how much is you pension?

[transam]

14 minutes ago, gammelnok said:

Well - that's new to me. According to the official rules, if meeting the requirements, the mandatory basic sum of state

pension is to be paid regardles to residency choosen. Weather that's a small sum or not is up for discussion, guess most

wouldn't like to live on it though.

 

Have a great day.

Rasmus

I do............

[akentryan]

There is always the big medical dragon lurking. The partial cost of having my Pacemaker replaced back in the USA was in excess of $60,000. I paid nothing. The question should be how much is your retirement income and what are you doing for medical care?

[transam]

1 minute ago, akentryan said:

There is always the big medical dragon lurking. The partial cost of having my Pacemaker replaced back in the USA was in excess of $60,000. I paid nothing. The question should be how much is your retirement income and what are you doing for medical care?

If anyone has a big life threatening medical problem they should stay home unless they don't care.....I respect those who don't care and see what happens.....Nobody has a printout of their life span, many die young, we have all seen that..........Do what you want to do.........Well I sing, and look out for shooters....

[JAFO]

17 hours ago, Grubster said:

$6065 US per month. Easy to live the life here, but not that great in many places in America.

16 hours ago, Grubster said:

SS and my 401K I paid into and life is good

 

Sad but true an easy life in the US on $5 to $6k a month just isn't possible. Even if you move to some remote low rent area its a challenge if you want any quality of life you grew up knowing. Those areas where $5 to $6k will support you are usually run down ghettos or white trash areas and the neighbors aren't usually the best. Another pretty sad avenue is retirement communities. I have watched many of my parents friends just wither away in retirement homes just watching their neighbors die off 1 by 1 and they spend every penny they have to live in them.  Who in the hell wants that life? Plus whats worse is they live in utter fear of medical costs.  Many people in the US do not know any better. They have been spoon fed so much crap about other countries being 3rd world, terrible violence, sub par medical care and so on they are afraid to leave or even look. There are some incredibly good places to go move and maximize your retirement savings (Thailand being one). No one said people have to stay and retire in the country they were born in. Its exciting and healthy to move abroad.

 

As to your comment on 401K Grubster,  I am pushing many young folks I know that they need to vest in a 401K or an IRA now. I did a few presentations at some local schools in the US before I moved back here. I told them to set aside in it what you can afford. It will build. I wish my parents had taught me this. They said nothing. Fortunately I did it on my own in my mid 30's and it will carry me through until I bite the dust or close and at that point, I will not care. Personal finance management should be a mandatory 1 year elective in high school and again in college. 

 

 

[khunPer]

1 hour ago, gammelnok said:

Well - that's new to me. According to the official rules, if meeting the requirements, the mandatory basic sum of state

pension is to be paid regardles to residency choosen. Weather that's a small sum or not is up for discussion, guess most

wouldn't like to live on it though.

 

Have a great day.

Rasmus

If living outside EU and associates, you are eligible to the basic State Pension (Folkepensiones grundbeløb), which is around 6,000 dkk gross before tax, and 5,000 dkk (approximately 25,000 baht) after income tax, using all personal allowances. You need to be available 40 years for work in Denmark between your 16th year and the official retirement age, which is 65-66 years at the moment, raising to 68 over a few years. Each year less than 40-years deduct 1/40th of the State Pension – however, if you have been in Denmark less than 30 years in same period, you are not eligible for Danish State Pension at all.

 

The Danish government offers full 40/40th State Pension to all refuges, regardless they just arrived to Denmark; when staying in Denmark or EU – i.e. permanent address, and staying over 180 days a year – you may be eligible to some additional amounts on top of the basic amount, depending of you financial situation and other private retirement pension(s). I'm not familiar with exact amounts, but think it can almost double the basic amount (before income tax).

 

Most Danes also have a small additional mandatory "working market pension" that they have been forced to pay into, together with their employer; that pension is regardless of how many years you have been working in Denmark, but too small to live from – I'm not sure what the maximum is at the moment, but probably around 12,000 dkk to 15,000 dkk before tax, which after 38% personal income tax will equal around 3,000 baht to 3,500 baht a month. If you have no other retirement pension, live abroad, and take out the maximum of the basics, you can have up to 30,000 baht a month (+/- depending of exchange rates). If your Thai wife – or partner – has a (very) high income, you may be deducted some amount in the basic Danish State Pension; every year you'll need to report your (Thai) wife's income to Denmark, and of course also if you yourself has extra income that can be deducted in the State Pension.

