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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: w0z who wrote (12106)	10/11/2021 2:22:04 PM
From: TigerPaw	1 Recommendation Recommended By Kirk © Respond to of 26930

I took my social security at 62. For us it was a great move because otherwise I would have still been working. We had assets, but I needed income too. Having SS meant we could travel and pursue other interests and move to a place we like but is not convenient to the type of work I used to do. All of that would have been delayed if I waited, and I'm getting old enough I don't want to delay things.

To: w0z who wrote (12106)	10/11/2021 2:43:13 PM
From: Kirk ©	Read Replies (1) \| Respond to of 26930

Exactly! Also, it gives us a few years (between 62 and 70) to get an idea of how much we really need to live on... so we can work more or less while getting there. I pretty much ended advertising my newsletter and get far more from setting the buy and sell points for the stocks to amplify my returns than I get from the subscriptions, but I like working and it helps me stay regular with my updates. Sort of like how I can't do yoga at home on my own but when I go to a class with many healthy ladies and a beautiful female instructor, this old dog will do all he can to not look and act like an old man in the class. I've told my GF that once I get Medicare, I want to take the max out of my IRA to fill the lower bracket, maybe convert it to my ROTH... I hate paying taxes, but I just don't see them going lower unless the Libs give us our SALT deductions back. My guess is if we can live another 20 years, we may have good cures for cancer. My windsurfing friends who've made it to 70 seem to have more money than they know what to do with so they buy a lot of new equipment.

To: w0z who wrote (12106)	10/13/2021 1:08:47 PM
From: Kirk ©	Respond to of 26930

2022 COLA is 5.9% What Mr. Biden and others don't tell us is the HUGE tax increase every year for those making just over the new taxable maximum... from $142,800 to $147,000, especially if you are self employed! . Cost-of-Living Adjustment (COLA) Information for 2022Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022. The 5.9 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2022. Increased payments to approximately 8 million SSI beneficiaries will begin on December 30, 2021. (Note: some people receive both Social Security and SSI benefits) Read more about the Social Security Cost-of-Living adjustment for 2022. The maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $147,000. The earnings limit for workers who are younger than "full" retirement age (see Full Retirement Age Chart) will increase to $19,560. (We deduct $1 from benefits for each $2 earned over $19,560.) The earnings limit for people reaching their “full” retirement age in 2022 will increase to $51,960. (We deduct $1 from benefits for each $3 earned over $51,960 until the month the worker turns “full” retirement age.) There is no limit on earnings for workers who are "full" retirement age or older for the entire year. Read more about the COLA, tax, benefit and earning amounts for 2022.