MLPFC Shit Posting

[BushAK]

Teachers in Alaska don’t pay into social security either. Jokes on them as I plan on dying at my desk at age 71.

 

[BBTown Bomber]

At my full retirement benefit eligibility age: 66 years, 8 months.

Mrs. Bomber is also 63 and I thought hers was 66 and 10 months. Need to revisit that tomorrow at the office.


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[BBTown Bomber]

I really think "GenMod" was a universal sign-on for the Yahoo! assigned mod team. They probably felt they needed to take back the board when the legacy mods held the 2nd annual "ban a poster" contest. The 1st one was kind of funny, but they lost control a bit with the 2nd one and some effeminate anfaggits escalated it to Yahoo! for resolution. It you're (yore) a thin-skinned individual, tMB probably wasn't the place for you to begin with.

I lack a subscription to any Rivals sites these days, so good luck to tMB. In its heyday, it was a pretty entertaining place to waste some time, and one helluva place for breaking news.

* yore - one of my fave words
* thin-skinned - one of my fave phrases

Would like to think that I piss off Dean every day with my use of “thin-skinned”……😂🤩🤣✊


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[BBTown Bomber]

View attachment 3980
3 left @Woodrow F Call

Looks like the highway going south from Gothenburg down to Hwy 23. Gorgeous drive, imo.

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[BBTown Bomber]

I'm 37 and this has been my norm, is it to late to audible ?

Nope

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[BBTown Bomber]

No. You need 40 quarters aka 10 years to qualify. You still have plenty of time but just know if you make $200k a year vs. $50k a year you get a lot more benefit when you retire. It's all based on how much you contribute over the years and will get a lot more if you have higher income over many years.

We are a one Social Security benefit home as my wife is a retired California high school teacher and is not eligible for any SS benefits except Medicare. She doesn't even get survivor benefits if I croak before her. Some deal teachers made with the teacher's union but I'll take her California teacher's retirement over any additional SS benefits.

And yet, Neb teachers get their State Teacher’s Retirement AND Social Security. Most get a decent pay raise when they retire.

Plus, that doesn’t include any 403(b) or Roths that they funded on their own. Not a bad deal.


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[BBTown Bomber]

May not be worth it depending on what you’re doing with the money instead.

If you are gonna start paying in, my advice is to do only enough to stay currently insured (meaning you’re consistently paying in and would be eligible for disability benefits if something were to happen prior to retirement) and get your average monthly earnings to approximately equal the first “bend point” in their benefit calculation. By doing that, you maximize the return you get from what you’re paying in (90% on monthly earnings up to that first bend point, less than 50% on monthly earnings after it). The first bend point is about $1,000 in today’s dollars, which they’ll adjust higher in the future for inflation.

So essentially, like @bbenson67 said you only need 10 years of sufficient earnings to be eligible for retirement. You’d probably be surprised at how many you already have, even if you aren’t fully insured yet. You can check that status on the social security website by creating a mySocialSecurity account. After that you’ll want to make sure you get your average annual earnings that you pay taxes on as close to $12k as possible and that will give you the best return from the program. Then just invest the difference.

Reasonable advice as long as you know that many/most don’t “invest the difference”. Life gets in the way for so many and that “difference” never gets earmarked to be invested.

I’ve been watching for 32 yrs and it doesn’t work for most.

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[BBTown Bomber]

*Zach Galifianakis doing casino math gif*


I'm not shitting you guys when I tell you I'm a dumb farmer. I'll probably just forward your responses to my tax accountant and tell him to listen up

If only you knew an experienced financial advisor who also imbibes in Silver Bullets…..😘


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[BBTown Bomber]

had a former client ask me this when he was 57


not the worst I'd ever dealt with because he was just asking for business planning and not "the IRS sent me this here letter awhile back about some audit? Anyways... thought I should have you look at the notice they just sent me since I threw away their first letter"



