Social Security at 62 - where to deposit funds?
YodaRules
11 years ago
Featured Answer
Sort by:Oldest
Comments (20)
sushipup1
11 years agolast modified: 9 years agoYodaRules
11 years agolast modified: 9 years agoRelated Discussions
Question about renters and security deposits
Comments (29)I simply do not understand the light-bulb issue. Unless all the lights were new when a tenant moved in, how is the tenant responsible for replacing the light bulbs? We are renting a large town-house, 3 floors with recessed ceiling lights. The ceilings are 12ft high. There are numerous ceiling lights throughout the house. Four bathrooms with both ceiling lights and vanity lights. Multiple driveway spots, some up on trees. When we moved in, we noticed some of the recessed lights had CFL's screwed in, which looked weird. After 2 weeks, half the main-floor ceiling lights started burning out. We learned CFL's should not be used with dimmers. That was the cause of them burning out. Were we responsible for that? We replaced only the lights we needed. We had lamps which we used in the living room. We have replaced the kitchen recessed lights 3x since living here. We have a large vent hood over the cooktop. There are 8 halogen lights. After one month, they all burned out within 3 days. I replaced those and they were expensive and difficult to install. If they burn out before we leave (3 months)I am not replacing those. They obviously were not new when we moved in. We have no intention of replacing all these lights. If they were new when we moved in, that's a different story although I think the landlord is required to provide light for his tenant. I would assume that would be built into the rent. We pay for the electricity. In a house this size and age, there were many things which needed repair but were not. I do not feel responsible for repairing things which broke due to age and use. How can a landlord charge for items which were 'on their last leg?' I have a list of things which broke over the year and half not due to anything we did. They were just old and well worn. The light-bulb issue seems ridiculous to me. Jane...See Moresocial security
Comments (1)I will admit first that I don't understand it at all, but in my opinion it is the start of phasing out soc sec. I hear a lot about preparing for your own retirement and many are confident they can do it. BUT they can't count on even it being there. The good thing about Soc Sec is that it can't be taken away from you if a tragedy strikes you or your family. If you or a family member needs a heart or kidney transplant you will of course dip into the retirement fund to save your loved one's life. Or if you or your wife runs a red light and cripples someone you will take a huge loss and may pay the rest of your life. That is just two examples of how you can lose your retirement. We all need to write our representatives and ask them to fight any changes in soc sec. If they run low on soc sec funds they should stop sending money out of this country until their responsibility to the citizens are taken care of. We are very comfortable, I have prepared for this time in our lives....BUT there is one unexpected problem. Alzheimer's. If my husbands has to be placed in a care home, I will be ok, but only because we have a lot of assets. Anyone with less will lose most of their savings and their income. The saving thing for us is our soc sec and my husband's pension....See MoreSmall Social Security COLA this time
Comments (11)chisue, take another look at how Social Security benefit amounts work, it's not how you say. As an example, just to keep the numbers simple, let's say a person qualifies at age 62 and starts then. They get 75% of the amount they'd get at 66. Real numbers, let's say it's $7500 at year at 62 and it would have been $10000 at 66. By waiting, they're getting a higher amount, yes, but that's not "a return on their investment". What they passed up getting was $7500 per year for 4 years = $30,000. It takes a lot of years with that $2500 increase (which will get cost of living adjustments) to equal the $30000 they passed up. If you factor in interest cost, for someone who isn't working, unless they feel confident to live to a ripe old age, taking it sooner can be better. See what I mean?...See MoreSocial Security
Comments (23)chisue, FICA tax was designed to pay for social security benefits and it's been overcharging for that purpose since it started. Also, remember that self employed people (as I was) pay double the amount, currently 15.2%. It's a heavy tax and more isn't needed. alisande, economically it's a free country. There's a (maybe inadequate) safety net for those who falter or fare less well than others, but isn't each individual alone responsible for their lot in life and to take care of themselves and any others they support? I won't go along with any Robin Hood sentiment, those who obey the law and work hard to do well are entitled to their rewards. Those who don't strive and try anything possible to improve their own financial adequacy or well-being will do poorly and are entitled to those consequences too. There should be far more programs to help people redirect their lives and learn market-demanded job skills but beyond that, hmmm....See Moresushipup1
11 years agolast modified: 9 years agoazzalea
11 years agolast modified: 9 years agoYodaRules
11 years agolast modified: 9 years agoazzalea
11 years agolast modified: 9 years agovnw232
11 years agolast modified: 9 years agosushipup1
11 years agolast modified: 9 years agoemma
11 years agolast modified: 9 years agosherwoodva
11 years agolast modified: 9 years agosushipup1
11 years agolast modified: 9 years agosushipup1
11 years agolast modified: 9 years agosusieq07
11 years agolast modified: 9 years agojoyfulguy
10 years agolast modified: 9 years agoaputernut
10 years agolast modified: 9 years agomccall
10 years agolast modified: 9 years agoemma
10 years agolast modified: 9 years agoMags438
9 years agolast modified: 9 years agoElmer J Fudd
9 years agolast modified: 9 years ago
Related Stories
HOME TECHHigh-Tech Tips for Securing Your House While You're Away
Prevent burglaries when you're traveling by using the latest gadgets, apps and online services
Full StoryLIFERetirement Reinvention: Boomers Plot Their Next Big Move
Choosing a place to settle in for the golden years? You're not alone. Where boomers are going and what it might look like
Full StoryLIFE10 Ways to Keep Your Home Safe While You're Traveling
Set off on your trip with peace of mind, knowing you've taken the right steps toward keeping your home secure
Full StoryMOST POPULARWhen Does a House Become a Home?
Getting settled can take more than arranging all your stuff. Discover how to make a real connection with where you live
Full StoryDECORATING GUIDESCelebrating the Great American Quilt
They speak of family, history and beauty. Is it any wonder quilts transcend design styles?
Full StoryCOMMUNITY15 Ways to Make Your Neighborhood Better
Does your community lack ... well, a sense of community? Here's how to strengthen that neighborly spirit
Full StorySMALL HOMESMicrounits Are Coming to NYC. See the Winning Design
Say goodbye to only arm-and-a-leg Manhattan rents. This plan for small prefab units opens the door to more affordable housing
Full StoryLIFE21 Things Only People Living With Kids Will Understand
Strange smells, crowded beds, ruined furniture — here’s what cohabiting with little monsters really feels like
Full StoryHOME TECHHarness the Cloud: 8 Ways to Automate Your Housekeeping
Make life easier by scheduling regular deliveries, managing appliances, simplifying meal planning and more via the web
Full StoryLIFEHow Your Landscaping Can Keep Burglars Away
Prevent home break-ins with strategic landscaping and good practices instead of menacing — and maybe less effective — measures
Full Story
susieq07