Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Hey bros.
Celebrating my first "wind fall" Social Security check that just landed in my bank account.
Went down to the local Social Security office on Monday to ask what was taking so long with my application for benefits.
Turns out it had nothing to do with all this Muskie Doge nonsense.
Social Security agent.... You put down March 1st as your start benefits date but you reached full retirement age 6 months ago.
Me...I know, I'm still working full time. I like my job. And they like me. Its why I'm still there after 30 years.
Social Security agent ... That's fine, but you can keep working and collect full benefit now with no penalty.
So would yo like to change your start benefits date to October 2024 and receive 6 months of retro benefit for first check?
Me....Well.....ok, twist my arm.
Added bonus...
My company just announced branch closure. Laying off everyone over next 2 months. (They offered me a position at new location. "Do you want to move?" me..."ummm... no thanx". lol)
I get 6 months full pay/benefits severance plus a 15% retainer bonus for staying on until they close this summer.. And paying me for all unused vacation time.
Glad I didn't retire in October. Perfect timing...lol
GO BITCOIN
Celebrating my first "wind fall" Social Security check that just landed in my bank account.
Went down to the local Social Security office on Monday to ask what was taking so long with my application for benefits.
Turns out it had nothing to do with all this Muskie Doge nonsense.
Social Security agent.... You put down March 1st as your start benefits date but you reached full retirement age 6 months ago.
Me...I know, I'm still working full time. I like my job. And they like me. Its why I'm still there after 30 years.
Social Security agent ... That's fine, but you can keep working and collect full benefit now with no penalty.
So would yo like to change your start benefits date to October 2024 and receive 6 months of retro benefit for first check?
Me....Well.....ok, twist my arm.
Added bonus...
My company just announced branch closure. Laying off everyone over next 2 months. (They offered me a position at new location. "Do you want to move?" me..."ummm... no thanx". lol)
I get 6 months full pay/benefits severance plus a 15% retainer bonus for staying on until they close this summer.. And paying me for all unused vacation time.
Glad I didn't retire in October. Perfect timing...lol
GO BITCOIN
Congrats on retirement!.
That said, sorry pal, they pulled a "fast" one on you. By going back 6 mo, you soc sec payment permanently decreases 2/3X6=4%.
Yes, you'll get a lump sum of 6 mo, but, since you already "got" those 6mo credits, why throw them away (in a long run)?
With numbers: say, your Ssec at FRA is $3000, then at +6 mo it would have been 3000X1.04=3120/mo.
You would have gottten 120x12=$1440 extra per year for starters and then, with each COLA, you would be increasing the "extra".
You may say that...so what, I've got that sweet $3000X6=$18000. It is so, but it depends on your "projected" longevity.
Typically, the breakeven point is at about 10-12 years, give or take.
You "won" if you live roughly less than about 12 years, "lost" if more than about 12 years.
The exact numbers are not achieved by simply dividing 18000 by 14400 (albeit i used those for simplicity) because there would be a change in COLAs for "you" who took the lump some vs theoretical "you" who did not and the difference will accumulate.
That said, I intend to take at FRA and also keep working. More cash flow, more btc buying potential.
EDIT: adjusted some numbers to more accurate values.
No fast one.
I saw the numbers both ways. I am fully aware my monthly is lower than if I'd have taken March 1st.
They totally left it up to me. I have researched the numbers.
There is argument to be made to start collecting as as soon as one is eligible at 62.
Like you said, who knows how long you got. I might get hit by a bus tomorrow.
I waited to 67 FRA. I'm good with that.
I decided to go for lump sum with a slightly smaller monthly number.
My company laying me off in a couple of months time was also a factor.
Hell, the way things are looking now, there ain't gonna be anything left in the pot in 10 years.
Or some idiot not to be mentioned is just gonna fuck everything up.
I'm totally good with my decision.