Nickrock Posted January 17, 2020 Share Posted January 17, 2020 2 hours ago, CalEden said: Just a thought maybe your wife has other plans closer to the present. If she does at least she will have a place to stay with no income 1 1 Link to comment Share on other sites More sharing options...
Yesitisdakid Posted January 18, 2020 Share Posted January 18, 2020 about 2 years for me best move I could have made 2 Link to comment Share on other sites More sharing options...
bob lt Posted January 18, 2020 Share Posted January 18, 2020 12 hours ago, Yesitisdakid said: about 2 years for me best move I could have made But you didn't work in the previous 8 years Link to comment Share on other sites More sharing options...
Yesitisdakid Posted January 18, 2020 Share Posted January 18, 2020 But you didn't work in the previous 8 years Yes but I got paid well :-) can't bullshit the man who brought it to townSent from my LG-H990 using Tapatalk 2 Link to comment Share on other sites More sharing options...
bob lt Posted January 18, 2020 Share Posted January 18, 2020 3 hours ago, Yesitisdakid said: Yes but I got paid well 🙂 can't bullshit the man who brought it to town Sent from my LG-H990 using Tapatalk And you offered excellent value for money 1 Link to comment Share on other sites More sharing options...
Yessongs Posted January 18, 2020 Share Posted January 18, 2020 4 years now for me, I like it, the freedom is certainly nice to do what you want, when you want. I do feel physically better not having to do the day to day grind in the corporate world anymore. But.....I do have to admit, there are times when I actually miss work. It was always a challenge for me to work with others, see if we can put our heads together and continue to work on goals and objectives. Financially I will be OK, be smart with your money, have some fun, but be naughty at times too and spend it foolishly as long as you know your limits right? I cannot imagine being this age and having to worry about money, as in not even remotely having enough and worrying everyday about that. Sad, but I see guys my age who were just outright stupid and have no 401k at all. Being happy with who you are with is certainly important......so far so good on that too. Having the same goals/objectives certainly helps and with her "assets" we can have the luxury of living both in Thailand and the USA and can pick and choose makes life a bit easier too. I like Thailand too, but like it here also. Both places have advantages IMO. Will consider taking Social Security at age 65 in a few years....we'll see the pros and cons of that going forward. 3 1 Link to comment Share on other sites More sharing options...
jcolorado Posted January 18, 2020 Share Posted January 18, 2020 27 minutes ago, Yessongs said: Will consider taking Social Security at age 65 in a few years....we'll see the pros and cons of that going forward. I was fortunate to be able to wait until 70. Huge checks now coming in. Damn how can they afford that? 2 Link to comment Share on other sites More sharing options...
code_slayer_bkk Posted January 18, 2020 Share Posted January 18, 2020 2 hours ago, Yessongs said: Will consider taking Social Security at age 65 in a few years....we'll see the pros and cons of that going forward. I have given very little thought to that .... should I or shouldn't I ? I don't need the money ... than again - I worked for that money so I should take it ..... knowing me ... I will probably just blow it off .... 1 1 Link to comment Share on other sites More sharing options...
grayray Posted January 18, 2020 Share Posted January 18, 2020 12 minutes ago, code_slayer_bkk said: I have given very little thought to that .... should I or shouldn't I ? I don't need the money ... than again - I worked for that money so I should take it ..... knowing me ... I will probably just blow it off .... code, J you better hang on to it,cause in 20+ years Ziggy will be looking forward to a big wedding, regards grayray 2 Link to comment Share on other sites More sharing options...
Stillearly Posted January 18, 2020 Share Posted January 18, 2020 25 minutes ago, code_slayer_bkk said: I have given very little thought to that .... should I or shouldn't I ? I don't need the money ... than again - I worked for that money so I should take it ..... knowing me ... I will probably just blow it off .... Do you still have to pay into the US system even though you are living o'seas ? Link to comment Share on other sites More sharing options...
Yesitisdakid Posted January 19, 2020 Share Posted January 19, 2020 4 hours ago, code_slayer_bkk said: I have given very little thought to that .... should I or shouldn't I ? I don't need the money ... than again - I worked for that money so I should take it ..... knowing me ... I will probably just blow it off .... When you do decide to take it it's pretty easy to get here in Thailand took me 10 minutes online to apply no problem at all no forms to submit nobody to speak with pretty easy Link to comment Share on other sites More sharing options...
Thai Spice Posted January 19, 2020 Author Share Posted January 19, 2020 4 hours ago, code_slayer_bkk said: I have given very little thought to that .... should I or shouldn't I ? I don't need the money ... than again - I worked for that money so I should take it ..... knowing me ... I will probably just blow it off .... You paid in the system for it, so better claim it. I have (besides my French pension) a small pension from Belgium where I worked from 15 till 18 old. It's only 90 E per month but : - when I claimed it they did a "back pay" over 3 years, as I was entitled to claim it earlier - it is indexed - cherry on the cake, it pays a 150 e "holiday bonus" each year 😄😄😄 Was a bit of a hassle to claim it being overseas, but my brother (living there) did a bit of legwork and spend some time on the phone to sort it out. Link to comment Share on other sites More sharing options...
