[Michael G.]

Originally Posted by retiredguy123

That would be the IRMAA law.

income-related monthly adjustment amount

The income-related monthly adjustment amount (IRMAA) sliding scale is a set of statutory percentage-based tables used to adjust Medicare Part B and Part D prescription drug coverage premiums. The higher the beneficiary's range of modified adjusted gross income (MAGI), the higher the IRMAA.Dec 6, 2021

[Michael G.]

Originally Posted by Stu from NYC

The entire system? Seriously?

Investing with a bit of knowledge and not being greedy is how one gets ahead investing in the long run.

Yeah, now go educate the young people about that.

[rustyp]

Originally Posted by Michael G.

income-related monthly adjustment amount

The income-related monthly adjustment amount (IRMAA) sliding scale is a set of statutory percentage-based tables used to adjust Medicare Part B and Part D prescription drug coverage premiums. The higher the beneficiary's range of modified adjusted gross income (MAGI), the higher the IRMAA.Dec 6, 2021

Isn't google wonderful.

And for the rest of the story:

SSA - POMS: HI 01101.020 - IRMAA Sliding Scale Tables - 12/06/2021.

[Stu from NYC]

Originally Posted by Michael G.

Yeah, now go educate the young people about that.

Taught our kids and soon will be the grandkids turn. 11 year old already has small business washing cars.

[Topspinmo]

Originally Posted by Michael G.

Yep, If this happen, S/S we will be seeing the end of S/S in our lifetime.

Only because the stole money over the years and pass it out like candy to people under 62.

[Nucky]

There are many people (not me) who worked for cash their entire life. Maybe part of their life was legit and on the books. Their SS check is not too much, hence their raise is BS and when the extra money for Medicare comes off the top, BINGO. Upsidedown.

I'll bet you it was a thrill getting over and not paying any taxes for most of your life. Sooner or later the score is going to be evened up!

If I had it to do all over again I would say forget being a Manager. I would like to be the one taking orders and without a doubt, I would be a Union member. My kids are cleaning up as Union Members. You wouldn't believe it. $$$$$$$$$$$

[Stu from NYC]

Originally Posted by Nucky

There are many people (not me) who worked for cash their entire life. Maybe part of their life was legit and on the books. Their SS check is not too much, hence their raise is BS and when the extra money for Medicare comes off the top, BINGO. Upsidedown.

I'll bet you it was a thrill getting over and not paying any taxes for most of your life. Sooner or later the score is going to be evened up!

If I had it to do all over again I would say forget being a Manager. I would like to be the one taking orders and without a doubt, I would be a Union member. My kids are cleaning up as Union Members. You wouldn't believe it. $$$$$$$$$$$

Union jobs can pay very well but way to many companies have gone under giving up control to their unions. This includes the company I worked for in my youth.

[Rodneysblue]

Originally Posted by retiredguy123

I don't know what that means, but when you hire 10 people to do what 2 people can do, it's difficult to stay busy. I was criticized many times for being too fast and too efficient and making other employees look bad. Not exaggerating.

Been there , heard the same.

[Nucky]

Originally Posted by Stu from NYC

Union jobs can pay very well but way to many companies have gone under giving up control to their unions. This includes the company I worked for in my youth.

I get it. It does happen.

The local that represented the drivers at my company had some kind of accounting malfunction and when the second guy went to retire after approximately 45 years with the company the funds were no where to be found.

I understand that when foul play is the reason that there is a way the government helps out those who got hammered. I got that spaination from one of the drivers so I don’t know that it is a fact.

I’d take my chances still. Union. Can’t believe I have done a complete turn around on my view.

[Michael G.]

My brother was a union man, (I never was in one), but I remember him saying:

"If all companies were honest, we wouldn't need unions."

I wouldn't know that for sure.

[Timothyimitchell]

Originally Posted by Stu from NYC

The entire system? Seriously?

Investing with a bit of knowledge and not being greedy is how one gets ahead investing in the long run.

Dead serious. And it's about ready to crash and expose itself as just that

[Stu from NYC]

Originally Posted by Timothyimitchell

Dead serious. And it's about ready to crash and expose itself as just that

Time will tell

[biker1]

Doubtful. First of all, 62 is not the retirement age. It is, however, the earliest you can take benefits at a reduction, a fairly substantial reduction. The full retirement age is between 65 and 67 depending on your age. You are old enough that it is doubtful that your full retirement age, or the age you can start taking reduced benefits, will change. I suspect the full retirement age will be gradually raised for younger people, similar to what was implemented in the last reform in 1983. Other possible reforms could be a change in the COLA calculation, an increase in the SS tax, and an elimination of the earnings ceiling for paying SS tax. Another possibility, which I would deem very unlikely, is means testing.

Originally Posted by thevillages2013

Yep, I have been predicting for the last 20 years that by the time I am eligible for retirement the date will be moved. I’m a month from 59 and I still say there is no way 62 will be the retirement age when it’s my turn

[Stu from NYC]

Originally Posted by biker1

Doubtful. First of all, 62 is not the retirement age. It is, however, the earliest you can take benefits at a reduction, a fairly substantial reduction. The full retirement age is between 65 and 67 depending on your age. You are old enough that it is doubtful that your full retirement age, or the age you can start taking reduced benefits, will change. I suspect the full retirement age will be gradually raised for younger people, similar to what was implemented in the last reform in 1983. Other possible reforms could be a change in the COLA calculation, an increase in the SS tax, and an elimination of the earnings ceiling for paying SS tax. Another possibility, which I would deem very unlikely, is means testing.

Another reform which I would favor is raising the age for collecting. We are all living longer and now less people are available to pay into the system. Not to mention there is a shortage of workers.

[Michael G.]

Originally Posted by Stu from NYC

Another reform which I would favor is raising the age for collecting. We are all living longer and now less people are available to pay into the system. Not to mention there is a shortage of workers.

Makes sense to me, now go to Washington and tell them for the both of us.