examples of the maximums in 2014:
retirement age maximum
I must not make much... as my numbers are way off of the MAX Amounts.
At full retirement age (66): $1,874 a month
At age 70: $2,612 a month
At your current age (65): $1,775 a month
Your estimates are based on the assumption that you will earn $67,076 a year from now until retirement.
I guess you really have to make a lot of money to get to the max. I started working and paying in at age 15.... 50 years ago and over the last 20 have made $60K+ annually.
Only the 35 years in which you earned the most is used. Currently, $117,000 is maximum amount of earnings subject to social security tax. (There is no limit on the Medicare tax.)
Maximum monthly benefit at age 70 is $3424.
But, there is no limit as to how many monthly payments you receive. There is nothing that says "once you have received $100,000, you are no longer eligible to receive benefits" or "once you have received 150 checks, you are no longer eligible to receive benefits" or "once you reach 95 years old, you are no longer eligible to receive benefits".
Folks were questioning the "max benefits" because they thought the poster was suggesting the latter not the former.
I was responding to the post immediately before mine in which the question is about maximum monthly benefits.
You may be right that the maximum monthly benefit at age 70 is $3424; however, I just checked this Social Security webpage, which states:
Last Modified: 8/25/2014
What is the maximum Social Security retirement benefit payable?
The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2014, your maximum benefit would be $2,642. However, if you retire at age 62 in 2014, your maximum benefit would be $1,992. If you retire at age 70 in 2014, your maximum benefit would be $3,425.
Social Security does have maximum benefits, based on your earning and your age when you retire. (The maximum amount increases, whenever there is a cost of living increase.) Here are examples of the maximums in 2014:
retirement age maximum
* The 66 age maximum is for whatever age is your full-retirement age, for example 66.5 years old.
We left our dogs with a house sitter, while we were on our first ever RV trip, those many years ago. Here is a picture of our first RV.
We missed our dogs and have not traveled without them, since.
On our trip to Alaska, we traveled with 4 dogs, 2 golden retrievers, one of which was 3 months old, when we started, and 2 border collies. Out traveling companions traveled with 2 golden retrievers. The dogs contributed much to our enjoyment of the trip, and did not cause us to miss anything we wanted to do.
Most often, we did things in the morning, were back at the RV for lunch. But many times, we needed to be gone long periods of time.
Examples: 1) We spent a 4 days in Denali (nights back in the RV). We didn't camp inside the park, but rather at Cantwell RV Park. The campground provides a pet sitting service. 2) We went of a fjords tour out of Seward. We camped at Bear Creek RV Park (Seward). The son of the campground owners walked our dogs.
All of that said, your situation is different, I infer that you are not accustomed to having and traveling with a dog. If that is correct, I would advise waiting until after the trip. You and the dog need time to become a family. The puppy on our trip was with us at home for a month before we started our trip; she had already become use to us and the other dogs.
I think people need to quit thinking about all this break even magic. If you can afford to wait then wait and get more. If you cant afford to wait then start taking it when you can.
Should the posters respond to the original poster's questions?
Traveling from Tennessee into North Carolina, you will climb through the Pigeon River Gorge. This is a "gentle" (3 to 4% grade) for about 20 miles.
Leaving Asheville toward South Carolina, you will have two choices, I-26 or I-40 to I-77. I-26 has a 3-mile section of 6% grade (Saluda). I-40 has a 5.5-mile section of 6% grade (Black Mountain)
We travel in a 38' Journey, pulling a CR-V and have no trouble with either grade.
... To the OP, I have a question. Are you planning to continue to work and draw SS at 62? If so and you make over abuut $10.5K a year then you will be loosing money as you have to pay back $1 for every $2 over the $10K mark....
I believe the payback is $1 for every $2 earned over $40K annually.
I could be wrong, so if anyone knows for sure, please correct me. Thanks.
The limit amount changes from time to time. For 2014, the limit for early retirees is $15,480. Above that amount, you lose $1 for every $2 earned.
If you take social security at 62 and invest it in good growth mutual funds for 5 years you will not only have a large pot of money to draw on, but the growth on your investments will offset the reduction factor and increase the break even point.
That's true, if you assume that a person who waits until full-retirement age to start social security benefits will spend those benefits. However, if that person invests, in the same fashion as your early retiree, you are again looking at a break-even point, down the road. All things equal in the investment environment, the break-even point will not change.