Nickrock Posted January 19, 2020 Share Posted January 19, 2020 You guys are lucky here if your out of the country for more than 3 months your super gets stopped ,we have data sharing through govt departments .for example your behind in your child support you get stopped at the border and held till you put all areas into their account or get held till official decides if you need to talk to a judge same with outstanding fines etc 1 Link to comment Share on other sites More sharing options...
Esco Posted January 19, 2020 Share Posted January 19, 2020 On 1/16/2020 at 7:17 PM, KhunDon said: @Thai Spice A great thread that I feel many on this forum can relate too. 👍 I’ve been lucky, as I retired young and had 20 years to get used to it, now that I’m 67. 😟 Luckily, finances aren’t something that we spend much time thinking about, as I’ve 3 good pensions You retired at 47 and have 3 good pensions? Interesting 🙂 Link to comment Share on other sites More sharing options...
code_slayer_bkk Posted January 19, 2020 Share Posted January 19, 2020 4 hours ago, Stillearly said: Do you still have to pay into the US system even though you are living o'seas ? Yes ... if you make over a certain amount of US dollars annually ... there is an exemption allowed for being an expat ... but, this exemption has seen many changes over the years .... I am not a tax guy so I don't know ..... the tax law is kinda complicated so I just have it done for me .... USA citizens have to file a personal tax return every year regardless of where you live in the world ... I don't know if you have to file your taxes annually after you retire? .... 1 Link to comment Share on other sites More sharing options...
code_slayer_bkk Posted January 19, 2020 Share Posted January 19, 2020 12 minutes ago, Nickrock said: You guys are lucky here if your out of the country for more than 3 months your super gets stopped ,we have data sharing through govt departments .for example your behind in your child support you get stopped at the border and held till you put all areas into their account or get held till official decides if you need to talk to a judge same with outstanding fines etc I knew a guy that was French that this happened to ...... Link to comment Share on other sites More sharing options...
code_slayer_bkk Posted January 19, 2020 Share Posted January 19, 2020 56 minutes ago, Yesitisdakid said: When you do decide to take it it's pretty easy to get here in Thailand took me 10 minutes online to apply no problem at all no forms to submit nobody to speak with pretty easy Do you have a www link you can share ? I should at least look at the details ..... Link to comment Share on other sites More sharing options...
forcebwithu Posted January 19, 2020 Share Posted January 19, 2020 4 hours ago, Stillearly said: Do you still have to pay into the US system even though you are living o'seas ? We still have to pay Soc Sec tax on any income earned world wide. We can claim a Foreign Earned Income Exemption to avoid federal tax on earned income up to a limit, currently set at $105,900. So that's a big plus. As for the question of when to start collecting your monthly payment, there are many individual factors that need to be considered. This article does a good job of explaining that decision process. Doing a break-even analysis and other ways to decide how soon to start The longer you can afford to wait—up to 70—the larger your monthly benefit will be. But delaying benefits doesn’t necessarily mean you’ll come out ahead overall. You'll also need to weigh in some other factors including your expected longevity, and whether you or your spouse plan to file for spousal benefits. You will also need to consider the tax, investment opportunity, and health coverage implications. Your Likely Longevity So much of our strategy on how to maximize Social Security retirement benefits depends on guesses of how long we’ll live. Of course, any of us could die in an accident or get a dire diagnosis next week. But putting aside these unpredictable possibilities, how long do you think you’ll live? How are your blood pressure, cholesterol, weight, and other health markers? How long have your parents and other relatives lived? If you foresee an above-average life expectancy for yourself, you may come out ahead by waiting to claim benefits. If not, you may want to claim your benefits as soon as you’re eligible. To make an educated guess about when to claim, try doing a break-even analysis. That will tell you when the total benefits you'd receive by waiting will begin to exceed the total you'd receive by taking benefits earlier. For example, if you'd get $1,500 a month starting at age 62 or $2,000 a month starting at age 66 you will have received roughly the same amount in total benefits by age 77 or so. At that point, the higher monthly benefits you'd get as a result of waiting will begin to pay off. 2 1 Link to comment Share on other sites More sharing options...
