REACHED A LIFE MILESTONE....

[Times Like These]

My younger daughter just graduated college and started on her career. We told her to max out her 401k deduction and the importance of saving for retirement. Her smart ass millennial reply was, “that’s what my inheritance is for”[emoji23]


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[HNL2LHC]

GOod hear that you made it. Not sure if I will ever get there and I am only 10 years behind you.

 

[Icky]

I looked to see what my approx. SS benefits will be last month. $2,017 at 62. $2,886 at 67. $3,590 at 70. Since I have 2 union pensions. I'm taking mine at 62.

I'm fully vested at 50 (30 years), pulling my annuity and my pension and becoming a Walmart greeter

 

[spectra3279]

I'm fully vested at 50 (30 years), pulling my annuity and my pension and becoming a Walmart greeter

Baller living the dream.

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[Willie B]

...To the best of my recolection...I already had Medicare parts A&B...which I highly recommend...a friend turned me on to United Health Care Senior Advantage Plan...Where I had previously blown it with Medicare is I had not signed up for prescription drug coverage...now I have to pay AARP United Health Care $20 a month in penalty for not having done such...
...Not gospel...but A B and drug coverage seem to be important choices...

 

[Icky]

Baller living the dream.

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Gotta have goals
Stress free, no deadlines, emergencies, hi welcome to Walmart

 

[snafu]

I looked to see what my approx. SS benefits will be last month. $2,017 at 62. $2,886 at 67. $3,590 at 70. Since I have 2 union pensions. I'm taking mine at 62.

With your two Union pensions won't you get hammered with the WEP. I'm part of the CalPERS check on the month club. My SS should be around 1100 but with WEP due to pension I'll be lucky to see $500-600 and Medicare will take most of that.

 

[Bobby V]

With your two Union pensions won't you get hammered with the WEP. I'm part of the CalPERS check on the month club. My SS should be around 1100 but with WEP due to pension I'll be lucky to see $500-600 and Medicare will take most of that.

What is WEP. I had my tax man run my retirement numbers from when I plan to retire in 2020-2023 including SS the last 2 years. Nothing seemed to change tax wise.

 

[Kailuaboy89]

I lost everything trying to save my home and marriage in 07'...…..I have not a cent, im 48 and fucked, I will be working til I die, or die working, the American dream....which we have to be asleep to believe...

 

[snafu]

What is WEP. I had my tax man run my retirement numbers from when I plan to retire in 2020-2023 including SS the last 2 years. Nothing seemed to change tax wise.

Windfall Elimination Provision. Thought it applied to all pensions, looks more like government pensions. Something to take a look at.

 

[RodnJen]

With your two Union pensions won't you get hammered with the WEP. I'm part of the CalPERS check on the month club. My SS should be around 1100 but with WEP due to pension I'll be lucky to see $500-600 and Medicare will take most of that.

I believe that only applies to government employees.

 

[Bobby V]

Windfall Elimination Provision. Thought it applied to all pensions, looks more like government pensions. Something to take a look at.

No this WEP doesn't apply to my pensions. I had a financial advisor go over my benefits last month also and this didn't come up.

 

[DRYHEAT]

I believe that only applies to government employees.

It varies by agency, some pay into Social Security some are Social Security exempt. The ones that don’t pay in I think get a better deal pension wise but are ineligible for Social Security.

 

[TCHB]

Congrads Steve.
Are you going to start golfing?

 

[2FORCEFULL]

thanks everyone for all the replies....Gotta say... they have all the plans so f'd up and hard to understand,.. on the 10th of October I have a meeting with an adviser that is going to try to explain this mess....like most have said ,starting out with the best and most coverage is the key,... I tried to read about it and it just made me dizzy....I'm still covered by my wife' employer... but they make you sign up for medicare,... I also found out that after 66yr old , you can earn unlimited income... so one can still do so kind of work if wanted...Most of my income is interest I collect on mortgage's, so that doesn't count as earned income.. so no self employment tax...pretty confusing … what you invest in, and how you make money makes a difference.. one always thinks that putting money away for times when you really need it is the way to go, but if anyway the gov. is involved, If you take some, they call it a penalty and take 30% of what you take... I pulled some money out once, did it as a loan to my self, and had to pay my self interest...although I like to collect interest, one of the 2ff's was happy and the other was pissed...

