Social Security... - Page 3

Annabellethecat66 · ‎03-12-2010

@Mom2Dogs I know, 70 years old. I always say it's GOD's joke that you save wisely and do everything right but by the time you get to where you can really enjoy it, you have physical or health problems. If you are married one or the other has something.

However, my daughter's mother-in-law and her husband are 71 and 72. They have plenty of money and good health. They've been around the world 3 times and visited every place you can imagine. They left in January on a world cruise and will be back near the end of April. They are beating the odds and I absolutely love it.

Hopefully when I get my knees fixed (and my back) I'll be able to enjoy it some. I just do what the advisers tell me to do with it because right now I'm in too much pain to spend it. Nothing I did, just arthritis and life. Ha!

That's what I'll do. I'll just pay it and reinvest it and then pay the taxes yet again and again it never ends on that poor money, does it?

That's why I give money to my youngest unmarried daughter to do fun things, (i.e. sky dive, helicopter over Grand Canyon, go to Las Vegas for weekends, etc). Why not otherwise the government just taxes it to death, don't they?

My late husband used to say, "If we do this right we won't have any left"....but then he died...boo hoo. He enjoyed making it. It was a game for him.

Annabellethecat66 · ‎03-12-2010

@proudlyfromNJ I found that out when the broker told me! I think it's a stupid rule, but what do I know...Ha! I just don't understand any of it.

It's like you get penalized for saving your money...no wonder people just spend the stuff. The trick is to have enough but give the government as little as possible.

That's what the accountants do. So I was just thinking...(that can be dangerous people...me thinking)...anyway, so the stock broker makes the money and the accountant helps you save it...right?

See, I know people get upset that really, really rich people (like Trump, etc) figure out ways not to pay a lot of taxes, but when you average it out, they really do pay a lot of taxes, it's just relative. They hire smart people to figure out the loop holes. That's what everyone could do if they could afford it. Right?

I'm not smart enough to understand any of it. I just remember once I read something that went on and on at how much that one $ bill was taxed and it was so crazy my eyes rolled back in my head and that's all I remember! Ha!

I always say if I worked at a bank it would be for maybe the first visitor then I'd probably over or under pay them and that would be the end of my job as a bank teller.

QVCkitty1 · ‎05-23-2015

I figure that a household doesn't run without income, and neither does a country, state or local government. I'm willing to pay my share, but it infuriates me when people game the system to avoid their share.

" You are entitled to your opinion. But you are not entitled to your own facts."
Daniel Patrick Moynihan

proudlyfromNJ · ‎05-01-2010

I will have to take mine out at the end of the year. Thinking of what I want to do with it. Oh well, plenty of time to decide!

Mom2Dogs · ‎03-09-2010

@Annabellethecat66...I agree about the taxes, until the powers that be close loop holes they are there for the taking...it's legal.

I hope you get to the point with your health you can go out and spend some of that money.....enjoy it!

151949 · ‎03-09-2010

@Mom2Dogs I was answering Annebell - that is why I quoted her.

151949 · ‎03-09-2010

@Annabellethecat66 The money you place into an IRA when you are working is pre tax - that means you don't pay any income taxes on it until you take it out of the IRA.So the government doesn't want to wait forever for you to start paying those taxes. They decided to make you start taking money out at age 70 so they get their tax $$$.

Annabellethecat66 · ‎03-12-2010

I do understand that (about the IRA) What I'm saying is that $ was taxed before it got there and it will be taxed after it is removed and then when you put it somewhere it will be taxed YET AGAIN, by paying on the interest the money you choose to save will sit.

It's never ending. So I go back to my original conclusion, maybe it just makes sense to spend what you want and don't worry about it because there are a lot of people who don't. Right? Ha!