 

Yes, some can live or survive in Thailand for about 30,000 baht a month, but it may not be the life most folks is dreaming about; however, it may still be a better life than staying home, even with the additional State Pension fees...

[augustwest]

If the roof on your house is dripped get it fixed before the whole place collapses. 

Have you ever heard of dividend reinvestment,it's called a drip. Not very knowledgeable are you

[Johpa]

6 hours ago, JAFO said:

 

Sad but true an easy life in the US on $5 to $6k a month just isn't possible. Even if you move to some remote low rent area its a challenge if you want any quality of life you grew up knowing. Those areas where $5 to $6k will support you are usually run down ghettos or white trash areas and the neighbors aren't usually the best.

 

You must be one sorry silver spooned individual.  I live in an expensive west coast region and have could easily find housing and comfort at $5k.  Of course you might see me and my neighbors as white trash, who knows.

 

Another thing that galls me are all the public sector pensioners who move to Thailand to spend all that tax payer generated pension money outside the US instead of spending it back in the country where much of the funds originated by the regressive tax on wages.  There should really be a law in the US that all publicly funded pensioners be required to live in the US and contribute to the economy that provided such largess.

[returnofthailand]

I strongly believe in a few years, some countries will give free money to all their citizen.


as for people telling me it's not my business. do you really think I will send all your info to wikileaks? . lol

[CaptHaddock]

8 hours ago, Johpa said:

 

Another thing that galls me are all the public sector pensioners who move to Thailand to spend all that tax payer generated pension money outside the US instead of spending it back in the country where much of the funds originated by the regressive tax on wages.  There should really be a law in the US that all publicly funded pensioners be required to live in the US and contribute to the economy that provided such largess.

 

So, having been told how to earn it they should now be told where to spend it?  Sounds pretty totalitarian to me.

[micmichd]

On 17/09/2016 at 3:04 AM, returnofthailand said:

I m under 50 and paid just a little for my retirement, but not enough to live decently as I have worked and live in foreign country most of the time and didn't work very much . so 0 for me. I don't believe the retirement system will exist in 15 tears time. oh yes you will still get retirement at 105 years old. lol

retirement has been invented after the 2nd world war and at the time there were 7 workers for 1 retire . now we have 2 workers for 1 retired. and soon 1 worker for 3 retired. .
do you see the trend here ? do you think it s improving in a good way or in a bad way.?


instead I saved good money already.
and in case I finish on the streets, I will ask for assistance. and then I will probably live like a king. free housing free food free pocket money free transport free holiday to Thailand... and worse case, I apply as a refugee in Germany.... lol

 

As a refugee to panicking Germany? Bet you'd rather be dead. 

PS. I'm German, and I know what I say. 

[micmichd]

28 minutes ago, CaptHaddock said:

 

So, having been told how to earn it they should now be told where to spend it?  Sounds pretty totalitarian to me.

This *is* totalitarian, and a reason for war.

[JAFO]

9 hours ago, Johpa said:

You must be one sorry silver spooned individual.  I live in an expensive west coast region and have could easily find housing and comfort at $5k.  Of course you might see me and my neighbors as white trash, who knows.

 

Actually no, grew up very lower middle class. Did not have a lot. I know many that live all over California and Oregon and $5K doesn't get you much at all especially if you have a mortgage, property tax, Home owners insurance, auto insurance, medical insurance, gas food, cable, phone, internet, etc etc. However specific situations with some allow many to make it work. I apologize for generalizing. I agree that it all depends on ones personal expectations later in life. I looked around in many areas to make $5K work and I would not want to live in them. But again that was me. 

 

9 hours ago, Johpa said:

Another thing that galls me are all the public sector pensioners who move to Thailand to spend all that tax payer generated pension money outside the US instead of spending it back in the country where much of the funds originated by the regressive tax on wages.  There should really be a law in the US that all publicly funded pensioners be required to live in the US and contribute to the economy that provided such largess.

 

While I respect peoples opinions, I absolutely disagree. You work, you pay, you should be able to spend it anywhere you want. Totalitarian seems pretty close if that was to happen. 

