to collect your pension , which in turn you continue working paying taxes, plus your getting older at the same time, and increases your risk of death, which in turn if you die before you collect, the Government doesn't have to make any payments. The way to do it is Retire at the earliest time if you can afford it and start getting the money. You working longer is in the best interest of the Government, not yours.
 
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eSGEe. I took my Canada Pension, early at 60 I had to take a penalty of 30% for doing this. If I live to 74 I break even. If I live past 74 they are paying me. The Government here dangles the carrot as well , 65 is Retirement age for Social Security, but if you decide to work to age 70 they will increase it. When I turn 64 this year , the Government will send my notice to apply, I will be filling out the paper work, then I will receive my first check the following year on my Birthday. My advice is if you can afford it retire as soon as possible and enjoy life. We don't know how much time we have. I worked hard for my Pension, I want to get as much as I can from it. Its better in my pocket than the Governments.
 
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