Hi John, The only thing that saved me is that I waited until what they consider my full retirement age. Otherwise, if I'd retired early, I'd lose (I think it is) $1.00 SS for every $2.00 over that I made. I didn't really plan it this way but it's the way it's turned out and I plan on enjoying it! :-) Avery At 05:46 PM 3/11/05, you wrote: >You are lucky, saying you can make as much as you want, now. >Over roughly 30K, I have to pay 42% income tax, instead of 26%. >If I make, I think it is 56K, they start clawing back my Old Age Pension, >which I think is the same as your Social Security. >So I am in the enviable/unenviable position of being screwed for any extra >I make. >Only in Canada, they say. :-) >John M. Ross >Windsor, Nova Scotia, Canada >jrpiano@win.eastlink.ca >----- Original Message ----- From: "Avery Todd" <avery1@houston.rr.com> >To: "pianotech" <pianotech@ptg.org> >Sent: Friday, March 11, 2005 6:02 PM >Subject: Looming Retirement > > >>List, >> >>Well, everybody, believe it or not, I've reached my FULL retirement age, >>65 + 4 months as of the 12th of March, to start collecting my full Social >>Security benefits. The great thing about it is that now, since I waited >>for that, I can make as much as I want to without any penalties! That >>means that I can keep working full-time, plus any outside work, and I >>won't have any deducted from my SS check. >> >>I went in yesterday morning to do the applying thing and found out that I >>will get a full March check the 3rd Wed. of April, because I'm eligible >>as of the month I reach full retirement age! >> >>I also found out the other day that because the school now has what is >>called "the rule of 80", I'm only going to HAVE to work 2 more years to >>get my full retirement from the Teacher Retirement plan. Rule of 80 is >>your age plus the number of years of service have to add up to 80. I >>found out today that they figure it based on your employment date, so I >>should be able to retire, if I want to, in 2 yrs. this month. Of course, >>they figure it on a certain percentage, based on how many yrs. of >>service, so the more years I actually work, the higher that percentage will be. >> >>Just thought I'd share the wonder that I made it this long! :-) >> >>Regards, >>Avery >> >>_______________________________________________ >>pianotech list info: https://www.moypiano.com/resources/#archives > > >_______________________________________________ >pianotech list info: https://www.moypiano.com/resources/#archives
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