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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: nihil who wrote (68830)	12/27/1999 8:21:00 AM
From: Ish	Read Replies (1) \| Respond to of 108807

<<Ish, you just don't get it. Don't retire and draw benefits until you are 70, and earn all you wish. >> I'm iffy on living to 62 so what benefit will I get if I'm dead at 70. I'm still paying in so by the time I'm 70 I will have paid in around $125k. The benefit is listed now around $1,600 per month. To get the return you're looking at I'd have to live to 116. << Of course if you had rented out your land instead of treating it as a farm, you would have paid no self-employment tax on it, and could have retired when you wished. >> I would have had to used a farm manager and lived out of state to get out of the self employment taxes. On the other hand I did save $315k in inheritance taxes by treating it as a farm. Another $315k in taxes and I wouldn't own the farm that my great great granddaddy got from James K. Polk and Zachary Taylor. <<And just for fun, why don't you tell us if you accepted Farm Payments this year? >> Just for fun, no I didn't. I don't do government programs. I just had a go around with the current tenant over that. I'll leave it set bare before I take a handout. <<I hate rich men who whine about how the government is gypping them>> So do I but a man of little means I get to whine.