There are lots of variables involved in making the right decision for one's circumstances. Talking it over with a financial advisor - or a social security representative, if you don't don't have a financial advisor - is the best advice.
That said, there is an "easy" formula for calculating the break-even point, as you have posed the situation.
Let m be the number of months between early retirement and full retirement age.
Let r be percent of reduction for early retirement (it is not the same for everyone)
Let n be the number of months after full retirement age until break-even point
Then n = (1 - r)m / r
Note 1: The amount of the monthly benefit is irrelevant.
For example, if your full retirement age is 66.5 years and you retire at 62 then r = 27.5% = .275 and m = 54
That produces, n = (1 - .275)54/.275 = 142.36 months, which is about 11 years 10 months.. Your break even age would be 66 years 6 months + 11 years 10 months or 78 years 4 months.
Note 2: Unless you were born on the first of the month, the earliest you could draw social security is 62 years 1 month. That would change m to 53, r to 27.08%, and n would be 142.72 months.
In the same general area, some people prefer Camp Hatteras, some prefer Camp Hatteras KOA, and some prefer Ocean Waves.
We go to the KOA because their facilities are much better for dogs. In particular, they have a large field on the sound side, where the dogs can be off leash and swim in the sound.
Does your TomTom have an RV setting? If not, you should always check against another source.
Since reading your post, I asked my Dezl 560, which does have an RV setting, to give me a route from 222 Water St., Binghampton, NY to the Saugerties/Woodstock KOA. It's route is NY 17 to NY 52 to US 209 to I-87 to NY 212
That's 8 miles further than if I forced it to take I-88 to NY 23, etc. For this route, it chose to stay with NY 23 A to NY 32 A to NY 32 to NY 212, and did not cut straight down to the KOA, making the route a couple of miles longer.
BTW, it shows the travel time for the NY 17 route to be 2 hours 36 minutes and for the I-88 route to be 2 hours 37 minutes.
It is my experience that the Dezl 569 does give better RV routing than does any GPS I've use that didn't have RV routing.
You have three Apple stores within 15 miles of Laguna Beach. You could drop by one of them and compare the retina display and non-retina display, side-by-side.
The iPad Mini with retina display has a much faster processor, A7 vs A5.
You can get pdf versions of Garmin manuals form their support pages. I like the pdf versions, because you can use your pdf reader to search.
Garmin does not make it easy to find the manuals. For one thing, you need to know what series the device is in. The 2595 is in the 2505 series.
I don't know if this link will work; I copied it from Gramin's support.
2505 series owner's manual
On edit: Changed the link so that it opens in a separate tab.
We lost a 14-year golden retriever, while traveling in New Hampshire. She had never been sick a day in her life. But, when she would only eat because we wanted her to, and then throw it back up, we rushed her to an emergency clinic. Alas, she had a rapidly developing pancreatic tumor and we had to let her go. We had her cremated and came back a couple of weeks later to get her ashes. Katie-Dit-It
We are traveling this summer with a 12-year old border collie that was diagnosed with an inoperable tumor involving a lung and her heart. Fire prognosis, when we left home, in July, was 1 to 3 months. She's still doing well, has competed in two agility trials and will be entered in a third next weekend. Trusted friends watch her when she runs to give in case we are too blind to see she is struggling.
The point is, we live our lives with our dogs. If the time comes we'll make the decision. Definitely, we will have any dog we loose, while on the road, cremated, and have its ashes returned home.
See IRS Publication 936
For you to take a home mortgage interest deduction, your debt must be secured by a quali- fied home. This means your main home or your second home. A home includes a house, con- dominium, cooperative, mobile home, house trailer, boat, or similar property that has sleep- ing, cooking, and toilet facilities.
Looks like a very poor attempt at Photoshop, but I could be wrong. Anyway, it is a very nice sentiment.
Thanks for sharing your inability to analyze photos. The picture wasn't "photoshopped." I chose that picture because it had the best rainbow colors and I thought it interesting that the closer clouds actually blocked the right side.
Here is another picture, with a complete rainbow, although weaker colors.
You can click on the picture to see a larger version.
Incidentally, the two pictures were taken 11 minutes apart. The weaker rainbow totally disappeared and then reappeared with brighter colors and a much different clouds.
Have a good day,