Community Chat

[151949]

On 5/31/2014 madzonie said:

On 5/31/2014 happy housewife said:

I would imagine it would be extremely difficult to get by on SS alone. That said - those who are retired and have savings to fall back on have that because we did without other things for many years and saved saved saved so we would have a comfortable retirement. Since i worked for a non profit (hospital) I never had the advantages of a 401K and matching funds so many get , so my DH paid in the max to his 401k and we took advantage of his employers very nice matching while we used my income to pay the bills each month. We frequently had to practice "use it up or wear it out before you buy anything new' economics

snip

hh - I'm curious as to why your hospital didn't make 403(B) plans available to you and other employees? I worked for non profits most of my career and we had 403(B) options available to us. Plus my last employer (prior to my retirement in 2004) matched my contributions.

Those only became available the last couple years I worked.

[151949]

On 5/31/2014 Nancy Drew said:

Just another thought. Many have predicted that SS will run out of money so for the ones that have paid into it for 30 years are scr-wed. I am lucky my husband is very financial savy and invested like there was no SS. We also went with out for 30 years to make this happen. Only in the last 5 years have I been able to splurge. Many people spent like they were never going to age and not be able to work. Now they want what the savers have.

Actually, this is exactly what I have experienced. People who for the past 40 years have spent every dime either on buying unnecessary possessions or on having a good time now are whining because they can't retire and/or are still in debt. Then they go off telling those of us who did save and did without some of the niceties how we are SO LUCKY. luck had absolutely nothing to do with it.

[Irshgrl31201]

On 5/31/2014 abbeythe8th said:

On 5/31/2014 RibbonsRosesRainbows said:

On 5/31/2014 Irshgrl31201 said:

On 5/31/2014 RibbonsRosesRainbows said:

Well had I not had a head injury I would have a great savings and 401K..........with great benfits.........but things have a way of changing in mid-flight and in our state you can't sue your employer or I would have a lot of money for them not fixing the stairs the last person fell on......but all she had to do was go to physical therapy for her foot........it took out my life practically........no wonder they did not fix the step they knew nothing would not be brought against them but they fixed it the next day. I can't be bitter the Savior I serve walks on water and he is limitless.

In every state workers compensation is available if you are hurt on the job. Did you look into this?

I had no family to help me and I had a head injury.......I company put me on a short term long term disability plan........while I was out of it I guess I signed papers not to use Workmans comp.........too late now to go back and try and get it.

If you can prove you did not know what you were signing, it may not be too late. You need to speak with a lawyer. They will not charge for a consultation.

I know someone who recently won a a large settlement for a case which originated in 2001.

I agree. I think signing something with a brain injury would make anything you signed null and void. Did you EVER (even years later) consult a lawyer at any time. Did you not have one person who was working for your interests at all?

[madzonie]

Three comments: 1) we have been told or advised for YEARS AND YEARS AND YEARS to not rely solely on SS for retirement, 2) I was a single mom for years before remarrying. I earned very little, but I STILL managed to start saving "for the future," and 3) if you "hate congress" so much I DARE you to vote OUT your incumbent...I DARE YOU.

[baddest_dog]

On 5/31/2014 Ford1224 said:

On 5/31/2014 Moonlady said:

On 5/31/2014 Ford1224 said:

On 5/31/2014 Moonlady said:

On 5/31/2014 Ford1224 said:

On 5/31/2014 Moonlady said:

On 5/31/2014 Ford1224 said:

I am a recipient of SS and it doesn't matter to me whether there's a COLA or not because even when there is, it is mostly used up by the increase in Medicare premiums. We wind up netting about 1% of the total COLA.

Not for those who were "grandfathered."

Really? I've been collecting since 2003, am I "grandfathered?" Seriously, I didn't know this.

There is a provision (hold harmless) which prevents some older beneficiaries from having their benefit decreased.

Well, I sure would like to be educated about this. Where can I find this information? I have never heard of it.

Okay, maybe I used the wrong word (grandfathered). Sorry.

The best sites (I've found) are advocacy groups and attorneys' sites. Here's an old site which, IMO, explains who's eligible and who's not. Note, though, that it was written in 2011, when the last "no-COLA" was in effect for SS recipients.

I think the hold harmless provision was enacted in the late 80s.

http://www.medicareadvocacy.org/InfoByTopic/PartB/10_10.21.PremiumsandCOLA.htm

I just printed this out (six pages, small print) and will read it while eating lunch. Thank you, Moonlady.

be careful of what you read on the internet. Advocacy groups are usually politically motivated and not trustworthy.

[MaggieToo]

Each year I owe the feds about $150. in taxes. Next year, I think I will keep it and write a note on my return and say that since I haven't gotten a SS increase in several years that I need the money more than they do. Think they'll make a big federal case about it?

[maryebrown_1]

On 5/31/2014 Irshgrl31201 said:

On 5/31/2014 abbeythe8th said:

On 5/31/2014 RibbonsRosesRainbows said:

On 5/31/2014 Irshgrl31201 said:

On 5/31/2014 RibbonsRosesRainbows said:

Well had I not had a head injury I would have a great savings and 401K..........with great benfits.........but things have a way of changing in mid-flight and in our state you can't sue your employer or I would have a lot of money for them not fixing the stairs the last person fell on......but all she had to do was go to physical therapy for her foot........it took out my life practically........no wonder they did not fix the step they knew nothing would not be brought against them but they fixed it the next day. I can't be bitter the Savior I serve walks on water and he is limitless.

In every state workers compensation is available if you are hurt on the job. Did you look into this?

I had no family to help me and I had a head injury.......I company put me on a short term long term disability plan........while I was out of it I guess I signed papers not to use Workmans comp.........too late now to go back and try and get it.

If you can prove you did not know what you were signing, it may not be too late. You need to speak with a lawyer. They will not charge for a consultation.

I know someone who recently won a a large settlement for a case which originated in 2001.

I agree. I think signing something with a brain injury would make anything you signed null and void. Did you EVER (even years later) consult a lawyer at any time. Did you not have one person who was working for your interests at all?

I DEFINITELY agree with Irish and Abbey! RRR needs to consult with an attorney and bring her medical records (from the accident) as well as the paperwork from her employer. It certainly seems like they took advantage of her and an astute lawyer could possibly sue her former employer for neglect, fraud, and compensatory/punitive damages.

[maryebrown_1]

On 5/31/2014 MaggieToo said:

Each year I owe the feds about $150. in taxes. Next year, I think I will keep it and write a note on my return and say that since I haven't gotten a SS increase in several years that I need the money more than they do. Think they'll make a big federal case about it?

If you can get a large group together, who knows how they'd deal with it? Safety in numbers...

[LilacTree]

On 5/31/2014 MaggieToo said:

Each year I owe the feds about $150. in taxes. Next year, I think I will keep it and write a note on my return and say that since I haven't gotten a SS increase in several years that I need the money more than they do. Think they'll make a big federal case about it?

It will be ignored and you will just get another notice. This is all automated.

[lillyville]

Blame your president.