OVER 50's & 60's MOVING BACK TO THE UK.
Nov 26th 2010, 6:37 pm
#8251
Ping-ponger
Joined: Jul 2002
Location: Dreich Alba
Posts: 12,006
Re: OVER 50's & 60's MOVING BACK TO THE UK.
AFAIK, US SSA annual reports are an estimate on assumptions. They use your earning history as a prediction for the future earnings and calculate a predicted pension upon the whole. The annual report is no guarantee, the final pension will depend upon the influence of future earnings. So if you have a period out of work it reduces your future SS benefits because you have made less than predicted contributions.
The annual report says;
At your current earnings rate, if you stop working and claim the SS:-
at age 66 years , pension will be...
at age 77 years, pension will be...
At age 62 years (earliest age to commence) will be ...
Hence we need to be sure we read the appropriate estimate for the age we plan to receive benefit.
For my DH, he will not achieve even the 62 years prediction because he stopped receiving US salary (and hence stopped making contributions to the SS pension fund) this year, at age 61 and so has low age 62nd year earnings.
On the other hand, I worked until I was 63, so I expect to achieve at least the estimated age 62 benefit because I passed the milestone.
I can't confirm because I haven't taken it yet. We live on DH UK salary, and by not claiming US SS benefits it will increase annually (currently 8%). I plan to start it when he gives up work. (by which time tax levels may have increased to cancel out the growth, oh well, can't predict 'em all and certainly not what the government will do. Many say take what you can at earliest.)
We will be doing the math again once we more settled in UK and know for sure what our expenses are and what we can manage on in retirement.
Allow me to suggest the official SS online calculator. Here you can run different scenario's of future earnings and retirement date to get a more accurate estimate: http://www.socialsecurity.gov/estimator/
Please remember to figure in that pension is income and is potentially taxable above annual personal allowances.
The annual report says;
At your current earnings rate, if you stop working and claim the SS:-
at age 66 years , pension will be...
at age 77 years, pension will be...
At age 62 years (earliest age to commence) will be ...
Hence we need to be sure we read the appropriate estimate for the age we plan to receive benefit.
For my DH, he will not achieve even the 62 years prediction because he stopped receiving US salary (and hence stopped making contributions to the SS pension fund) this year, at age 61 and so has low age 62nd year earnings.
On the other hand, I worked until I was 63, so I expect to achieve at least the estimated age 62 benefit because I passed the milestone.
I can't confirm because I haven't taken it yet. We live on DH UK salary, and by not claiming US SS benefits it will increase annually (currently 8%). I plan to start it when he gives up work. (by which time tax levels may have increased to cancel out the growth, oh well, can't predict 'em all and certainly not what the government will do. Many say take what you can at earliest.)
We will be doing the math again once we more settled in UK and know for sure what our expenses are and what we can manage on in retirement.
Allow me to suggest the official SS online calculator. Here you can run different scenario's of future earnings and retirement date to get a more accurate estimate: http://www.socialsecurity.gov/estimator/
Please remember to figure in that pension is income and is potentially taxable above annual personal allowances.
[Later edit: Just read through the remaining posts and see my question has been answered. Can't keep up with this thread!]
Last edited by dunroving; Nov 26th 2010 at 6:43 pm.
Nov 26th 2010, 7:18 pm
#8252
The Kwisatz Haderach
Joined: Aug 2008
Location: North Wales
Posts: 8,080
Re: OVER 50's & 60's MOVING BACK TO THE UK.
Just out of interest, what is the default age for receiving US SS pension? And when is the earliest you can receive it? (too lazy to Google it - every now and then I just want someone on BE to tell me the answer!)
[Later edit: Just read through the remaining posts and see my question has been answered. Can't keep up with this thread!]
[Later edit: Just read through the remaining posts and see my question has been answered. Can't keep up with this thread!]
I think it depends on your age, Dh and I were born in the 60's
Nov 26th 2010, 8:41 pm
#8253
BE Forum Addict
Joined: Jul 2010
Location: North East Ohio, USA
Posts: 1,933
Re: OVER 50's & 60's MOVING BACK TO THE UK.
You can actually start collecting US SS payments at age 62, but you get a lesser amount each month. I have been told it is better to wait until you reach the full retirement age - this varies according to what year you were born. I think for me (born in 1953) full retirement age is 66 - but of course that could change. Goodness know how things will fair in the next decade - if we don't get out of this economic slump.
Nov 26th 2010, 8:45 pm
#8254
BE Forum Addict
Joined: Feb 2010
Posts: 2,606
Re: OVER 50's & 60's MOVING BACK TO THE UK.
On the cost of living in the UK. I write to a person on another forum and he thinks the UK is the pits and he wants to move to Canada. I think the US is his first choice but it is almost impossible to get a visa (thanks to John F. Kennedy I might ad) anyhow this person is a driven person and was born in the UK of Asian Indian parents. He owns property in the UK and he is looking for property in America. He is a nice enough person but he is totally materialistic and he should fit in well in America/Canada
I'm looking through my old mail to see if I can post some of his views.
He thinks that the streets of American are lined with gold!
He comes to Las Vegas about twice a year for trade shows. I think he is a yoppie.
