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Home > Archive: June, 2019

Archive for June, 2019

99 bottles of beer on the wall....

June 9th, 2019 at 07:05 am

... 99 bottles of beer (and so on - most certainly won't continue with that ditty). Anywho, in my never ending search for ways to count down how long it is until I can retire, I have a new one now. 99. That is 99 more pay periods until I hit my first day I could do full retirement with no discount on the payout (a discounted pension would be called early retirement which I can do starting in 16 months). Pay period is two weeks so I still have some years to go, but I know its really out there.

You do what you gotta do to make it work. This is my crazy way.

On a similar note, I checked on the Social Security site my recorded earnings that I paid into the system. If you don't know, SSI is based on your life time earnings that had SS taxes taken on them. They determine your benefit based on the average indexed amount. This is put in a formula that has two "bend" points. I was able to determine I am already past the second bend point. So what does that mean for me? Any extra work only adds a very minor extra to my SSI amount. So currently I have enough in the system to get a little over $2,400/mo. starting at 67. If I work my expected 3 yrs / 10 mo. more I would get an extra $200/mo. Bleah. The amount you get after that second bend point is so small that, while nice, is really not worth it (on its own).

Like I told my buddy at work, it seems like I am only working for the health insurance any more. Ugh.