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Forum
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RE: question for the more mature members?
We didn't have TV then.
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Mac1
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10/11/08 02:46pm |
Around the Campfire
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RE: Graphic designs peeling on Cougar
I just finished taking the Cat off the nose of my 02 Cougar.
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Mac1
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10/03/08 07:32pm |
Fifth-Wheels
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RE: Social Security.....I hadnt heard of this before
If you die with money left it should go to the destination of your choice. .
By the same rule then, if you use up what you put in before you die, then the Gov. stops paying you. I have been drawing SS for 9 years and I withdrew what I put in after about 5 years.
I like the system just as it is and hope it keeps paying at least till me and the wife are gone.
I bet you didn't use the money you put in in five years. Are you factoring your employers half in there? What about the Interest you would have got on the money? According to my SS statement the first year they have for me paying into the system was my first job in 1978. That's 30 years ago for me, and I'm still 15 years away from being able to collect. So I'll have paid 15.2% of my salary in (my half and my employers half) for 45 years before I collect. You really think I'll get all that back in only five years?
msmith1199
I lied.
I made my first SS payment in 1955 and my last in 1994 for a total of $47091. I began drawing SS at a rate of $1030 per month or $12360 per year. In 4 years I have received $49440 which is $2349 more than I contributed. I didn't count my company's contribution cause I never saw it and couldn't get it anyway.
After I withdrew the first $47091, I started withdrawing the interest I would have made on the original contributions. If I live long enough and the Gov. don't fold, I will get back it compounded.
Your results may differ if you are younger than me, but then you've got your youth.
You missed part of my point Mac. If you paid in $47,091 then your employer paid in the same amount in your name and that is your money too as you had to earn it. So you paid in $94,182. Obviously it would be difficult to figure the interest you should have received compounded over all those years, but you could have potentially had several hundreds of thousands of dollars. Lets just assume you got a okay rate of return and at the time of your retirement your money was worth $300,000. That's a pretty conservative estimate. If you only earned 4% on that $300k then you could make $1000 per month just on the Interest alone without touching the principal. You were only drawing $1030 when you started.
So my point being, you haven't drawn all the money you paid, they still owe you quite a bit more.
The money the company contributes to SS does not appear on your W2 form. You don't report it as income. The only way you have access to it is to live long enough to withdraw it. I believe you are confusing what you wish the system did with what it actually does.
"In 4 years I have received $49440 which is $2349 more than I contributed" I actually received a little more since SS grants a small raise every now and then.
I will agree that the system is broke and the young folks paying in now won't have it as good as us old folks but I feel there are more oppertunities to save now than when I worked, like increased limits on IRA's, 401k's , etc. For over half of my working career there were no IRA's or 401k vehicles.
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Mac1
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09/25/08 09:16am |
Around the Campfire
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RE: Social Security.....I hadnt heard of this before
If you die with money left it should go to the destination of your choice. .
By the same rule then, if you use up what you put in before you die, then the Gov. stops paying you. I have been drawing SS for 9 years and I withdrew what I put in after about 5 years.
I like the system just as it is and hope it keeps paying at least till me and the wife are gone.
I bet you didn't use the money you put in in five years. Are you factoring your employers half in there? What about the Interest you would have got on the money? According to my SS statement the first year they have for me paying into the system was my first job in 1978. That's 30 years ago for me, and I'm still 15 years away from being able to collect. So I'll have paid 15.2% of my salary in (my half and my employers half) for 45 years before I collect. You really think I'll get all that back in only five years?
msmith1199
I lied.
I made my first SS payment in 1955 and my last in 1994 for a total of $47091. I began drawing SS at a rate of $1030 per month or $12360 per year. In 4 years I have received $49440 which is $2349 more than I contributed. I didn't count my company's contribution cause I never saw it and couldn't get it anyway.
After I withdrew the first $47091, I started withdrawing the interest I would have made on the original contributions. If I live long enough and the Gov. don't fold, I will get back it compounded.
Your results may differ if you are younger than me, but then you've got your youth.
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Mac1
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09/24/08 03:34pm |
Around the Campfire
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RE: Social Security.....I hadnt heard of this before
If you die with money left it should go to the destination of your choice. .