 

[2FORCEFULL]

as far as my carpenters pension....fuc'n crooks.... they are splitting all my credits, so I'm a quarter of a credit short in nev...they claim that when I joined, it was not the "united brotherhood" and that each local was separate, because I went out perminate disabled, I was supposed to get a disability credit,... now they are claiming that I didn't proper apply for it so I don't get it... you have to have 10 credits... I have almost 20... but they are say'n that you have to have 10 in one local...when I was working, if there was no work in vegas...I'd start calling around looking for work, most of the time,I'd find work over on the coast and move there to work...what I have to do now is apply for the pension, and be formally denied, then take the union to court...I only need a quarter credit.... but get this... they will not count the credits if I go back to work for the quarter credit and I would have to work to earn another 10 credits before they will count the other 19... so then I would have about 29 credits...If I take them to court and get awarded my disability credit... I'll get the pension...

 

[CarolynandBob]

Congrats Steve.

My wife and I both started saving in our 401K's early.I think I was 21 and she was 22. I couldn't afford shit at 21 but a co-worker said you can't afford not to. He said start at 1% and then increase it 1% each month until you max out. You won't even miss the money that way. I did that and compounding interest is a wonderful thing.

When my wife and i got married 20 yrs ago we decided one of the downfalls of a 401K is the penalty of 10% if you want to retire early. We started saving 10% of our income in after tax accounts. This way we would have money without a penalty. It took some doing but we were saving 30% of our gross income for about 18 yrs. We never considered SS or medicare into our retirement plan. If we get it great. If we don't we will consider it just another government fucking, but it will not change our life.

My wife made it so we still enjoyed life while we saved. If it were me I would have put 50% away, but she said early on that we need to enjoy life now and not just save for retirement.

 

[Taboma]

as far as my carpenters pension....fuc'n crooks.... they are splitting all my credits, so I'm a quarter of a credit short in nev...they claim that when I joined, it was not the "united brotherhood" and that each local was separate, because I went out perminate disabled, I was supposed to get a disability credit,... now they are claiming that I didn't proper apply for it so I don't get it... you have to have 10 credits... I have almost 20... but they are say'n that you have to have 10 in one local...when I was working, if there was no work in vegas...I'd start calling around looking for work, most of the time,I'd find work over on the coast and move there to work...what I have to do now is apply for the pension, and be formally denied, then take the union to court...I only need a quarter credit.... but get this... they will not count the credits if I go back to work for the quarter credit and I would have to work to earn another 10 credits before they will count the other 19... so then I would have about 29 credits...If I take them to court and get awarded my disability credit... I'll get the pension...

"I'll get the pension..." --- There ya go, that's the spirit

What you're describing is exactly what happened to my "Bury a body Buddy" union electrician after he moved to Havasu. He traveled and worked everywhere trying to obtain enough union work hours with continuity to get his pension credits --- came so close, but a heart attack took him out as he approached the finish line, so his family got nuthin.
So good luck

 

[WhatExit?]

Congrats Steve!

And big thanks for starting this thread. Some really good info here posted by you and others!

 

[2FORCEFULL]

Congrats Steve!

And big thanks for starting this thread. Some really good info here posted by you and others!

I just don't see why It has to be so confusing... do you want fries with that.... how hard can it be?

 

[RVR SWPR]

What happens to Union Pensions if the Union Member Drops Dead just a year or 2 before retirement,same with their SS.Will the Union Member wife be able to collect the pension,Even when most likely she will remarry almost immediately?

 

[stephenkatsea]

Yes, they definitely make it confusing as hell. Believe you have to enroll in parts A & B. And there is a penalty if you don't sign up by a particular time. Payment for A&B is deducted from our monthly SS. I understand Medicare C to be an "advantage" plan which may include prescription medication. Some Advantage plans may also include dental and vision. Some require that you must only use physicians within their network. We didn't care for that additional restriction. Part D is for prescription medications. Plans C and D coverage will vary according to where you live. Prices will also vary with coverage selected. We purchased part D coverage separately and it is paid monthly via our HSA account. Prior to reaching the Part D max out of pocket, we pay for prescriptions, with our HSA account, at their previously established reduced pharmacy rate. Like a lot of insurance, it will pay best if we are in a catastrophic situation.

 

[OceansideRide]

Wedding? You are a better human than I. With the divorce rate what it is, I've told all 4 of my daughters they get money for a house down payment, no wedding. I figure with us being married for 24 years, and both of our parents also still married, luck is going to run out at some point. Hopefully it makes them think long and well about wasteful wedding expenses and who they choose to marry.

