Social Security
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Social Security (by Ric [TX]) May 12, 2022 2:13 PM
       Social Security (by Richard [MI]) May 12, 2022 2:43 PM
       Social Security (by Ray-N-Pa [PA]) May 12, 2022 2:49 PM
       Social Security (by S i d [MO]) May 12, 2022 2:54 PM
       Social Security (by S i d [MO]) May 12, 2022 3:14 PM
       Social Security (by Robert J [CA]) May 12, 2022 4:07 PM
       Social Security (by Allym [NJ]) May 12, 2022 4:26 PM
       Social Security (by WMH [NC]) May 12, 2022 5:14 PM
       Social Security (by GKARL [PA]) May 12, 2022 7:08 PM
       Social Security (by plenty [MO]) May 12, 2022 7:49 PM
       Social Security (by plenty [MO]) May 12, 2022 7:49 PM
       Social Security (by Ray-N-Pa [PA]) May 12, 2022 9:39 PM
       Social Security (by John... [MI]) May 13, 2022 12:47 AM
       Social Security (by S i d [MO]) May 13, 2022 8:03 AM
       Social Security (by Ric [TX]) May 17, 2022 4:16 PM

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Social Security (by Ric [TX]) Posted on: May 12, 2022 2:13 PM
Message:

Can you have rentals and still collect SS?

--161.226.xxx.xxx




Social Security (by Richard [MI]) Posted on: May 12, 2022 2:43 PM
Message:

Yes. They have nothing to do with each other. --24.180.xx.xx




Social Security (by Ray-N-Pa [PA]) Posted on: May 12, 2022 2:49 PM
Message:

Excellent question.......I wonder if I am not over preparing myself only to do myself wrong.

How can having too much income impact your golden years? Will the government try to rip you off some how? --24.101.xxx.xxx




Social Security (by S i d [MO]) Posted on: May 12, 2022 2:54 PM
Message:

Yes, social security is collected and paid out based on "earned" income. Rentals are considered "passive" income...even though those of us in the biz know there's nothing passive about them if you self-manage.

From the article link below:

"Social Security only counts income from employment towards the retirement earnings test. Other kinds of income including income from rental properties, lawsuit payments, inheritances, pensions, investment dividends, IRA distributions and interest will not cause benefits to be reduced."

www.aarp.org/retirement/social-security/questions-answers/does-rental-income-count-toward-earnings-limit.html --184.4.xx.xx




Social Security (by S i d [MO]) Posted on: May 12, 2022 3:14 PM
Message:

Ray,

Can the Govt rip you off? Sure they can.

Will they?

Depends. There is precedent for the Govt breaking it's promises. Ask any Native American living on a reservation. For more recent examples, look at how the Govt backed off the gold standard, refusing to pay gold in exchange for paper dollars. The Social Security Trust Fund, already a bunch of digital IOUs, is going to be insolvent in 2034 or sooner. Ditto Medicare about 5-6 years later. They can't keep those promises, even if they want to.

My guess is your success will count against you some day in the form of higher taxes to support those failed programs, reduced benefits, or a combination of both.

I do not plan on getting one penny from Social Security, Medicare, or my Military Pension, in spite of having paid into the first two all of my working career from my W-2 job and having served 23 years in the military. If I get anything, it's icing on the cake.

--184.4.xx.xx




Social Security (by Robert J [CA]) Posted on: May 12, 2022 4:07 PM
Message:

I keep on hearing horror stories that landlords making more than a curtain income level may have another reduction in Social Security Payouts each month.. Congress keeps on trying to stick it to use again.... --47.155.xx.xxx




Social Security (by Allym [NJ]) Posted on: May 12, 2022 4:26 PM
Message:

I do but they gave me less SS and they took more for Medicare this year and my deductible went up too. I paid 12.50 a pay when I was young and didn't have enough money for a bottle of ketchup. That 12.50 is probably worth a thousand now. They will be watching you via Homeland Security. Keep a low profile --108.24.xx.xx




Social Security (by WMH [NC]) Posted on: May 12, 2022 5:14 PM
Message:

I had my Medicare premium quadrupled when we converted a Traditional IRA to a Roth. We are both paying over $600 a month for Medicare now.

And because I am taking SS, it comes right out of that check. He is NOT taking SS, so has to pay it in. --50.82.xxx.xxx




Social Security (by GKARL [PA]) Posted on: May 12, 2022 7:08 PM
Message:

I'm just got my first SS payment this month,so no rental income doesn't affect the benefit as it's investment income. You can make as much rental income as you want and upon attaining full retirement age, the same applies to wages and other earned income. --172.58.xxx.xx




Social Security (by plenty [MO]) Posted on: May 12, 2022 7:49 PM
Message:

Doesn't seem to change anything in my world. Interesting read of others situations. Following. --172.56.xx.xx




Social Security (by plenty [MO]) Posted on: May 12, 2022 7:49 PM
Message:

Doesn't seem to change anything in my world. Interesting read of others situations. Following. --172.56.xx.xx




Social Security (by Ray-N-Pa [PA]) Posted on: May 12, 2022 9:39 PM
Message:

I wonder about my health care and my retirement. I am thinking that due to working hard early in life, the government will feel the need to "redistribute it" --24.101.xxx.xxx




Social Security (by John... [MI]) Posted on: May 13, 2022 12:47 AM
Message:

Indeed -- that is a known issue with doing that conversion. It should go back to normal after a year (or 2, depending on how it was done).

-John...

--24.180.xxx.xx




Social Security (by S i d [MO]) Posted on: May 13, 2022 8:03 AM
Message:

The trick is you don't want to generate more EARNED income. Doing a Traditional to Roth conversion means you're taking EARNED income that was contributed to your Traditional Roth once-upon-a-time pretax and moving it to a post-tax account.

Voila, you have just "realized" (received) that amount as earned income, thus it impacts your SS benefit.

The one good part of the Traditional IRA is it makes your earned income appear to be less in the year during which you make the contribution. But you still are making a good decision in my book by taking the smaller tax hit now and keeping your earnings in the future tax free. IT should more than offset, though with inflation going nuts, it's anyone's guess what return rates will have to look like to keep up. So far, if you're not pulling down 10% or more, odds are you're behind the curve and losing purchasing power even though your dollar value in your investments are increasing.

I'm normally a huge fan of the stock market, and I'm staying in for the long-haul. But right now, my real estate investments are outperforming our IRAs and 401Ks by leaps and bounds.

--184.4.xx.xx




Social Security (by Ric [TX]) Posted on: May 17, 2022 4:16 PM
Message:

I sold a house owner carry where I receive 989 mthly. Someone mentioned that because of that income I cannot collect at 62. I still have multiple other paid for rentals. I am so ready to separate from my W2 gig and enjoy life a little --161.226.xxx.xxx



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