Retirement Planning - Lessons Learned

[Larry Caldwell]

Holy Cow!

That is have a kid at 16 and that kid has a kid at 16!

And that was the average?

MoKelly

Gotta love those vague memories, even if they make no sense.

 

[Larry Caldwell]

61% of Americans paid no federal income taxes in 2020, Tax Policy Center says

The Tax Policy Center said 107 million households, or 61% of taxpayers, owed no income taxes in 2020. That's up from 76 million, or 44% of taxpayers, in 2019.

www.cnbc.com

61% of this country does not pay federal income tax.

Can't squeeze blood out of a turnip.

 

[MoKelly]

Gotta love those vague memories, even if they make no sense.

Lots of what is posted online makes no sense.

MoKelly

 

[Macinnis]

Can't squeeze blood out of a turnip.

Why buy a cow when you can get the milk for free?

 

[Steppenwolfe]

61% of Americans paid no federal income taxes in 2020, Tax Policy Center says

The Tax Policy Center said 107 million households, or 61% of taxpayers, owed no income taxes in 2020. That's up from 76 million, or 44% of taxpayers, in 2019.

www.cnbc.com

61% of this country does not pay federal income tax.

HA!!! I'm not biting on that one again...

 

[Steppenwolfe]

Can't squeeze blood out of a turnip.

They aren't turnips... they are leeches.

 

[NorTracNY]

Can't squeeze blood out of a turnip.

Not sure of your point. You get salgam from squeezing a turnip. Are you suggesting that it's healthy for people to not work?

 

[Fuddy1952]

You are correct. She gets Medicaid not Medicare. The SS all I know is she gets some sort of income, more than enough to live on since she has no rent, utilities, etc.
Money left over paid for their vacation.
I'll be talking to my friend this afternoon and find out what that money is called.
I was writing quickly, just trying to make a point. The gist is she gets free things, and a money surplus.

I just got off the phone with Ca. friend who's MIL gets all the free stuff. He said it took lots of time, lots of paperwork, etc. but it is SS she receives. She had to get citizenship but being poor and at her age everything is free.
It makes no sense to me working and paying into SS all those years, then someone from another country never working here getting all those perks.

 

[Sigarms]

I learned a valuable lesson from both of my parents, which didn't make sense when I was younger, but makes more sense now as I'm older.

The lesson?

Don't worry about what other people do, worry about what YOU do.

Anyone with half a brain should not rely on social security (the government) to have a great life after you retire, that's only common sense, even back in the 80's...

 

[Steppenwolfe]

I just got off the phone with Ca. friend who's MIL gets all the free stuff. He said it took lots of time, lots of paperwork, etc. but it is SS she receives. She had to get citizenship but being poor and at her age everything is free.
It makes no sense to me working and paying into SS all those years, then someone from another country never working here getting all those perks.

I just pulled my info from SS.GOV; started paying taxes when I was 15, been paying for the last 48 years. I will still be paying when I turn 66.8 months old for "full" retirement payments. If I live for 20 years past that, maybe get new gubment knee replacements, I should come out even...