Looming Retirement

[Jim]

True John, but we have better beer !
Seriously, what if you put the 'extra' into RRSP's or RRIF's . . ?
I think that's akin to the american IRA's . . ?

Jim Kinnear
"A man is about as big as the things that make him angry." -- Winston 
Churchill



----- Original Message ----- 
From: "John Ross" <jrpiano@win.eastlink.ca>
To: "Pianotech" <pianotech@ptg.org>
Sent: Friday, March 11, 2005 6:46 PM
Subject: Re: Looming Retirement


> You are lucky, saying you can make as much as you want, now.
> Over roughly 30K, I have to pay 42% income tax, instead of 26%.
> If I make, I think it is 56K, they start clawing back my Old Age Pension, 
> which I think is the same as your Social Security.
> So I am in the enviable/unenviable position of being screwed for any extra 
> I make.
> Only in Canada, they say. :-)
> John M. Ross
> Windsor, Nova Scotia, Canada
> jrpiano@win.eastlink.ca
> ----- Original Message ----- 
> From: "Avery Todd" <avery1@houston.rr.com>
> To: "pianotech" <pianotech@ptg.org>
> Sent: Friday, March 11, 2005 6:02 PM
> Subject: Looming Retirement
>
>
>> List,
>>
>> Well, everybody, believe it or not, I've reached my FULL retirement age, 
>> 65 + 4 months as of the 12th of March, to start collecting my full Social 
>> Security benefits. The great thing about it is that now, since I waited 
>> for that, I can make as much as I want to without any penalties! That 
>> means that I can keep working full-time, plus any outside work, and I 
>> won't have any deducted from my SS check.
>>
>> I went in yesterday morning to do the applying thing and found out that I 
>> will get a full March check the 3rd Wed. of April, because I'm eligible 
>> as of the month I reach full retirement age!
>>
>> I also found out the other day that because the school now has what is 
>> called "the rule of 80", I'm only going to HAVE to work 2 more years to 
>> get my full retirement from the Teacher Retirement plan. Rule of 80 is 
>> your age plus the number of years of service have to add up to 80. I 
>> found out today that they figure it based on your employment date, so I 
>> should be able to retire, if I want to, in 2 yrs. this month. Of course, 
>> they figure it on a certain percentage, based on how many yrs. of 
>> service, so the more years I actually work, the higher that percentage 
>> will be.
>>
>> Just thought I'd share the wonder that I made it this long! :-)
>>
>> Regards,
>> Avery
>>
>> _______________________________________________
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>>
>
>
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