Subj : Re: Careers
To : Dave Drum
From : Carol Shenkenberger
Date : Fri Mar 08 2024 13:29:27
Re: Re: Careers
By: Dave Drum to Carol Shenkenberger on Fri Mar 08 2024 07:02 am
> -=> Carol Shenkenberger wrote to Dave Drum <=-
>
> > CS> Yes, most regret not finishing out once retired. It's a heck of a
> > CS> difference in medical and income. Me, pending social security (hold
> > CS> out 1 more year and will pull it the month before I hit 65), 1
> > CS> retirement income (Nay), 1 Government civilian (small, was only one
> > CS> 5 years), and Don's retirement and social security. 350k TSPs, IRAs
> > CS> and 401k. 112k CDs, all but 4.8k of house paid off (worth 278k). 1
> > CS> years ago I started banking 25% of the Navy pension.
> > CS> A lot of that in CDs that were allowed to grow from the interest an
> > CS> roll over.
> >
> > Sounds like my brother. He's drawing a union pension, a school board
> > pension and SSI. His wife is drawing a school board pension and SSI - so
> > they live comfortably.
> >
> > Me, I started drawing SSI @ 62 (had no idea of my life expectancy as
> > both parwntal units checked out in their mid-50s). So I work a part-time
> > gig at AutoZone which fleshes out the gummint cheques. And gives me
> > something to be besides vegging oout banging on this confuser.
> >
> > CS> Most without those pensions need a LOT more to retire. We are fine
> > CS> with it. 7k a month is pretty easy to live on (smile).
>
> Being un-attached and having my house paid off makes expenses low so I
> do OK on the gummint dole and my part-time gig. There's the occasional
> glitch - like my Beemr had a front shock tower rust through. It ate a
> tire - which Firestone covered under their road hazard warranty. But it
> will be near to U$1.5K to rebuild the front suspension. OWTCH! Meanwhile
> I'm without wheels so dining in is a must.
>
> CS> Yes and they probably do something that at first sounds strange but is
> CS> actually wise. They give the govt and state a 'free loan' by putting
> CS> extra monthly on state and federal accounts, so they get a good return.
>
> I sock a portion of my SSI into $avings every month. I call it my "rainy
> day" fund. It will cover the suspension repairs - and my brother, learning
> of my problem has said he is going to repay the open-ened loan I gave him
> and Ms. Vicky last spring. That'll go right into pumping the savings back
> to where it's supposewd to be.
>
> CS> There IS a solid reason for it. No matter what you do, the tax systems
> CS> never add up multiple strams of taxable income and adjust for being in
> CS> a higher tax bracket. I'm not sure if SSI is taxable but if it isn't
> CS> they might be ok with the 2 pensions but minute it shifts to Social
> CS> secrity they will find out the hard way. Don and I have 4 now, about
> CS> to hit 5 then 7 as we start low level disbursements from IRA and TSP or
> CS> 401k. Might just go 100$ a month for all 3.
>
> When I say "SSI" I mean social security pension. It probably has another
> "official" meaning. If my gross income is over U$25K the social security
> is taxable. When I began drawing it I set it up to hold out 8% just in
> case for taxes. Most years I get all of that $$$ I've loaned the gummint
> back on my 1040.
>
> CS> Works for us. Put it all in CDs where I only pay taxes on the
> CS> interest. Those will be the last touched.
>
> CS> Meantime, still posting Frugal but healthy cooking. in NextDoor.
>
> CS> Here's a simple one that I don't think I've posted here. It's for the
> CS> hurried weeknight cooking so uses a jar of sauce.
>
> CS> Quick Garlic Alfredo with sausage links.
>
> I'm a frugal eater. If a dish costs too much my throat slams shut. Bv)=
>
> I made a red sauced pasta dish for supper last night. I had a couple
> pounds of Italian sausage I had bought intending to make meatballs. It
> was at "use it or feed the dogs" time. So it got browned up/drained
> and added to the sauce pot. half a stalk of no-longer-firm celery and
> a 28 oz jar of store-brand red gravy went into the blender with the
> celery and a medium onion providing bulk. Then the mushrooms were added.
>
> After tasting I added a teaspoon of Italian seasoning and a teaspoon
> of garlic granules to the mix. Didn't have any bell pepper on hand so
> that got left out in favour of a 14 oz can of Red Gold diced tomatoes
> w/chilies.
>
> Let it all simmer until the pot length whole wheat pasta was cooked to
> edibility and presto .... we're living in Little Italy. Room mate and
> I ate well - with enough gravy left for another go in a few days.
>
>
> ... "It's a new world every heartbeat." -- Joyce Cary
Ouch on the car but glad you have solutions in the winds!
Yes, SSI is a different program. Medical retirement stuff for I think under
age 62. In our case, my Navy pension is 48k a year and Don's is just a smidge
under 25k (he retired 15 years before me). The social securiyu estimate puts
me at just under 2,4k a month (pretax) if I wait until age 64 and 11 months to
start disbursements. Nice!
Grin on the frugal cooking! I'll start pulling some of mine over here for you.
Our diet is high on seafood but I run that local group for others so you will
see savings tips related to sales in Virginia Beach and total costs plus per
serving.
