Monday, October 17, 2005

Here it is another day. Another day another dollar. Used to say that years back before I retired. Now it is another year, hopefully another raise.
I remember one year when instead of getting more money in my SS check, I actually got less money after the yearly raise. They raised the cost of Medicare more than the amt. of the raise-- so I actually ended up with a lower check all that year. Walts check had the raise, but lowering mine offset his raise. I remember how I always read the SS book to read that in the event you lost your mate, you got just -think it was 2/3rds or might have been 1/2 of his check minus the decreases if either or both of you went on early-before age 65. I used to wonder how I would ever manage on just 2/3rds of what he was getting. So I started to save as much of my own check for security reasons. Then what my Dad always told me back in the early 70`s rang like a constant bell in my head. He told me Walt and I needed to have at least 25,000$ in the bank before retiring. Boy, he sure wouldn`t think that amt would last long if he saw prices today. But, we started saving. Then the Ciba Geiga plant closed down and we ended up using every cent of our savings to pay bills till Walt was old enough to start drawing SS. Noone wants to hire a person who only has a couple years left before they can draw Social Security. So, we were broke by the time he was elligable and he went on early. Then When I was old enough I started drawing. His checks paid the bills, mine was used for any big things we needed over the years- such as the new freezer and heating furnace, etc. On months when we didn`t need all my check, I started a savings . Back then the Bank paid good interest, but the past few years interest has gone down drastically. Walt also had his Pensions from the plant for 37 years he worked there. That plant was first called Imperial and made wallpaper, then it was bought out by Hercules and started making car paint etc. Next Ciba Geigy bought out Hercules and Walt continued to make car paint. He always felt that was what caused his Emphasema as many of the other workers had the same thing shortly after retiring, or in Walts case shortly after the plant closed and headed South. Those two pensions ( he lacked about 3 months to be elligible from Imperial) kept our heads above water. Today, I was surprised to see that things had changed and I ended up droping my check and receiving the same amount as Walts SS Check, plus he had reduced his pension checks so if anything happened to him I would continue to receive both Pensions in the same amt. I will always be glad I listened to my Dad and started my saving account. But, I have noticed one thing. While the gov. says you need to save for your own future, it doesn`t tell you that they consider any saving you might have gone without to keep will determine how much if any help you deserve from the gov.. Have a bro that lives almost as well as I do even though he gets less SS.. He gets his meds paid for, heap for his fuel, food stamps, his medicare paid for, and I forget what else. When he started to complain about what little he had to live on, I told him to add in everything he gets free that the rest of us are paying for, and he ends up just as well of. Plus he lives free in our Familys home- Mothers savings has always paid the Taxes and House ins, plus a bro gave him his car and he pays for the Ins on it. So, in all he probably is better off than the rest of us if everything was added up that we pay and he gets free. . I`m a bit better off than one sister as she pays rent and I own my own home. Plus I am still renting the second home to a daughter and the low price we charge her pays my taxes on both places ( Gov, Tax savings help on my own home, but not on the other one). So, the Pres. is pushing saving for retirement, it doesn`t tell us that if we do go without many things just to save, they will then tell us we saved- so now we don`t deserve any help from them. One visicious cycle, Don`t save and we give you Heap for your fuel and lights, food, help repairing your home such as roof, doors, windows, etc., help paying your medicare payment leaving more in your SS check, help paying for your meds, etc.. If you are smart enough to save, then we will tell you you don`t deserve any help.
How is that supposed to encourage the next generation to save?

Well, guess I better get moving if I plan on heading to our Lumber place for wood to redo one bookcase style case that hold some of my horse collection. I threw together a fast one last winter to get them into one place, but it was done with some scrap wood and not as good looking as it might be. So, would like to make a better one and not much time left before winter makes it too cold to work in the Shop.

My parents are on SS now and they barely make ends meet togather. The govt takes advantage if you have money in the bank even if you payed into a federal pension fund. We get a percentage of our check help for a pention but if you get one from a company you worked at then they won't give you any money from what you payed into. I think it is all a scam. If anything happens to one of them then the other get their pension and 2 thirds of the partners.
All meds are free if you are over 65 and we don't have to pay for any medicare in canada so I guiess there is that.
I guess how you spend money says alot to.

Have a nice day
Walker, How much we deaw from SS depends on how much you were earning when you were working. The Gov. takes a percentage of your check each week to save for your SS checks. So, the higher your wages, the more you would get when retired, but if your wages are very low, you end up with a smaller check after retirement. They also take out fed taxes, state taxes, Health taxes for your medicl, etc. Some places don`t takeout for medical, so you need to buy your own outside work. Walt worked in a Plant where they provided it as long as you paid into it every paycheck. Walt was able to add me onto his Blue Cross/ blue shield medical plan for just $10 extra. problem was since it was his policy, it was canceled when he passed away and they covered me for just 3 months, then no more. So I had to get myself another policy on my own. Gov. has a cheeper one than that one and a cheaper one for drugs that I was able to pick up. But they don`t cover everything like the Blue Cross/ Blue Shield did. So there is always a ballance to pay.
Thanks for the help with the clock.
Have a nice day.
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