Social Security

12 Facts About Social Security You Didn't Know

By: Matthew Frankel

Social Security is the major source of income for many elderly Americans, as well as for millions of dependents, disabled workers, and survivors. Despite the enormity of the program, there is a lot about Social Security that isn't well understood by many Americans, especially by those who aren't yet collecting benefits. With that in mind, here are 12 facts about the Social Security program that all American workers and retirees should be aware of.

1. Social Security is more than just retirement benefits

When many Americans think of Social Security, they only think of the retirement benefits that are paid to most senior citizens. However, there's a lot more to Social Security, and retirement benefits account for less than three-fourths of benefits paid. In addition to retirement benefits, Social Security also pays disability benefits, benefits to dependents of retired or disabled workers, and benefits to survivors of deceased workers.

Image source: Getty Images.

2. Nearly $1 trillion in Social Security benefits will be paid out in 2017

According to the Social Security Administration (SSA), nearly 62 million Americans will receive Social Security benefits in 2017, totaling $955 billion. Forty-two million of those Americans will be retired workers, and their average monthly benefit is $1,369.

3. You only pay half of your Social Security tax

You might be surprised to learn that the Social Security payroll tax rate is a seemingly high 12.4% on the first $127,200 of wage income. However, employees only pay half of this amount. The Social Security payroll tax that comes out of your paycheck only represents a 6.2% tax rate.

4. Social Security isn't broke -- not even close

Don't believe headlines that tell you that Social Security is broke, insolvent, or "was raided by the government." None of these is true. In fact, Social Security ended 2016 with $2.85 trillion in reserves and ran a surplus for the year. What's more, the reserves are expected to keep growing for the next few years. It's true that the program is expected to start running a deficit in 2022 and to run out of reserves in 2034. The point, however, is that the situation isn't nearly as dire as many would have you believe.

5. Billionaires receive Social Security benefits, too

Social Security is currently not means-tested, which means that Americans who have paid into the system enough to qualify for benefits can get them regardless of whether they need them or not. Even billionaires can receive Social Security retirement benefits.

6. Social Security is designed to replace 40% of the average American worker's income

Social Security benefits are intended to replace 40% of the average worker's preretirement income. This percentage is generally higher for lower-income workers, and is lower for higher-income workers. Experts generally suggest that you'll need about 80% of your preretirement income to maintain your standard of living after retirement, so this means that roughly half of the average American's retirement income will need to come from other sources.

7. Most seniors rely on Social Security for more than half of their income

Despite the 40% intention, more than six-in-ten Social Security beneficiaries rely on their benefits for more than half of their income. One-third of beneficiaries rely on Social Security for substantially all of their income. This means that many Americans don't have enough in savings to produce enough income to sustain their lifestyles after retiring.

8. Social Security is weighted in favor of lower-income workers

When computing your Social Security benefit, your 35 highest-earning years (up to each year's taxable maximum) are adjusted for inflation and averaged together. What many people don't realize is that this average is then applied to a formula that disproportionally benefits low-income workers. As of 2017, the Social Security formula is:

• 90% of the first $885 in average monthly earnings
• 32% of the amount between $885 and $5,336
• 15% of the amount above $5,336

9. Social Security is paid after it's due

Social Security benefits are paid in the month after they are due. In other words, your July Social Security benefit will be paid in August. This can be important when deciding when you want to start your Social Security benefits. In other words, if you want to receive your first benefit check in December 2017, you should tell the SSA to start your benefits in November.

10. If you didn't work but your spouse did, you can still qualify for benefits

There's a Social Security provision known as spousal benefits, which is intended to provide retirement income to spouses who either didn't work or earned much less than their spouse. Simply put, spousal benefits can give individuals who qualify a retirement benefit of as much as one-half of the higher-earning spouse's, even if their own record doesn't justify such a benefit.

11. If you change your mind after you apply, you may be able to get a do-over

If you claim Social Security but later decide that you started benefits too early, there may be a way to get a do-over. First, if you applied within the past year, you can simply cancel your application, repay any benefits you've received, and it will be like you never applied at all. Or if you're past full retirement age, you have the ability to suspend your benefits and allow your future monthly checks to grow.

12. You may have to pay taxes on your benefits

Depending on how much other retirement income you have, up to 85% of your Social Security benefits can be considered taxable income. You can read about the formula the IRS uses elsewhere, but the general idea is that if Social Security is your only source of retirement income, you probably won't be taxed on your benefits. However, if you have significant income from a pension, 401(k), or other sources, you could end up paying federal tax on your Social Security. In addition, 13 states tax Social Security benefits in addition to any federal tax you may have to pay.

The more you know, the better equipped you'll be to make smart decisions

The bottom line is that since you're most likely going to rely on Social Security for a significant portion of your income in retirement, it's a good idea to know the basics of how the program works. This will not only let you know what to expect, but can help you make smart financial decisions for you and your family when it comes to your Social Security planning.

The $16,122 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,122 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after.


https://www.fool.com/ext-content/12-facts-about-social-security-you-didnt-know/832/?utm_source=aol&utm_medium=contentmarketing&utm_campaign=ryr-7sschanges2018&psource=erraol7410000021&wsource=erraolwdg0000023&paid=8727&waid=8727

Untapped-poem by Ashlee Haze

#Untapped#Ashlee Haze#Talented

Thanksgiving Gravy

 

The flavor base of this gravy comes from the turkey neck, carrots, onion, and celery that have roasted beneath the bird, slowly browning and absorbing the turkey drippings. White wine rounds out the flavors, and all-purpose flour provides the thickening.

Thanksgiving Dressing

What You'll Need

There is no one right recipe for stuffing, turkey's perennial partner, just a general formula: Mix a dry base such as day-old bread with sauteed vegetables, meat (if you like), herbs, and seasonings; then add a binder such as stock or eggs, and gently toss. Tailor stuffing to your family and friends' palates to make it irresistible.

1 one-pound loaf of bread set out overnight (or 1 1/2 pounds cornbread)
4 cups (2 pounds) chopped vegetables
1 cup fresh herbs, predominantly parsley, sage, and thyme
2 cups or less liquid (or 3 eggs)
1 pound meat
Butter and/or olive oil
3 tablespoons seasoning

Xmas Events

 

Carols in the Park

Xmas Luncheon

Unity Cruise 2013

 Dominican Republic

 Curasao

 Aruba

 Spanish Buffet

 Towel Bed Puppet

Weekends

 

 

 

My Weekends

Prayer Breakfast

Health Walk

Birthday

                              

Did You Know?

Valentines's Day

 

 



 

 

Valentine's Day is celebrated February in the United States and in other places around the world, candy, flowers and gifts are exchanged beween loved one, all in the name of St.Valentine.

Who is this mysterious saint and where did these traditions come from?

Find out about the history with me in the upcoming weeks.

 



Consulting Party

Tropical Storm Debby

A look at tropical storm from 3 stories up.

Holidays

Memorial  Day is to remember our soldiers and all they gave up in battle for us. Listening to all of the ceremonies on TV put me in a mode of some relaxing time for myself. So, since it was a three day weekend from work I decided to attended the beaches and ride US 1. Observing the waters and the boaters, thinking of the distance the oceans travel from one side of the world to the other.

While on that side of the coast, decided to stop and visit some relatives. They were having a family barbeque celebrating a house warming and an engagement. The wedding is scheduled for next month and will be a beach wedding: colors are coral and beige     , invitations were  a message in a bottle. 

Vision of a wedding on the beach with coral colors seem to cause my mind to drift even more. All the gifts God has bestowed upon all of us are a wonder.   

Tips On Saving Gas

Tips On Saving Gas

Some tips on saving gas and what gas stations not to get gas from because they support middle east oil L

For what its worth, with gas as high as it is now if just one of these tips below is true it might help to do it.

TIPS ON PUMPING GAS

I don't know what you guys are paying for gasoline.... but here in California we are also paying higher, up to $3.50 per gallon. But my line of work is in petroleum for about 31 years now, so here are some tricks to get more of your money's worth for every gallon..

Here at the Kinder Morgan Pipeline where I work in San Jose , CA we deliver about 4 million gallons in a 24-hour period thru the pipeline. One day is diesel the next day is jet fuel, and gasoline, regular and premium grades. We have 34-storage tanks here with a total capacity of 16,800,000 gallons.

Only buy or fill up your car or truck in the early morning when the ground temperature is still cold. Remember that all service stations have their storage tanks buried below ground. The colder the ground the more dense the gasoline, when it gets warmer gasoline expands, so buying in the afternoon or in the evening....your gallon is not exactly a gallon In the petroleum business, the specific gravity and the temperature of the gasoline, diesel and jet fuel, ethanol and other petroleum products plays an important role.

A 1-degree rise in temperature is a big deal for this business. But the service stations do not have temperature compensation at the pumps.

When you're filling up do not squeeze the trigger of the nozzle to a fast mode. If you look you will see that the trigger has three (3)stages: low, middle, and high. In slow mode you should be pumping on low speed, thereby minimizing the vapors that are created while you are pumping. All hoses at the pump have a vapor return. If you are pumping on the fast rate, some other liquid that goes to your tank becomes vapor. Those vapors are being sucked up and back into the underground storage tank so you're getting less worth for your money.

One of the most important tips is to fill up when your gas tank is HALF FULL or HALF EMPTY. The reason for this is, the more gas you have in your tank the less air occupying its empty space. Gasoline evaporates faster than you can imagine. Gasoline storage tanks have an internal floating roof. This roof serves as zero clearance between the gas and the atmosphere, so it minimizes the evaporation. Unlike service stations, here where I work, every truck that we load is temperature compensated so that every gallon is actually the exact amount.

Another reminder, if there is a gasoline truck pumping into the storage tanks when you stop to buy gas, DO NOT fill up--most likely the gasoline is being stirred up as the gas is being delivered, and you might pick up some of the dirt that normally settles on the bottom. Hope this will help you get the most value for your money.

DO SHARE THESE TIPS WITH OTHERS!

WHERE TO BUY USA GAS, THIS IS VERY IMPORTANT TO KNOW. READ ON

Gas rationing in the 80's worked even though we grumbled about it. It might even be good for us! The Saudis are boycotting American goods. We should return the favor.

An interesting thought is to boycott their GAS.

Every time you fill up the car, you can avoid putting more money into the coffers of Saudi Arabia . Just buy from gas companies that don't import their oil from the Saudis.

Nothing is more frustrating than the feeling that every time I fill-up the tank, I am sending my money to people who are trying to kill me, my family, and my friends

I thought it might be interesting for you to know which oil companies are the best to buy gas from and which major companies import Middle Eastern oil.

These companies import Middle Eastern oil:

Shell.......................... 205,742,000 barrels

Chevron/Texaco......... 144,332,000 barrels

Exxon /Mobil................ 130,082,000 barrels

Marathon/Speedway.. 117,740,000 barrels

Amoco............................62,231,000 barrels

Citgo gas is from South America, from a Dictator who hates Americans. If you do the math at $30/barrel, these imports amount to over $18 BILLION! (oil is now $90 - $100 a barrel

Here are some large companies that do not import Middle Eastern oil:

Sunoco..................0 barrels

Conoco...................0 barrels

Sinclair.................0 barrels

B P/Phillips...........0 barrels

Hess......................0 barrels

ARC0....................0 barrels

If you go to Sunoco.com, you will get a list of the station locations near you.

All of this information is available from the Department of Energy and each is required to state where they get their oil and how much they are importing.

But to have an impact, we need to reach literally millions of gas
buyers. It's really simple to do.

5 Ideas For CD's

New Uses For Everyday Things: 5 Ideas For CDs

Posted: 02/28/12 02:54 PM ET | Updated: 02/28/12 02:54 PM ET

Is your copy of Dave Matthews Band's Under The Table And Dreaming scratched to the point that it will not play ever again (not that it's a bad thing)? Did you windup with your ex's copy of 'Boondock Saints'? What about all those outdated copies of Macintosh System 8, or those CD-Rs which didn't burn right?

Flickr photo by TR HaunInstead of putting these compact discs in the trash, there are a lot of ways you can repurpose them around the house. Need some ideas? Here are a few of my favorites.
Scaring Birds
Contrary to what Disney World's Enchanted Tiki Room wants you to believe, sometimes you do not want to be bothered by birds in your backyard, as they might wind up feasting on your plants. Try hanging the compact discs in your tree branches. The discs reflect the light, which is enough to make the birds not want to hang out in the tree. This trick is also useful for those with sliding glass doors (and the birds who love to fly into them).
Coasters
Compact discs that you really enjoyed but since converted over to mp3 format can make an interesting coaster. Glue felt to the bottom of the disc with the album art facing up. Trim the excess felt around the rim and you're all set. Whether its a video game, a DVD, or U2's Achtung Baby its sure to make a conversation piece.
Kitchen Scrapers
Need something to scrape out food that's been fused to a bake dish? An old compact disc to the rescue. Using a pair of scissors, cut the disc in half. You can use it as a scraper to clean out the gunk. Best of all, you can just toss it out when your done with it.
Furniture Pad
Instead of going to the store to buy what is essentially a coaster to put under your furniture legs, use a compact disc. It won't leave the indentation mark on your carpet.
Painter's Palette
Did you know that a small painter's palette will cost you at least $6? Save some money and just use an old compact disc. It fits in your hand and is great for mixing oil paints. Also, the hole in the disc makes it easy to hold on to.

What's on your mind for Spring?

Spring Wear

                            

Spring is near

What’s on your mind for Spring?

Traveling

 London, England

      

        Sonoma, California -300-plus wineries,

Pittsburgh

Fifty and Fabulous!!!!!

Thrift Store Shopping

Stylelist Home  |  By Brie Dyas  |  Become a fan  |  Posted: 1/19/12 08:56 AM ET  |  Updated: 1/20/12 10:58 AM ET

If you want to get an extreme reaction from someone, mention thrift shopping. You'll either get a "I would never do that!" or an "OMG! I love thrifting!" There seems to be very little in-between.
Case in point: That article we ran a few weeks ago about upholstery expert Shelly Leer's studio, which was primarily furnished using finds from Goodwill. Half of you expressed, shall we say, hesitation at shopping secondhand, while the other half expounded on the great deals they've found over the years.
If you're in the former group, we'd like to (attempt to) change your mind about thrift shopping. The fact is, we all would like to save money, especially when it comes to home items. Furniture, tableware and accessories can be staggeringly overpriced and/or shoddily constructed. Visiting a thrift store can yield genuinely high-quality items that have withstood the test of time for far, far less than you'd get retail, on ebay and especially on etsy.
The catch? You'll have to go to a thrift store to find those bargains. To make the search easier, here are some tried-and-true tips that we use when shopping secondhand to great results.
Thrifting secret #1: Shop in the suburbs. Actually, shop near "Grandma neighborhoods." You know, the places that were happening for families in 1970. City thrift stores are little more than IKEA outlets. By shopping in "Grandma neighborhoods," you're more likely to come across genuine old-school furniture of a higher caliber. Plus, there's less competition for the goods.
Thrifting secret #2: Watch for discount days. Goodwill stores usually have a "color of the day" deal, where certain price tags automatically get a 50% discount.
Thrifting secret #3: Don't go near anything upholstered. It's tempting, but it's too risky in the era of bed bugs. Stick to wood furniture, which can be thoroughly cleaned and more easily scrutinized. Disinfect everything. Plus, wood furniture can be refinished or repainted.
Thrifting secret #3a: Look for dovetailing. This is an easy way to tell if the wood dresser you're considering is of a higher quality. Simply take out a drawer and see if it has dovetailing. This type of joinery is hard to replicate on a mass scale, indicating that some level of craftsmanship was involved in the production.
Thrifting secret #4: Go early. This is doubly true on weekends, when bargain hunters are out in full force. While most thrift stores restock during the day, you're guaranteed a fresh selection of merchandise when you arrive right when the shop opens.
Thrifting secret #5: Look in the kitchen section. This is, hands-down, my favorite tip. There are more genuine vintage sets of china lingering in the aisles of thrift stores than there are bridal registries in America. They usually cost less than what you'd pay for a single tea cup in a new set.
Thrifting secret #6: Be realistic. This is coming from an editor who is practically steeped in DIY: You probably won't restore a seriously down-at-its-heels piece of furniture. Similarly, you definitely won't sell that ugly but vintage midcentury modern decorative vase on eBay. Who has the time?
With these tips, you'll be ready to compete with, well…me…over the best that your thrift stores can offer. And if you're still turned off to the idea, what can I say? More for the rest of us.

Sema Show

My son visited Los Vegas, Neveda.

                  Mercedes                                    Mini Cooper

 
               Dodge Charger                                  1932 Ford

1927 Duesenberg

Hunting Season

My Brothers Hunting

                               
                        Tree Stand                                        Snake Boot      



Happy New Year!

Be Blessed!!!!!