 

 

[pigeonjake]

who then hell would come on an open forumn and start spouting how much they get,

im a self employed welding inspector working in oil and gas, if some one was to ask me what i was on, do you think i would tell them,

right, well i wouldnt say it on here too

[gk10002000]

On ‎9‎/‎17‎/‎2016 at 10:27 AM, Johpa said:

 

Yes, there are a few private pensions from corporations left. The people I personally know that have such private pensions all worked for one of the major defense contractors.  There may be others.  But for most working class people there are no true pensions. And congratulations on your good life.  My life is also good, just very modest in nature.

Yes and many of the defense contractors have phased out the pensions.  Northrop Grumman for example stopped a pension for new hires about ten years ago.  They have kept modifying the 401k also.  Now, new hires get a matching 6% put into their 401k plans and they get nothing for a pension. Before April new people got 4 % 401k match and depending on age, I will list 50 or older, they would get an additional 5% match for a total of 9%.  So new employees just got a pay cut from 9% to 6%!  now the 6 % 401k match will increase every few years up to a max of 8%. 

[ExpatOilWorker]

On 9/17/2016 at 11:08 AM, Surasak said:

Show off! I have to hire a truck???

 

Lucky you, I have mine shipped in every month.

 

[gk10002000]

On ‎9‎/‎17‎/‎2016 at 5:17 AM, Foozool said:

Are you talking about SS ? I did not know that it is required 30 years of living in the US.

Have you ever paid any tax ? I thought 40 points needed only.

Many other nationalities come to US and work for sometime ( of course less than 30 years)  and they will be qualify to get pension in their own countries and they are not even US Citizens.

I have paid tax for 20 years, but I have not lived in the US for 30 constant years !!!

 I'm expecting my SS at 76. I am in early 50ies now.

Perhaps you know more things that I did not know. Please share it.

 

 

There is no physical requirement to be in the USA to qualify for social security.  Heck, if one lives and works overseas, and is paid overseas, one can and has to file paperwork to make contributions into social security, so the system knows and does not expect any physical presence.  They do base the payout strongly on your first 35 years of work/contributions, and working in years after those first 35 don't make as big an increase in your benefits as you might think.  Go to the ssn site and they have a great benefit estimator.  You can put in numbers for wages earned for future years and compare it against if you stop working now, collect now or later, etc.  It is quite interesting

Edited September 19, 2016 by gk10002000
editorial

[gk10002000]

On ‎9‎/‎17‎/‎2016 at 2:52 AM, wwest5829 said:

I am thinking this is a topic better suited for a survey with income brackets. In Southern US cultural norms, you do not ask this question as it is rather personal. Like asking a woman's age.

 

That said, I was born North of the Mason-Dixon Line. But...no "pension", as I think that refers to a "defined benefit" from a company as deferred compensation. US Social Security about $1200.00 based on 41 years of teaching in Kentucky. Then I draw an equal amount from saved retirement/inherited funds. Cannot afford to live in the US on $2400 a month, so...here I am suffering terribly (said tongue in cheek)!

Yep.  with mandatory Obamacare payments now, $2400 won't cut it in the good old US of A.  there are of course ways to live on the cheap, rent a room in a house with 40 or 5 boarders, or if lucky have some good relatives that will put you up and you can contribute to the household.  But Rent, Health care, Car insurance, are pretty much mandatory and that is just existing, not living.  Now comes car payments or repairs, food of course, clothes (can be cheapened), entertainment, wife or girlfriend, ok, or boyfriend,

[Gary A]

9 hours ago, Johpa said:

 

You must be one sorry silver spooned individual.  I live in an expensive west coast region and have could easily find housing and comfort at $5k.  Of course you might see me and my neighbors as white trash, who knows.

 

Another thing that galls me are all the public sector pensioners who move to Thailand to spend all that tax payer generated pension money outside the US instead of spending it back in the country where much of the funds originated by the regressive tax on wages.  There should really be a law in the US that all publicly funded pensioners be required to live in the US and contribute to the economy that provided such largess.

 

Are you serious??? I paid into the Social Security program all my working life. You are saying that my monthly payment comes from the generous government? Your generous government has raped the Social Security trust fund and that's why there is a shortage of money in the program. I would expect the corrupt government to pay back that money they stole from us. Since there was a huge amount of money in the trust fund, they have also taken money from it to fund welfare schemes rather than the people who paid into the program.

[micmichd]

42 minutes ago, Gary A said:

 

Are you serious??? I paid into the Social Security program all my working life. You are saying that my monthly payment comes from the generous government? Your generous government has raped the Social Security trust fund and that's why there is a shortage of money in the program. I would expect the corrupt government to pay back that money they stole from us. Since there was a huge amount of money in the trust fund, they have also taken money from it to fund welfare schemes rather than the people who paid into the program.

