Free Ebook.

Enter your email address:

Delivered by FeedBurner

« Help a Reader: Condo Questions | Main | Review: Sound Mind Investing »

March 21, 2009


Feed You can follow this conversation by subscribing to the comment feed for this post.

Did you take in the time value of money into your calculation?

"Capitan Danger" probably wouldn't be investing any of the money and would simply spend it all, but what if you were going to live until you were 81 and you were able to earn some interest on the earlier money?

Just a thought...

Good point Tom.
Also as I pointed out last week, there is a little known feature of SS where you can do a full reset of benefits up to age 70 by paying back everything (no interest charged) you have received to that point.

CURRENLTY, you can pay back Social Security with not interest and get a higher benefit. I would not count on this being the case when you retire, Congress could change this at anytime. If more people begin paying back to get the higher rate, I would assume this will finally hit Cogress's radar screen and they will change this.

Tom - great point and something I've been thinking about too.

Also, nobody can really predict how long we'll live, and our genes is one of the greater clues into it. BTW - out of 15 years life style difference mentioned above, 10 years is gained by just not smoking and most of the rest by not being morbidly obese. Everything else has rather minor effect.

This is just statistics, though, an individual case can be different. For example, 10% of smokers would get lung cancer in their lifetime vs 1% of non-smokers. But an individual smoker may not get lung cancer and an individual non-smoker can. One has to consider one's health at the time one has to make a decision, one's genes, how much one needs the money, what one will do with the extra money, etc.

Kitty has some great points. I kind of fit into Captain Danger's profile, but am trying to play catch up now that I am 45 and realize I'd love to be able to retire someday. Whether I will be able to is another matter. It's interesting, though, I have known several hard partying people who have outlived the ones munching on celery and carrot sticks all the time and led pretty boring lives. Only the good die young??! Flashback to Billy Joel song here... Anyway, guess it's like Kitty said - we just all have to evaluate where are at when the SS time comes..

Does anyone know whether the $14,165 earning limit is gross or net?

The comments to this entry are closed.

Start a Blog


  • Any information shared on Free Money Finance does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser. Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. All posts are © 2005-2012, Free Money Finance.