Thai Spice Posted January 19, 2020 Author Share Posted January 19, 2020 (edited) 30 minutes ago, forcebwithu said: We still have to pay Soc Sec tax on any income earned world wide. We can claim a Foreign Earned Income Exemption to avoid federal tax on earned income up to a limit, currently set at $105,900. So that's a big plus. As for the question of when to start collecting your monthly payment, there are many individual factors that need to be considered. This article does a good job of explaining that decision process. Doing a break-even analysis and other ways to decide how soon to start The longer you can afford to wait—up to 70—the larger your monthly benefit will be. But delaying benefits doesn’t necessarily mean you’ll come out ahead overall. You'll also need to weigh in some other factors including your expected longevity, and whether you or your spouse plan to file for spousal benefits. You will also need to consider the tax, investment opportunity, and health coverage implications. Your Likely Longevity So much of our strategy on how to maximize Social Security retirement benefits depends on guesses of how long we’ll live. Of course, any of us could die in an accident or get a dire diagnosis next week. But putting aside these unpredictable possibilities, how long do you think you’ll live? How are your blood pressure, cholesterol, weight, and other health markers? How long have your parents and other relatives lived? If you foresee an above-average life expectancy for yourself, you may come out ahead by waiting to claim benefits. If not, you may want to claim your benefits as soon as you’re eligible. To make an educated guess about when to claim, try doing a break-even analysis. That will tell you when the total benefits you'd receive by waiting will begin to exceed the total you'd receive by taking benefits earlier. For example, if you'd get $1,500 a month starting at age 62 or $2,000 a month starting at age 66 you will have received roughly the same amount in total benefits by age 77 or so. At that point, the higher monthly benefits you'd get as a result of waiting will begin to pay off. Have you followed Eyenitnoi's "prepare your retirement" seminar ? Joking ! Interesting point of view, but honesly I never calculated that deep. When I knew I was eligible I took my official French retirement (60) and my pension kicked in. I then continued to work freelance for 3 y in HKG, till one day I decided that I had enough of the HKG lifestyle and I stopped for good. Edited January 19, 2020 by Thai Spice 1 Link to comment Share on other sites More sharing options...
Yesitisdakid Posted January 19, 2020 Share Posted January 19, 2020 Do you have a www link you can share ? I should at least look at the details .....https://www.ssa.gov/benefits/forms/Sent from my LG-H990 using Tapatalk Link to comment Share on other sites More sharing options...
Yesitisdakid Posted January 19, 2020 Share Posted January 19, 2020 (edited) 2 hours ago, Thai Spice said: Was a bit of a hassle to claim it being overseas, but my brother (living there) did a bit of legwork and spend some time on the phone to sort it out. I couldn't believe how easy it was to collect my US Social Security I thought for sure I would have to talk to somebody or produce some sort of documents nope they asked me a couple of questions only I could know like which one was by last home address and they offered me a choice of 4. And a couple of other questions like I say that I would only have the answer to. Then they gave me the date my first automatic deposit into my bank account would take place and it did and it has been doing so for the last 15 months. I'm not one to say the US is better than the UK or better than France but I will say that they do take care of their citizens. Edited January 19, 2020 by Yesitisdakid 1 Link to comment Share on other sites More sharing options...
Thai Spice Posted January 19, 2020 Author Share Posted January 19, 2020 26 minutes ago, Yesitisdakid said: I couldn't believe how easy it was to collect my US Social Security I thought for sure I would have to talk to somebody or produce some sort of documents nope they asked me a couple of questions only I could know like which one was by last home address and they offered me a choice of 4. And a couple of other questions like I say that I would only have the answer to. Then they gave me the date my first automatic deposit into my bank account would take place and it did and it has been doing so for the last 15 months. I'm not one to say the US is better than the UK or better than France but I will say that they do take care of their citizens. For the Belgian thing, my problem.was that to register with their online system you need a kind of national nr (not ID card nr, not Soc Sec nr) that I think was instaured long after I left, and it seems there is no way to get if not in the country. Hence I asked my brother to help me the old fashioned way. The France one was easier although I had to send in a certain number of documents. The US system is a bit confusing for me, I hear / read people speaking about government pension, 401K, etc....Never really looked into it to understand it. Link to comment Share on other sites More sharing options...
thegrogmonster Posted January 19, 2020 Share Posted January 19, 2020 I worked in the UK for 2 years paying National Insurance so would this entitle me to anything? Link to comment Share on other sites More sharing options...
grayray Posted January 19, 2020 Share Posted January 19, 2020 (edited) 25 minutes ago, thegrogmonster said: I worked in the UK for 2 years paying National Insurance so would this entitle me to anything? doubt if it will even get a thank you, for the tax you paid regards grayray Edited January 19, 2020 by grayray 1 Link to comment Share on other sites More sharing options...
code_slayer_bkk Posted January 19, 2020 Share Posted January 19, 2020 1 hour ago, Yesitisdakid said: https://www.ssa.gov/benefits/forms/ Sent from my LG-H990 using Tapatalk Sincere Thanks ..... Link to comment Share on other sites More sharing options...
Recommended Posts