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I retired at 51!
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<blockquote data-quote="olroadbeech" data-source="post: 5398188" data-attributes="member: 52145"><p>yes. same with collecting a pension but after age 65 you can work all you want without penalty.</p><p></p><p>The nice thing about SS is the COLA increase every year. usually it's around 3%. At that rate your SS payment would double in 24 years ( rule of 72 )</p><p>Next year it is going up 8%. At this rate it would double in 9 years.</p><p></p><p>8% is nice but no way near a COLA increase which from my records is about 25% in the last year, 40% in the last 2 years on most goods. The G has a strange way of determining inflation. Only take into account certain goods and services.</p><p></p><p>Ask anyone who relies solely on SS and they will laugh at the COLA.</p><p></p><p>Wish the Teamster pension had a COLA. Maybe you guys can negotiate THAT in the next contract.</p><p>At the current rate of COLA for SS , our SS checks will be bigger than the pension in a couple years.</p></blockquote><p></p>
[QUOTE="olroadbeech, post: 5398188, member: 52145"] yes. same with collecting a pension but after age 65 you can work all you want without penalty. The nice thing about SS is the COLA increase every year. usually it's around 3%. At that rate your SS payment would double in 24 years ( rule of 72 ) Next year it is going up 8%. At this rate it would double in 9 years. 8% is nice but no way near a COLA increase which from my records is about 25% in the last year, 40% in the last 2 years on most goods. The G has a strange way of determining inflation. Only take into account certain goods and services. Ask anyone who relies solely on SS and they will laugh at the COLA. Wish the Teamster pension had a COLA. Maybe you guys can negotiate THAT in the next contract. At the current rate of COLA for SS , our SS checks will be bigger than the pension in a couple years. [/QUOTE]
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I retired at 51!
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