my advice: Determine the number you think you need to be able to retire. You're only 6 years older than me so I'm just gonna ballpark that you will need at least $1.2m if you are planning on doing the stereotypical retire at 65....but since you're a farmer I'm thinking that ain't happening. Anyways, that amount is not insurmountable for you so don't worry. If you have any land close to town or blacktop and you can sell a piece of it to some Johnson County Dentist (Lawyer, Doctor, Insurance agent, Car Salesman, etc. etc.) in town who wants to have an acreage out in the country I'd do it now when you can swindle them on price. They don't know land prices in your area, they just have heard for years that land prices are high and especially for agriculture blah blah blah... cut off a 10 acre corner of some shit pasture and sell it to them for $30,000. They think they are getting a sweet deal and you just got a single pay day worth more than those 10 acres would make you in 15 years of grazing. Take the $30k and give it to a local investment guy you know. (Frankfort guy?) Tell them you want it medium aggressive and to roll over any money generated off of it back into the portfolio or into an IRA. You can put money in but don't take any money out of that until you're 67. That Cash combined with selling off of farm assets you don't need anymore (equipment, the house or buildings, etc etc) and while still holding on to your land you should get damn close to the $ target without really trying.


PS: When you get really old don't worry about it, Agriculture Medicare exception baby.



PS PS: BE SURE TO ADMIT TO ANY INCOME THAT THE OTHER PARTY WILL DEDUCT! The IRS algorithms will eventually catch a discrepancy like "Johnson County Dentist deducted $30,000 to Woodrow in 2022 and Woodrow did not show the $30,000 on his return" Audit City ain't a fun place to be.

Only part of this story I don’t agree with is the “medium aggressive” for a 37 yo.
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[BBTown Bomber]

This is the second time I've read on message boards in the past two weeks about teachers opting out of SS for some reason. I didn't even know that was a thing.

Not a thing in the MotherLand.

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[BBTown Bomber]

Just finished watching the USA women’s VB beat the Dom Rep to move onto the semis. Jordan Larson and JWO……..GBR.

Bedtime……😴

 

[bbenson67]

Only part of this story I don’t agree with is the “medium aggressive” for a 37 yo.
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Yup. Pedal to the metal aggressive investments when you are young and if it all goes south there's time to recoup. That was my philosophy anyway. It got pretty scary around 2008 but I stayed with it. Sucks to be the guys who went to cash at the time and missed one of the greatest market rallies in history. The market can be a cruel professor of investing.

 

[BBTown Bomber]

Yup. Pedal to the metal aggressive investments when you are young and if it all goes south there's time to recoup. That was my philosophy anyway. It got pretty scary around 2008 but I stayed with it. Sucks to be the guys who went to cash at the time and missed one of the greatest market rallies in history. The market can be a cruel professor of investing.

The Dow bottomed out on (or near) 3-9-09, somewhere around 6,200 or 6,300. And earlier today it closed above 35k.

Those who bailed sometime in ‘08 were left crying in their Busch Lattes over the next 13 yrs.

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[bbenson67]

Reasonable advice as long as you know that many/most don’t “invest the difference”. Life gets in the way for so many and that “difference” never gets earmarked to be invested.

I’ve been watching for 32 yrs and it doesn’t work for most.

^^This right here.^^ I strongly believe one of the most difficult things to master in life is delayed gratification. Extra money is well, extra money and it gets spent. Hearing somebody telling you in your 20s, if you'd just put x amount of money away every month you'll be a multi millionaire when you retire vs that new BMW, guess what's going to win nearly every time.

 

[bbenson67]

I have no idea why the formatting in my previous message is screwed up. I posted just like I normally do.

 

[BBTown Bomber]

I have no idea why the formatting in my previous message is screwed up. I posted just like I normally do.

@LoudHogRider is usually on call for these technology issues……🤣


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[HuskerGarrett]

I have no idea why the formatting in my previous message is screwed up. I posted just like I normally do.

@LoudHogRider is usually on call for these technology issues……🤣


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FIFY. The reply was just in the quote box 📦

 

[BBTown Bomber]

FIFY. The reply was just in the quote box 📦

Thanks, G-Dawg.

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[LoudHogRider]

93, huh?? That leaves plenty of time for that long-planned rendezvous at the Twisted Tail. Thinking weekend after next, if yore available.

Saturday the 14th or Sunday the 15th. Taking my mom down to 42nd & Dodge for a Doc appt on Monday the 16th. I’ll be in touch. 😎👍


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Pulling up stakes and heading for heading for Scottsdale tomorrow to visit the daughter & my sister & BIL. We should be back by then. 🤞

 

[LoudHogRider]

“at the WORST POSSIBLE TIME”

I’m afraid to ask…….🤣


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