Sure, also true for Germany where the nanny state feeds people that never contributed one cent to the Social Security System - just to keep the German scroungers quiet. I paid into that scheme, too, only to find out that in the end I actually worked for a country that I disgust. 

[Johpa]

1 hour ago, JAFO said:

While I respect peoples opinions, I absolutely disagree. You work, you pay, you should be able to spend it anywhere you want. Totalitarian seems pretty close if that was to happen.

 

Relative to the public sector to where my remark was directed, as a taxpayer I work, I pay, and someone else receives a public pension.  The least they could do for that largess is spend the money back into the tax base from whence it came.  That is a far cry from totalitarianism and it is also sound economic policy.

[Gary A]

5 minutes ago, Johpa said:

 

Relative to the public sector to where my remark was directed, as a taxpayer I work, I pay, and someone else receives a public pension.  The least they could do for that largess is spend the money back into the tax base from whence it came.  That is a far cry from totalitarianism and it is also sound economic policy.

 

What do you call a tax base? The money that most of us paid in is supposed to go into a trust fund for future repayment to us and not for the government to squander by the socialists. We have to TRUST that those funds are to be used for our old age and not for corrupt government welfare schemes. If I pay into a retirement fund, I expect to be able to get MY money regardless of where I live.

[micmichd]

18 minutes ago, Gary A said:

 

What do you call a tax base? The money that most of us paid in is supposed to go into a trust fund for future repayment to us and not for the government to squander by the socialists. We have to TRUST that those funds are to be used for our old age and not for corrupt government welfare schemes. If I pay into a retirement fund, I expect to be able to get MY money regardless of where I live.

To make sure the difference: The money you get from an income-based social security funds is in fact deferred compensation, so taking away any of this is in fact theft or robbery - it is your very own personal income worldwide. Tax-based benefits are different, you're dependant on a government. Taxes you pay are a third issue, it's okay (and only then okay) as long as you get something for it.  A real economic issue.  And now they come and want to finance wars from these taxes. <deleted> them, I know these wars from personal experience, from the Vietnam War era. 

[little mary sunshine]

 

5 hours ago, JAFO said:

 

Actually no, grew up very lower middle class. Did not have a lot. I know many that live all over California and Oregon and $5K doesn't get you much at all especially if you have a mortgage, property tax, Home owners insurance, auto insurance, medical insurance, gas food, cable, phone, internet, etc etc. However specific situations with some allow many to make it work. I apologize for generalizing. I agree that it all depends on ones personal expectations later in life. I looked around in many areas to make $5K work and I would not want to live in them. But again that was me. 

 

 

While I respect peoples opinions, I absolutely disagree. You work, you pay, you should be able to spend it anywhere you want. Totalitarian seems pretty close if that was to happen. 

 

 

 

Edited September 19, 2016 by Rimmer
quoted reply of removed

[Gary A]

Most people in Kalifornia live on a lot less than $5,000 dollars a month. Wages would have to be much higher than $30 an hour to net that much. I worked in two different factories and hourly wage people made considerably less than that. My situation was different for most people. I had no family to support and I leased my car. I rented a shoebox apartment for $1,250 a month. I spent considerably less than $5,000 per month. Granted that someone with a mortgage and a family would spend a lot more than I did.

[CaptHaddock]

2 hours ago, Gary A said:

 

Are you serious??? I paid into the Social Security program all my working life. You are saying that my monthly payment comes from the generous government? Your generous government has raped the Social Security trust fund and that's why there is a shortage of money in the program. I would expect the corrupt government to pay back that money they stole from us. Since there was a huge amount of money in the trust fund, they have also taken money from it to fund welfare schemes rather than the people who paid into the program.

 

Congratulations on your perfect score: nothing in your post is correct.  No rape of the SS Trust Fund has occurred.  The Trust Fund is going to be spent to provide benefits for the baby boomers which is the purpose for which the Trust Fund was created in 1983 by the Greenspan Commission.  Assets of the Trust Fund are held as special US Treasuries which pay interest (a lot of interest) into the Trust Fund all of which is used only to provide benefits for SS recipients. 

 

Where do you guys get this stuff?  Republican talk radio?

