Re: Just got my Social Security info for 2018

topcat10 · ‎06-10-2015

Does anyone have any idea why @Annabellethecat's SS would be affected by investments? I don't see any connection between them. Isn't SS based only on earnings on which SS was paid by an employer...even if that employer is "self"?

The only thing that affects your SS retirement benefits is if you rec'd a pension from your employer (which reduces SS) unless you have 30 years of coverage then your SS benefits will not be affected.

BirkiLady · ‎02-22-2015

My pensions from employment and my own investments have NO impact on Social Security payments. Social Security monies have been taken out of my earnings for the years worked. They are earned income credits payable to me upon my retirement or disability. It is not a gift. I've worked for every cent of those monthly payments!

Edited.

Money screams; wealth whispers.

Carmie · ‎10-25-2010

@topcat10 wrote:

Does anyone have any idea why @Annabellethecat66's SS would be affected by investments? I don't see any connection between them. Isn't SS based only on earnings on which SS was paid by an employer...even if that employer is "self"?
The only thing that affects your SS retirement benefits is if you rec'd a pension from your employer (which reduces SS) unless you have 30 years of coverage then your SS benefits will not be affected.

Annabellethecat’s SS benefits were reduced because she was a former government employee who did not pay into the SS system. It usually happens when a person receives a government pension and SS at the same time.

Look up WEP ( Windfall Elimination Provision) on the Medicare website.

proudlyfromNJ · ‎05-01-2010

@BirkiLady wrote:
My investments have NO impact on Social Security payments.

Same with me. My investments do not affect SS. And if I didn't need my SS, I would not want to give it back to the government. I would donate to my local animal shelter, they sure could use it. Or donate to any good cause. Oh well, another mystery on the Q board. Not meaning to speak for Annabelle, but I thought she mentioned awhile ago she hasn't worked in 41 years. Maybe she will weigh in.

tansy · ‎01-02-2011

@Carmie wrote:
@topcat10 wrote:

Does anyone have any idea why @Annabellethecat66's SS would be affected by investments? I don't see any connection between them. Isn't SS based only on earnings on which SS was paid by an employer...even if that employer is "self"?
The only thing that affects your SS retirement benefits is if you rec'd a pension from your employer (which reduces SS) unless you have 30 years of coverage then your SS benefits will not be affected.
Annabellethecat’s SS benefits were reduced because she was a former government employee who did not pay into the SS system. It usually happens when a person receives a government pension and SS at the same time.

Look up WEP ( Windfall Elimination Provision) on the Medicare website.

But she’s collecting her husband’s SS benefit, right? It’s hard to follow. @Carmie

CAcableGirl2 · ‎06-03-2010

Since I'm 5-6 short years from being eligible to start receiving SS, I have a question re: the Medicare that you receive, and addn'l coverage. So, is Medicare free for those 65 and older and then the Part B, etc. an additional fee that is pulled out of your SS check?

If so, for any of you living in Southern California, do you have any estimates on what those extra "parts" cost? Is it dependant on your SS income, your total income, last years tax amount or how do you determine what your health insurance is really going to cost.

I am trying to save as much as I can to have enough for when I retire, but the medical costs are something that I have zero idea about.

In case it matters, I will have worked about 45 years and always for private companies, so no government jobs so I already know what my SS payments should be based on retiring at 62. There is no way I could keep working full-time until I reach what is considered my "official" retirement age of 67....yikes!

......You look like I need a drink.....

Catty2 · ‎09-06-2014

I got my information yesterday. I'll be making $11 more a month with the increase. It's ridiculous that the Medicare premium went up almost 25%.

Carmie · ‎10-25-2010

@tansy wrote:

@Carmie wrote:
@topcat10 wrote:

Does anyone have any idea why @Annabellethecat66's SS would be affected by investments? I don't see any connection between them. Isn't SS based only on earnings on which SS was paid by an employer...even if that employer is "self"?
The only thing that affects your SS retirement benefits is if you rec'd a pension from your employer (which reduces SS) unless you have 30 years of coverage then your SS benefits will not be affected.
Annabellethecat’s SS benefits were reduced because she was a former government employee who did not pay into the SS system. It usually happens when a person receives a government pension and SS at the same time.

Look up WEP ( Windfall Elimination Provision) on the Medicare website.
But she’s collecting her husband’s SS benefit, right? It’s hard to follow. @Carmie

You never really collect all of your benefits under your spouse’s SS if you worked and have enough of quarters on your own. You collect your SS benefit first, then if the benefits are higher under your spouse’s, you get up to the higher amount under his benefits.

For example, if your SS benefit is $1000 and your spouse’s is $2000, when he passes, you can collect $1000 on yours and up to half under his. So you would get $1000 more under his benefits. $1000 would come under your benefits and $1000 under his for a total of $2000 a month.

Some of the rules have changed around May of 2016. So if you collected benefits before this time period, you didn’t have to even wait for your spouse to pass before collecting under his SS and yours at the same time.

tansy · ‎01-02-2011

@Carmie wrote:
@tansy wrote:

@Carmie wrote:
@topcat10 wrote:

Does anyone have any idea why @Annabellethecat66's SS would be affected by investments? I don't see any connection between them. Isn't SS based only on earnings on which SS was paid by an employer...even if that employer is "self"?
The only thing that affects your SS retirement benefits is if you rec'd a pension from your employer (which reduces SS) unless you have 30 years of coverage then your SS benefits will not be affected.
Annabellethecat’s SS benefits were reduced because she was a former government employee who did not pay into the SS system. It usually happens when a person receives a government pension and SS at the same time.

Look up WEP ( Windfall Elimination Provision) on the Medicare website.
But she’s collecting her husband’s SS benefit, right? It’s hard to follow. @Carmie
You never really collect all of your benefits under your spouse’s SS if you worked and have enough of quarters on your own. You collect your SS benefit first, then if the benefits are higher under your spouse’s, you get up to the higher amount under his benefits.

For example, if your SS benefit is $1000 and your spouse’s is $2000, when he passes, you can collect $1000 on yours and up to half under his. So you would get $1000 more under his benefits. $1000 would come under your benefits and $1000 under his for a total of $2000 a month.

Some of the rules have changed around May of 2016. So if you collected benefits before this time period, you didn’t have to even wait for your spouse to pass before collecting under his SS and yours at the same time.