Congrats, I have about 12 more years to work before I do that.
I'm 55 now and an empty nester. I do have one more wedding to pay for.

 

[wishiknew]

How long were you in the union. Were you vested?

Yes I was vested and I now have no pension go figure lawyers will have a field day

 

[wishiknew]

What happens to Union Pensions if the Union Member Drops Dead just a year or 2 before retirement,same with their SS.Will the Union Member wife be able to collect the pension,Even when most likely she will remarry almost immediately?

No bullshit at its finest

 

[LuauLounge]

Someone mentioned drug plans as well. In my lifetime, I haven’t spent $100 on drugs....until 5 months ago. I have cancer and the infusions weren’t working, so my oncologist prescribed Stivarga. I go pick up the one month prescription and my copay was $2,952. The second and third months were $640 each since I had met the deductible and was in the catastrophic phase. After that I was able to get in a program for 0 copay.
No insurance, $14,400 a month. The benefit is that the drug is working and the tumor is shrinking.
Self insuring is great until you get sick.

 

[KENDOG689]

Someone mentioned drug plans as well. In my lifetime, I haven’t spent $100 on drugs....until 5 months ago. I have cancer and the infusions weren’t working, so my oncologist prescribed Stivarga. I go pick up the one month prescription and my copay was $2,952. The second and third months were $640 each since I had met the deductible and was in the catastrophic phase. After that I was able to get in a program for 0 copay.
No insurance, $14,400 a month. The benefit is that the drug is working and the tumor is shrinking.
Self insuring is great until you get sick.

Holly smokes....I feel horrible for you having to pay that.If its working for you then that friggen awesome.Get well soon my friend.

 

[Taboma]

Yes I was vested and I now have no pension go figure lawyers will have a field day

Not sure of your exact circumstances of course, but I was able to get two of the three possible IBEW pensions.
After leaving the IBEW following shall we say a disagreement after 20 years, I figured it would take lawyer intervention. I'd read where to receive the "International" pension membership in good standing is required, obviously I'm not.

I started with the NEBF pension, I could find nothing in the regs pertaining to good standing or even current membership.
Jumped through all the required documents hoops, which for me was a problem having lost them all in the wildfire.
Finding success with that one and confidence bolstered, having already compiled most of the documents, I submitted for the So Cal IBEW/NECA plan, took awhile to jump through their document hoops, but again I prevailed.

In my case I'm fully retired and on SS, so there's no conflict over continuing to work in the "Electrical field" which can suspend the So Cal plan. You do have to sign a form allowing them access to your SS records. At no point did I attempt to conceal my work history, I filled out the forms as requested figuring I'll either get it or not, then proceed legally if need be.
My SS record showing close to 30 years outside of the IBEW did not come up once or preclude me from receiving those two pensions.

Both of these plans were paid with employer contributions and as such were part of our wage package, so gather the docs and go after them both !!

 

[TPC]

Steve I had dual premium Healthcare plans with my wife's and mine.
Medicare is far far better. Light years better. But only if:

If you're in the ER line up cue on a gurney awaiting your turn for the sawsall and number 12 bastard file on the head of your dick, bring it to their attention you have medicare + United. You get run to the head of the line.
Trust me Steve, I've experienced this 3 times in the past 3 years.
Get the United Health care gap coverage. PPO, not HMO. HMO is useless.

Just talked to a friend Roger. He has medicare with no gap coverage and is now wearing a stinky colostomy bag and hips and dick blown out from radiation.
Had he had the United PPO gap coverage he'd have been rolled into a first cabin hospital where they don't do that cheapo method.
You get pills and sharpened corkscrew pea shooter sized stainless needles in the chest instead at UCLA, Huntsman, USC or City of Hope. None of which take HMO.

 

[Taboma]

Steve I had dual premium Healthcare plans with my wife's and mine.
Medicare is far far better. Light years better. But only if:

If you're in the ER line up cue on a gurney awaiting your turn for the sawsall and number 12 bastard file on the head of your dick, bring it to their attention you have medicare + United. You get run to the head of the line.
Trust me Steve, I've experienced this 3 times in the past 3 years.
Get the United Health care gap coverage. PPO, not HMO. HMO is useless.

Just talked to a friend Roger. He has medicare with no gap coverage and is now wearing a stinky colostomy bag and hips and dick blown out from radiation.
Had he had the United PPO gap coverage he'd have been rolled into a first cabin hospital where they don't do that cheapo method.
You get pills and sharpened corkscrew pea shooter sized stainless needles in the chest instead at UCLA, Huntsman, USC or City of Hope. None of which take HMO.