[Gary A]

1 minute ago, CaptHaddock said:

 

Congratulations on your perfect score: nothing in your post is correct.  No rape of the SS Trust Fund has occurred.  The Trust Fund is going to be spent to provide benefits for the baby boomers which is the purpose for which the Trust Fund was created in 1983 by the Greenspan Commission.  Assets of the Trust Fund are held as special US Treasuries which pay interest (a lot of interest) into the Trust Fund all of which is used only to provide benefits for SS recipients. 

 

Where do you guys get this stuff?  Republican talk radio?

 

You don't call it rape that the government has "BORROWED" 2.8 trillion dollars from the trust fund? Explain how they are going to pay that back when they can't pay down the national debt or even balance the federal budget.  All the information is available if you bother to Google it. The BIG question is how much longer will they be able to print funny money to pay their debts. What trust fund, that money has already been squandered. Apparently some people trust the government. (democrats) I'm not a democrat. If citizens ran their finances the way the government runs theirs, they would be homeless and out on the streets. There will be no more money for welfare.

[CaptHaddock]

37 minutes ago, Gary A said:

 

You don't call it rape that the government has "BORROWED" 2.8 trillion dollars from the trust fund? Explain how they are going to pay that back when they can't pay down the national debt or even balance the federal budget.  All the information is available if you bother to Google it. The BIG question is how much longer will they be able to print funny money to pay their debts. What trust fund, that money has already been squandered. Apparently some people trust the government. (democrats) I'm not a democrat. If citizens ran their finances the way the government runs theirs, they would be homeless and out on the streets. There will be no more money for welfare.

 

The US government is currently making full interest and principal payments to the SS Trust Fund on schedule and will continue to do so, just like it pays interest on Treasury bonds.  The US government is viewed by the bond market as the gold standard of creditworthiness, which is one reason that the debt-servicing costs are so low.  The US govt has not raped the SS Trust Fund any more than it has raped its bondholders.  There was a risk of default by the govt in 2013, but that was not because of an inability to pay, but because the Republicans threatened to bring about a default as a transparent political maneuver.

 

You can't understand economics by listening Rush Limbaugh.  You might try reading an economics text sometime for a refreshing glimpse of reality.  Governments are not like households for various reasons including that they can roll over debt indefinitely since they are in theory immortal.  There's much more to it of course, but it's probably above your pay grade.

[wwest5829]

15 hours ago, Johpa said:

 

You must be one sorry silver spooned individual.  I live in an expensive west coast region and have could easily find housing and comfort at $5k.  Of course you might see me and my neighbors as white trash, who knows.

 

Another thing that galls me are all the public sector pensioners who move to Thailand to spend all that tax payer generated pension money outside the US instead of spending it back in the country where much of the funds originated by the regressive tax on wages.  There should really be a law in the US that all publicly funded pensioners be required to live in the US and contribute to the economy that provided such largess.

 

Troll post...or based on reality ignorance. You declare that I should be forced to live in the US on my $1200.00 Social Security and matching $1200.00 retirement funds because I choose to teach for 41 years (not a bright financial decision). In addition to the low public service salary now you think you should penalize me more? Feel free to speculate on my rather obnoxious response!

[wwest5829]

4 hours ago, Gary A said:

 

What do you call a tax base? The money that most of us paid in is supposed to go into a trust fund for future repayment to us and not for the government to squander by the socialists. We have to TRUST that those funds are to be used for our old age and not for corrupt government welfare schemes. If I pay into a retirement fund, I expect to be able to get MY money regardless of where I live.

 

I agreed that the US Social Security funds are our earned deferred compensation. Have to decline your comment concerning the squandering by socialists as that is not the segment spending the majority of discretionary spending on war costs...

[Gary A]

I have been accused by some of being an isolationist. That accusation came from some of my peers regarding the invasion of Iraq. I was adamantly opposed of putting boots on the ground. As the Middle East is in horrible shape after the US actions, I think I am and was correct. The countries that the US were involved in are in far worse condition than before the US got involved. You can't force democracy on people who are not interested in being democratic. The muslim problem must be solved by muslims, not by the US or other Western nations. So, YES, billions of dollars could have been saved. A lot of money is wasted on corruption sponsored by the government.

 

I'm too old to get too excited by our incompetent government. I'll be dead and gone before the whole thing implodes. HOWEVER, I do worry about the young and yet unborn children who will have to somehow clean up this mess.