By the same rule then, if you use up what you put in before you die, then the Gov. stops paying you. I have been drawing SS for 9 years and I withdrew what I put in after about 5 years.
I like the system just as it is and hope it keeps paying at least till me and the wife are gone.
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Mac1
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09/23/08 06:40pm |
Around the Campfire
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RE: Black window spider?
There is a new imported species of spider on the Gulf coast called the GREY WIDOW. Looks just like the Black Widow, except its grey and has an orange hourglass on its belly. Venom is suppposed to be similar to Black Widow, but the spider is not aggressive. This one is from Africa. If you don't have them in your part of the country yet, just wait. They are very prolific.
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Mac1
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09/15/08 10:57am |
Around the Campfire
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RE: Looking for 24' - 28' Light Weight 5th Wheel
ARTIC FOX
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Mac1
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09/05/08 07:29am |
Fifth-Wheels
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RE: tire temps
I am at around 10k but I have not weighted it.
I think if you get it weighed, you will have your answer.
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Mac1
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09/05/08 07:26am |
Fifth-Wheels
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RE: Gustav ....and New Orleans ..?
Well, so far, New Orleans has fared very well, no levee breaches! New Orleans looks as if it will escape with only surface scratches! Good!
Lets move NO up to the Mississippi river valley. It never floods there.
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Mac1
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09/04/08 07:30am |
Around the Campfire
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RE: Gustav, cat. 3 in Gulf or higher?
When all you have for miles and miles is slabs and steps to nowhere, then you know you were on the wrong side.
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Mac1
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08/28/08 05:27pm |
Around the Campfire
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RE: Gustav, cat. 3 in Gulf or higher?
Little known fact. N.O. was on the good side of Katrina and Mississippi was on the bad side. N.O. flooded due to a levee break. The whole coast of Mississippi suffered severely from the storm surge and winds. N.O suffered from a broken levee.
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Mac1
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08/28/08 11:41am |
Around the Campfire
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RE: IRS issues
I have always filed and paid what I owe. I think he should file and pay up. If he owes $200,000, he has been doing alright at someone else's expense.
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Mac1
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08/24/08 09:00am |
Around the Campfire
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RE: Saw a deer get hit by car today
Sice man wiped out all the natural predators of deer in most areas, the automobile is now the natural predator of the deer.
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Mac1
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08/21/08 10:59am |
Around the Campfire
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RE: Brake adjustment update!!!
Hey all!!
My concern is I did a brake adjustment and after tightening it up some more maybe put too much drag on them. When I got to the dealer you could smell the brakes some( 30 min drive at 65mph). .
lv2rom told you a very good way to adjust your brakes and if you followed his instructions they were not too tight. I bet you didn't do it like he said. This was in your first thread concerning your brake adjustment.
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Mac1
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08/13/08 01:20pm |
Fifth-Wheels
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RE: Performance Evaluations - love them or hate them......
Thats why you make the big bucks.
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Mac1
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08/06/08 01:27pm |
Around the Campfire
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RE: 5th wheel hitch thoughts
I've been RV'ing for 14 years and about 100.000 miles, as far South as Keywest, as far north as Fairbanks and all of the western states with an old RBW NON tilting hitch. Never had a problem yet. No broken pinbox, always able to unhook or hookup. I guess I must be doing something wrong.
TexasDiesel , use your hitch.
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Mac1
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08/05/08 06:48pm |
Fifth-Wheels
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RE: unhooking experience
If it ain't chocked it can roll.
If the front jacks are up on high blocks and it ain't chocked sooner or later you are going to get a crease in your pickup bed rails and you can't blame it on your hitch.
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Mac1
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07/26/08 09:26am |
Fifth-Wheels
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RE: Blowing In-line fuses
If the 30 amp inline fuse is blowing, then it ain't no bad breaker. Something is drawing too much current and its almost certain its your jack.
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Mac1
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07/26/08 09:19am |
Fifth-Wheels
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RE: No Credit/Debit Cards=No Business
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Mac1
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07/21/08 05:18pm |
Around the Campfire
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RE: Skunk experts?
I guess if they don't bark all night, then they are preferable to what we put up with.
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Mac1
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07/10/08 01:07pm |
Around the Campfire
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