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Search: Posts Made By: rothlev
Forum: FIRE and Money 11-22-2020, 02:55 PM
Replies: 55
Views: 6,248
Posted By rothlev
60% of teachers do pay into social security, and...

60% of teachers do pay into social security, and thus get full social security and their pension. 40% do not. It depends on the state, and the district. Illinois teachers do not pay in social...
Forum: FIRE and Money 11-21-2020, 04:53 PM
Replies: 119
Views: 7,283
Posted By rothlev
Federal Civil service does not do 100% either. I...

Federal Civil service does not do 100% either. I think it is in the ballpark of 55% or so, based on the unreduced pension amount. Should I go first DH gets a 10% raise as he no longer has to cover...
Forum: FIRE and Money 11-09-2020, 11:22 AM
Replies: 55
Views: 6,248
Posted By rothlev
In general states change the pension going...

In general states change the pension going forward not backwards. They honor the contract they have made with their retirees. (ie). Florida has discontinued the 3% cola going forward, as of 2011)....
Forum: FIRE and Money 11-09-2020, 05:43 AM
Replies: 55
Views: 6,248
Posted By rothlev
me: pension 16k, DH pension 60k, me projected...

me: pension 16k, DH pension 60k, me projected social security 28k ( if I take it now ) it isn't living high , but plenty of income for travel , car replacement, and whatever else we want to do. ...
Forum: FIRE and Money 11-09-2020, 05:27 AM
Replies: 55
Views: 6,248
Posted By rothlev
Speaking for myself, I am a retired teacher who...

Speaking for myself, I am a retired teacher who took early retirement. I took a significant hit on my pension to retire when I did. He is civil service retirement. so two pensions, one social...
Forum: FIRE and Money 10-25-2020, 12:49 PM
Replies: 49
Views: 3,246
Posted By rothlev
see if she qualifies for any type of assistance,...

see if she qualifies for any type of assistance, whether she needs it badly or not. (eg. bathing ). once she starts using the policy at least from my understanding she doesn't have to pay premiums...
Forum: FIRE and Money 10-09-2020, 10:08 AM
Replies: 88
Views: 10,257
Posted By rothlev
Most

Most
Forum: FIRE and Money 10-05-2020, 08:49 AM
Replies: 23
Views: 1,604
Posted By rothlev
It is probably true, do not pay the middle man...

It is probably true, do not pay the middle man thou. I got one of those letters about a property tax refund that I knew about and was in process of collecting myself. They do look for these...
Forum: Life after FIRE 09-26-2020, 04:48 AM
Replies: 9
Views: 498
Posted By rothlev
You can claim under your own record if you have...

You can claim under your own record if you have 10 years wherein you paid into social security. This benefit will be reduced by the GPO. So, you will normally , if you only paid in 10 years,...
Forum: FIRE and Money 09-26-2020, 04:29 AM
Replies: 14
Views: 1,786
Posted By rothlev
Correct -- when you cover a survivor on a civil...

Correct -- when you cover a survivor on a civil service pension you take a reduction in benefits in order to do so. However when that spouse passes you no longer take that reduction, and get a raise...
Forum: FIRE and Money 09-23-2020, 06:13 PM
Replies: 14
Views: 1,786
Posted By rothlev
my husband is retired civil service his civil...

my husband is retired civil service his civil service career did not pay into social security thus ( his social security is impacted by the WEP and GPO ), however my social security and my benefit...
Forum: FIRE and Money 09-22-2020, 06:48 AM
Replies: 14
Views: 1,786
Posted By rothlev
WEP does not apply at all if you have 30 years or...

WEP does not apply at all if you have 30 years or more of earned income where you paid in social security, nor does it apply to survivor benefits.

Social Security years of substantial earnings
If...
Forum: FIRE and Money 09-21-2020, 08:33 AM
Replies: 14
Views: 1,786
Posted By rothlev
She is not subject to government pension offset. ...

She is not subject to government pension offset. (GPO). You are. So no, no affect on her whatsoever.
Forum: FIRE and Money 09-07-2020, 12:49 PM
Replies: 38
Views: 3,569
Posted By rothlev
From which one can deduce that the average income...

From which one can deduce that the average income levels are skewed lower than they would be if this group was included in the survey.
Forum: FIRE and Money 08-13-2020, 06:04 AM
Replies: 8
Views: 957
Posted By rothlev
she might be able to file a restricted...

she might be able to file a restricted application and collect 1/2 of your social security , ( until she starts the pension ). ( I don't think the GPO kicks in unless she is collecting the pension...
Forum: FIRE and Money 08-10-2020, 07:14 AM
Replies: 14
Views: 961
Posted By rothlev
your taxable income is figured after your...

your taxable income is figured after your standard or itemized deduction. which if you are single is 12,400, so AGI is 40k taxable income is 27,600. which is in the 12% bracket. so 0 tax on the...
Forum: FIRE and Money 08-10-2020, 06:28 AM
Replies: 14
Views: 961
Posted By rothlev
in your example with no other income, there would...

in your example with no other income, there would be a tax of 0
Forum: FIRE and Money 08-10-2020, 06:27 AM
Replies: 14
Views: 961
Posted By rothlev
Correct you will pay tax on the gain, at long...

Correct you will pay tax on the gain, at long term capital gains rates as you have held for more than a year. Long term is a lower tax rate than ordinary income, if you stay in the 15% bracket you...
Forum: FIRE and Money 07-30-2020, 03:24 AM
Replies: 17
Views: 477
Posted By rothlev
for passive income, not for earned income - so...

for passive income, not for earned income - so most dependent college students still do not pay any income taxes
Forum: FIRE and Money 07-29-2020, 03:56 PM
Replies: 17
Views: 477
Posted By rothlev
Full time students who are not self supporting...

Full time students who are not self supporting from the age of 18 - 24 are dependents on their parents tax returns. This generally has no negative ramifications on their own return. If the parents...
Forum: FIRE and Money 07-28-2020, 04:07 PM
Replies: 51
Views: 4,844
Posted By rothlev
seriously, you cannot tell that these numbers are...

seriously, you cannot tell that these numbers are astronomically high for some of us that live in the real world.
Forum: FIRE and Money 07-05-2020, 01:16 PM
Replies: 93
Views: 4,743
Posted By rothlev
I think she was giving partial answers in order...

I think she was giving partial answers in order to NOT be adversarial, as she may not have had time to pull all that together and did not want to ignore the inquiry. OK - ? possible?
Forum: FIRE and Money 07-05-2020, 01:03 PM
Replies: 93
Views: 4,743
Posted By rothlev
"The OP waited 10 years so I think they are...

"The OP waited 10 years so I think they are pretty patient already."

Absolutely , she should have spoken up sooner. water under the bridge, but now is when she decided she wanted out , in the...
Forum: FIRE and Money 07-05-2020, 12:45 PM
Replies: 93
Views: 4,743
Posted By rothlev
yes, her son got a cut rate place to live. Is...

yes, her son got a cut rate place to live. Is that worth a family feud? It was a family member. She wasn't collecting rent and pocketing money. You could state a case that sister owes her...
Forum: FIRE and Money 07-05-2020, 12:39 PM
Replies: 93
Views: 4,743
Posted By rothlev
#1

#1
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