Wayne Boatwright wrote:
> On Wed 30 Jul 2008 06:19:37p, George Shirley told us...
>
>> Wayne Boatwright wrote:
>>> On Wed 30 Jul 2008 12:36:42p, blake murphy told us...
>>>
>>>> On Wed, 30 Jul 2008 00:57:23 GMT, Wayne Boatwright
>>>> > wrote:
>>>>
>>>>> On Fri 25 Jul 2008 02:12:01p, blake murphy told us...
>>>>>
>>>>>> On Fri, 25 Jul 2008 02:36:26 GMT, Wayne Boatwright
>>>>>> > wrote:
>>>>>>> It's only an occasional place for me to go, mainly due to the
>>>>>>> prices. I really can't afford frequent meals at that price, though
>>>>>>> wish I could. I really do like their food. As restaurant prices
>>>>>>> go, they aren't actually that expensive when compared to others,
>>>>>>> but it's still over my budget for more than an occasional stop.
>>>>>>>
>>>>>>> Having said that, I'm still very partial to old-fashioned
>>>>>>> traditional Cantonese chinese food, and it's also far more
>>>>>>> affordable on my budget.
>>>>>>>
>>>>>>> In another life it was easy for me to afford almost any cost of
>>>>>>> meal frequently. Those days are long gone, and I actually don't
>>>>>>> mind too much.
>>>>>> what? i thought you didn't become poor until you retired.
>>>>>>
>>>>>> your social security pal, blake
>>>>>>
>>>>>> ** Posted from http://www.teranews.com **
>>>>>>
>>>>> I'm almost at the point of considering myself one of the "working
>>>>> poor".
>>>> best to get used to it now.
>>>>
>>>> your pal,
>>>> blake
>>>>
>>> Yes, I know. I will be 66 in 2-1/2 years, which is when I can begin
>>> collecting Social Security. I plan to go on working, health
>>> permitting, until I'm 70, primarily in order to put some money aside
>>> and finish off a few things around the house. By the time I'm 66, both
>>> of cars will be paid for, as well as any remaining debt we have except
>>> for our house payment. All of this will help a lot. The company I
>>> work for doesn't have a retirement plan, so no money coming from there.
>>> While they do offer a 403K plan, I can't afford to contribute to itat
>>> present, although I will be able to by the time I'm 66.
>>>
>> You might want to run the numbers on drawing now or waiting until 66
>> Wayne. I did that some time back and began drawing my SS at age 62. My
>> accountant says it will generally come out to the point where you get
>> more money in the long run rather than wait to build it a little more.
>> YMMV
>>
>> I continued to work for 5 more years and drew SS at the same time. the
>> big rub with us is DW intends to teach two more years, that will make
>> her 70 when she retires. At that point in time the gubmint will take
>> away a good chunk of the portion of my SS she is drawing now and she
>> will have to make do with her minuscule teacher retirement when I am
>> gone. My company pension is just about enough to almost pay the light
>> bill. So much for working for a pension. Should have gone to work for
>> the feds like three of my relatives did.
>>
>
> I thought about that, George, but if I retire earlier than 66 I will be
> severely limited as to the amount I'm allowed to earn working at my job.
> If I wait until I'm 66, I'll be able to earn as much as I want to in
> addition to collecting SS. Maybe I don't have all the facts, but that's
> how it appears at this point.
That's true, once you're past 67 yo they don't dock your SS because of
your work pay.
>
> The not-for-profit company I work for doesn't pay the highest wages, but
> it's pretty much a given that I'll have a job there for as long as I wish
> to work. Although I've considered looking at jobs back in the corporate
> world, I'm skeptical of their longevity.
I got fed up with the corporate world in 1991 when we returned from the
Middle East for the second time. A job that had been very promising
turned into the job from hell and I just told my boss to send us home.
I set up as a consultant doing the same work I had done for large
corporations and we made a living from it until 2007 when I said no more
and retired. I didn't make the money I had made as a Senior VP but was a
lot happier, worked from a home office, finally got a chance to do some
writing and actually sold over 300 magazine articles in my chosen field
plus got to work with clients who actually needed me and were willing to
pay well. Not to mention becoming the house husband and doing the
cooking and shopping and cleaning while DW went off to the salt mines
each day. You have to do what it takes to make you and yours happy.
>
> David will have his SS and a very small pension. His company no longer
> allows for a lump sum pension payout. He won't be 66 until 2014.
>
A number of companies have done the same. I think they're hoping you
will die before you get it all that way. My problem is I never stayed
with one company long enough to get vested in a pension plan. Way too
much fun traveling the world and meeting new people and seeing new
places. Wouldn't trade that 25 years for all the money in the world.