Have you noticed many older people taking their own lives after spending an afternoon shooting the shit with you ??
Hell, I felt pretty positive this morning, when shortly after awakening I noticed I was still alive, thinking, great start man !!
Now I'm rethinking this whole thing, like, why do I want to wake up alive, so the health industry can just legally torture me until I'm broke and homeless ??
Anybody happen to know where the nearest Soylent Green recycling center is located ?

 

[RCDave]

Soylent Green ?

I remember that movie.

 

[redone76]

That last sentence is a good one.. I still feel like I'm 20 years old, but now I'm 41? WTF? And I'm no further along then I was then.. LOL We are tightening the belt and getting rid of all financing that's possible.

RD

No shit. Doing the same in my house. Wife and I turned 40 this year and realized we need to seriously buckle down. Retirement will come as quick as 40 did. I used to joke that my in-laws were my retirement...no more


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[Taboma]

I remember that movie.

From 1973, speaks of global warming, greenhouse gases and it's timeline (2022) is only 4 years away --- Cheers
Funny how in 1973, 2022 sounded like the distant future ---- and yet

 

[mjc]

My wife started this stuff a few months ago. Since every year you can change if you want she went with obe of the cheapest for now so we can spend more time researching what we will really need.

 

[was thatguy]

That last sentence is a good one.. I still feel like I'm 20 years old, but now I'm 41? WTF? And I'm no further along then I was then.. LOL We are tightening the belt and getting rid of all financing that's possible.

RD

Hang on tight, the train speeds up real fast from here.

 

[TPC]

I feel great. I survived cancer. When I was a kid if ya got sick ya died. That's as good a reason to be happy as any.

Wife said USC was tops in cancer survival when she started there and that was about 27%.
Now, today survival rate high 80's% flirting with 90% survival.

So cheer up, it's just joking except the 1/4" dia sharpened corkscrew stainless needle in your chest.
But that only hurt for a few minutes. Make sure the nurse knows clockwise from counter clock wise rotation when she removes it BTW. Younger nurses grew up with digital clocks so you my have to word it "reverse threaded."

If you guys don't get the supplemental Ins then the care is as good as a back alley converted garage clinica' in TJ.

 

[RCDave]

From 1973, speaks of global warming, greenhouse gases and it's timeline (2022) is only 4 years away --- Cheers
Funny how in 1973, 2022 sounded like the distant future ---- and yet

View attachment 685537

Remember this one?

 

[Taboma]

I feel great. I survived cancer. When I was a kid if ya got sick ya died. That's as good a reason to be happy as any.

Wife said USC was tops in cancer survival when she started there and that was about 27%.
Now, today survival rate high 80's% flirting with 90% survival.

So cheer up, it's just joking except the 1/4" dia sharpened corkscrew stainless needle in your chest.
But that only hurt for a few minutes. Make sure the nurse knows clockwise from counter clock wise when she removes it BTW.

If you guys don't get the supplemental Ins then the care is as good an a back alley converted garage clinica' in TJ.

Yeah I was goofing, I already faced these life and death health care issues and buried both my parents close to 30 years ago.
Most all of my friends since.
Can have a profound affect on your future life plans, I know it did mine
Out of those deaths, one in particular, although tragic, was interesting. During the time when the VA Hospitals were getting their collective asses kicked by the media, my close friend was undergoing cancer treatment at the VA Hospital in Augusta GA. Ultimately the treatment failed, but it bought him a couple of more years and he never stopped raving about the awesome care they were providing.

 

[Ziggy]

Wedding? You are a better human than I. With the divorce rate what it is, I've told all 4 of my daughters they get money for a house down payment, no wedding. I figure with us being married for 24 years, and both of our parents also still married, luck is going to run out at some point. Hopefully it makes them think long and well about wasteful wedding expenses and who they choose to marry.

He did offer that to each of his daughters but ......well, ya know, kids don't all think that far ahead. Regardless, I love my DejaVu God-Daughter(s).

 

[Taboma]

Remember this one?

View attachment 685542

How could I forget, it had Farrah in it !! Although since I was racing quickly towards 30, I found it somewhat discomforting

 

[TPC]

Your nurse without Supplemental Medicare Insurance:

Your N.I.L.F. with Supplemental Medicare Insurance: