 |
Change of plans to get my 40 quarters?
05-10-2012, 02:33 AM
|
#1
|
|
Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 3,489
|
Change of plans to get my 40 quarters?
I have been planning to FIRE this summer, age 47. However, I have also realized that I do not have my 40 quarters yet, which prevents me from having SS benefits and Medicare (if still around when I need them).
Nonetheless, I will have my 40 quarters if I work until December 2012. Or I can work part time at a couple of clinics just to make sure I reach my 40 quarters. Question : should I stay at work for a few more months just to reach my full 10 years ?
I think I know the answer already... 
__________________
Not ER'd yet, 47 years old, about 98-99% cash, CDs, munis, sizeable nest egg, WR < 3.5%, pensions, annuities, no debt, and 48-year planning horizon. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
|
05-10-2012, 04:18 AM
|
#2
|
|
Moderator
Join Date: Jan 2008
Location: The northernmost tip of Latin America
Posts: 10,596
|
 Quote:
Originally Posted by obgyn65
I have been planning to FIRE this summer, age 47. However, I have also realized that I do not have my 40 quarters yet, which prevents me from having SS benefits and Medicare (if still around when I need them).
Nonetheless, I will have my 40 quarters if I work until December 2012. Or I can work part time at a couple of clinics just to make sure I reach my 40 quarters. Question : should I stay at work for a few more months just to reach my full 10 years ?
I think I know the answer already... |
Yes
__________________
It's not the cards you're dealt in life but what you do with them that matters
|
|
|
|
|
05-10-2012, 06:30 AM
|
#3
|
|
Thinks s/he gets paid by the post
Join Date: Mar 2005
Posts: 2,185
|
yes
__________________
FIRE'd since 2005
|
|
|
|
|
05-10-2012, 06:39 AM
|
#4
|
|
Recycles dryer sheets
Join Date: Jul 2002
Location: Erie
Posts: 178
|
See Quarter of Coverage
The SSA doesn't look at calendar quarters anymore. For a "quarter" (credit) in 2012, I believe one only has to earn at least $1130, four quarters would be $ 4520 earnings in 2012.
You may have 4 "quarters" already for 2012. Four is max quarters you can earn in one calendar year.
I'd double check with the SSA to be sure.
|
|
|
|
|
05-10-2012, 07:03 AM
|
#5
|
|
Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 2,749
|
Are you telling us you never had a job covered by SS until age 37? Not even as a teenager?
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
|
|
|
|
|
05-10-2012, 07:11 AM
|
#6
|
|
Moderator
Join Date: Jan 2008
Location: The northernmost tip of Latin America
Posts: 10,596
|
Quote:
Originally Posted by 2B
Are you telling us you never had a job covered by SS until age 37? Not even as a teenager?
|
I believe Oby did not grow up in the US but moved here as an adult.
__________________
It's not the cards you're dealt in life but what you do with them that matters
|
|
|
|
|
05-10-2012, 07:14 AM
|
#7
|
|
Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 3,489
|
Correct. I moved to the US about 10 years ago after qualifying. Passed my boards here though.
Quote:
|
Originally Posted by MichaelB
I believe Oby did not grow up in the US but moved here as an adult.
|
__________________
Not ER'd yet, 47 years old, about 98-99% cash, CDs, munis, sizeable nest egg, WR < 3.5%, pensions, annuities, no debt, and 48-year planning horizon. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
|
|
|
|
|
05-10-2012, 07:27 AM
|
#8
|
|
Moderator
Join Date: Jan 2008
Location: The northernmost tip of Latin America
Posts: 10,596
|
Quote:
Originally Posted by obgyn65
Passed my boards here though.
|
Never had the slightest doubt.
__________________
It's not the cards you're dealt in life but what you do with them that matters
|
|
|
|
|
05-10-2012, 07:58 AM
|
#9
|
|
Full time employment: Posting here.
Join Date: Jul 2007
Location: ST LOUIS
Posts: 654
|
I forget the exact amount but it is something like $4500. If you have made that much this year you have earned the four quarter already. You can go to the SS site and look up the exact amount but I am close.
__________________
Proverbs 15:22 Designs are brought to nothing where there is no counsel: but where there are many counsellors, they are established.
|
|
|
|
|
05-10-2012, 07:59 AM
|
#10
|
|
Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 2,749
|
Quote:
Originally Posted by obgyn65
Correct. I moved to the US about 10 years ago after qualifying. Passed my boards here though.
|
I don't know why I didn't think of that before I posted. My internest is from Vietnam. I went to a Czech dermatolagist. My last colonoscopy was done by a Korean immigrant. My wife has an Indian OBGyn. My dentist, although of Indian decent, was born and went to dental school in the US.
From my recent experiences, I'm not too sure that we even have medical schools in this country.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
|
|
|
|
|
05-10-2012, 08:02 AM
|
#11
|
|
Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 2,749
|
As for your 4 quarters, you can always do some part time doctoring if you accidently hang it up before getting the 4 quarters. The income level required is pretty low to qualify for a "quarter."
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
|
|
|
|
|
05-10-2012, 09:21 AM
|
#12
|
|
Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 1,980
|
Seems like the return for making sure you get the last needed quarters would be pretty high. Hopefully you already have them. I only bring up DW's retirement after her bonuses and option exercise "season" is over. No sense quitting a few weeks before that.
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
| Thread Tools |
Search this Thread |
|
|
|
| Display Modes |
 Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
