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Posted on 10/24/2025 8:19:42 AM PDT by wardamneagle
Just information. The SSA website has an announcement at the bottom of the page. lol
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True that. And in the world of SS vs investing, there are ways for investments to grow tax free (i.e. Roth accounts) but income taxes are paid on SS. So any decision to delay taking SS should at least consider the increased taxes from it.
With my wife retired and 60, and me quasi-retired in my 50's, and with the Trump tax cuts, combined with our low cost of living area in Alabama (able to live comfortably for a relatively lower income and, therefore, we're in the 12% tax bracket), we'll probably start collecting my wife's SS two years from now when she turns 62. Even with that extra taxable income (in her case 85% of her SS will be treated as taxable income) and even though we'll both be too young for the new Age 65 standard deduction bonus, we'll still be in the 12% tax bracket. Therefore, I'll still contribute to our Roth IRA's (because I'm still somewhat working and therefore able to contribute to our Roth IRAs) and not get a tax break now (already in a low tax bracket) instead of investing into traditional IRA's. And when I fully retire we'll convert my tax deferred investments into my Roth IRA in chunks across years (each chunk small enough to keep us in the 12% tax bracket, since Roth conversions are taxable events).
The end result is all of our investments will be in our Roth IRA's growing tax free (won't pay taxes on living on the withdrawals from our investments). Both of us will collect SS at the earliest age (62) and I may do only 2% or 3% annual withdrawals from investments for the first few years because the SS checks will be helpful to live off of. That'll allow our investments to grow more than if we did the common 4% withdrawal strategy, which we'll eventually do in future years when the SS checks are low (because they won't rise enough to keep up with inflation). Or I may do 4% withdrawals from day 1 of me being fully retired so we can enjoy it more while we're young, with the understanding that our lifestyle will eventually slow some (because the SS portion of our income won't rise enough to keep up with inflation, even if the Roth IRA portion does).
“According to Google ai:
The projected Medicare Part B premium for 2026 is $206.50 per month, a significant increase of $21.50 from the 2025 premium of $185”
So with a 2.8% increase in SS, less the $21.50 increase in Medicare, both myself and the wife see a net increase of $60 each a month in our pocket. $1440 combined less Uncle Sam’s cut is about $1250. Better than going backwards.
“GOP better slow down on foreign interventions and focus on issues at home.”
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I could not agree more. Consumers are carrying record levels of debt (at high interest rates), evidently the result of trying to maintain their lifestyles by borrowing. At some point the growing debt service burden will impact their spending habits and the economy will slow down. I think this pull back has already started. There are signs that prices on some highly discretionary items are softening.
But back to you main point, there is much to do here at home to strengthen and grow the economy. Too much time, energy and resources are being diverted to foreign “projects” making the GOP increasingly at risk of ignoring the oft mentioned admonishment “It’s the economy, stupid!”
The GOP needs to be seen as being dedicated to “America First” lest it pay a price in the mid-terms.
“$1440 combined less Uncle Sam’s cut is about $1250. Better than going backwards.”
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True but your net (not counting inflation) is only $24 on a weekly basis.
My cousin took the SS benefit as soon as possible. Now, 3 years into the full retirement period, he complains that he did, as if he was forced into it!
I advised him to wait & continue working, he was eager for the early money and not to work. His common-law wife brings in a good check while he sits around doing not much of anything.
$21.5 Med Part B increase per month.
My SS benefit will increase about $80 per month at 2.8%
People should think before they start screaming.
Special thanks to my father in-law who worked as many hours as he could for 50 years then had the place built when he was too old to handle it.
Then he died at 84 after going blind for the last 15 of his life.
I have the same malady's as my mom and pop.
I am just so blessed to have such a wife as mine.
God has provided and will keep providing...just enough so I don't forget about Him.
“with the understanding that our lifestyle will eventually slow some”
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One assumption that you hear from many people about to retire is that they expect their expenses to be significantly lower because they’re not working anymore. In my observations many healthy retirees who suddenly find themselves with lots of free time wind up doing a lot more things that cost money than they ever dreamed of. Not saying that will apply to you, but many people will suddenly discover new hobbies, activities and things to do that require money. Filling the new void in your life can be a wonder thing, but it can have budget altering ramifications. ;)
Sounds like you have a very well thought out retirement plan.
How much of a raise Congress will be giving themselves?
Th 2.8% seems small, with the inflation CPI running at about 3%, and possibly more than 3% for “urban wage earners” - which is supposed to be the basis of the social security COLA.
“The Social Security Act ties the annual COLA to the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as determined by the Department of Labor’s Bureau of Labor Statistics.”
So, we should be able to ask why the coming COLA for social security is NOT at least 3% instead of 2.8%??
If that bothers him, how come he doesn't go work? Does he believe that collecting SS forbids him from working?
Usually, COLA plus 10%...
Last year, it was COLA plus 20%...
I was checking the inflation statistics yesterday. The official inflation statistic from the government is 4% another suicide check which I find a little more reliable said inflation was actually running at about 8%.
So the cola increase for Social Security should be more than 2.5%.
Yes, the Medicare part the premium is going up to $210. I think from 187.
Thanks. I told my wife to expect me to volunteer in church more. There’s part of me that wishes I had formally gone into the ministry. She reminded me that the man of God bit is still attractive. LOL
I got a notice today my Medicare Rx premium will go from $66.17 a month to $179.67 a month starting January 1.
That’s more than double.
They know ya have a few bucks left and they want it!
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