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Happy Labor Day!

Written by Nickel - One Comment

Ten Money-Saving Tailgating Tips

This is just a quick note to wish all of you a happy and relaxing Labor Day. If you’re curious about how/why Labor Day came into existence, I recommend taking a look at the Department of Labor’s page on the History of Labor Day. Or just shut your brain off, toss some meat on the grill, and enjoy the day.

We’ll be back tomorrow with our regularly scheduled programming. See you then. :-)

Published on September 3rd, 2012 - One Comment
Filed under: Miscellany

About the author: is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!

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One Response to “Happy Labor Day!”

  1. 1
    mulroney Says:

    Nope, the total SS cash payout is about the same for most people… whether you start at age 62 or 70.

    The key is life-expectancy. You collect more dollars per month at age 70 — but for fewer months… because you die.

    That’s precisely how the Social Security Administration calculates your reduced payout amount at age 62; they use standard actuarial tables for average life expectancy — and simply pro-rate what would be your full SS payout (at age 70) until expected average death-age. Very simple.

    If you know the year of your death, you can game the system. Or maybe you have a trophy-wife, 35 years younger than yourself — you can delay SS and ensure she gets many years of your full payments. If you’re a black-male, your life-expectancy is well below average — take the money at 62. You sure can’t leave any of your SS money to your kids.

    And little things like inflation, and the current insolvency of the SS system complicate things severely.

    Social Security went bankrupt in 1983. Congress sharply raised payroll taxes and reduced SS benefits by taxing them. How can you be certain what your actual SS payout will be when you reach age 70 ??

    Bird in the Hand is worth two in the Bush.

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