Quote:
Far from it to start a public to and fro session - I just thought you may be interested in having a look from MSN Money this article about the overall best places in the world to live.
Remember, these comparisons are on the country level, and take into account all aspects of todays modern living. All countries have their specific good and bad points. It's systems and comparisons like these which can help provide a more balanced view overall when comparing.
You'll quickly note, that the USA is ranked in the top 10, so is Canada, which for me is my choice of destination when I move out of the UK. The UK languishes back in 25th place - I say 'languishes' becuase as a so called 'G8' country and trying to rub shoulders with the very best countries, we simply lag very very far behind.
Your post mentions specifics in terms of cost of seeing a healthcare professional - you must also remember that the NHS doesn't cover all aiments and treatments. If you are in the UK and entitled to NHS cover, it doesn't 'Automatically' mean that everything is covered - far from it. If you contract,or have a condition etc that ISN'T covered, you are then required to pay from your own pocket.
Lastly, whenever we do have these types of discussions on this forum, I have mentioned and posted up links to the very reputable financial websites and institutions from which I quote. I notice you don't do the same for when you put forward your opinion - could you please show me where you obtain your information ? I'd like to see that in written format and from a place that's reputable. It could mean that I've been looking in the wrong places and in fact costs of living, and standards of living are indeed at parity which you so claim. I could then alter my thinking.
As it stands though, what you're saying is unable to be backed up.
I'm not looking to deliberatley make a fuss, I'm genuinely interested in order that I can add to my knowledge and understanding, so that I can make a more rounded and informed choice of where to go when leaving the UK.
I'm looking through my old mail to see if I can post some of his views.
He thinks that the streets of American are lined with gold!
He comes to Las Vegas about twice a year for trade shows. I think he is a yoppie.
Quote:
Far from it to start a public to and fro session - I just thought you may be interested in having a look from MSN Money this article about the overall best places in the world to live.
Remember, these comparisons are on the country level, and take into account all aspects of todays modern living. All countries have their specific good and bad points. It's systems and comparisons like these which can help provide a more balanced view overall when comparing.
You'll quickly note, that the USA is ranked in the top 10, so is Canada, which for me is my choice of destination when I move out of the UK. The UK languishes back in 25th place - I say 'languishes' becuase as a so called 'G8' country and trying to rub shoulders with the very best countries, we simply lag very very far behind.
Your post mentions specifics in terms of cost of seeing a healthcare professional - you must also remember that the NHS doesn't cover all aiments and treatments. If you are in the UK and entitled to NHS cover, it doesn't 'Automatically' mean that everything is covered - far from it. If you contract,or have a condition etc that ISN'T covered, you are then required to pay from your own pocket.
Lastly, whenever we do have these types of discussions on this forum, I have mentioned and posted up links to the very reputable financial websites and institutions from which I quote. I notice you don't do the same for when you put forward your opinion - could you please show me where you obtain your information ? I'd like to see that in written format and from a place that's reputable. It could mean that I've been looking in the wrong places and in fact costs of living, and standards of living are indeed at parity which you so claim. I could then alter my thinking.
As it stands though, what you're saying is unable to be backed up.
I'm not looking to deliberatley make a fuss, I'm genuinely interested in order that I can add to my knowledge and understanding, so that I can make a more rounded and informed choice of where to go when leaving the UK.
To Quote him
"You'll quickly note, that the USA is ranked in the top 10, so is Canada, which for me is my choice of destination when I move out of the UK. The UK languishes back in 25th place - I say 'languishes' because as a so called 'G8' country and trying to rub shoulders with the very best countries, we simply lag very very far behind."
You can tell him from me that rubbing shoulders comes in handy for the USA when they need thousands of soldiers in Iraq and Afghanistan, Id love to know where the soldiers are, from the other Top 10 or Top 25 countries at that time, and Yes I know the Canadians and Ozzies are there.
If he is of Asian Indian decent I cant see him having a problem getting into this country, quite the opposite in fact, Id recommend California as I think he would fit in well, I seem to think whites are now a minority in California.
I'm not sure JFK's so called plans worked at all, the USA is full of people from Asia, Asians do very well here, studies have shown them to be making the most money here, with whites 2nd, Blacks and Mexicans bring up the rear, I have seen no studies on East Indians, but many around me have motels, gas stations and numerous convenience stores, they don't seem to live on poor street, many drive Lexus and Mercedes Benz, that tells me they do pretty well.
He also said this...
"Your post mentions specifics in terms of cost of seeing a healthcare professional - you must also remember that the NHS doesn't cover all aiments and treatments. If you are in the UK and entitled to NHS cover, it doesn't 'Automatically' mean that everything is covered - far from it. If you contract,or have a condition etc that ISN'T covered, you are then required to pay from your own pocket."
I wont say he is wrong as I'm no authority on the NHS, but I can tell you I've NEVER heard of a single Brit going medically bankrupt.
I love how he wants you to provide proof of reputable information, hahahahaaaa, like everything you read is the Gods Honest truth, many people have a bias in what they write or say, obviously for him its only reputable if he believes it, he seems to be an intelligent person, but if he believes everything that he thinks is reputable he's going to get burned.
Again I hope his dream comes true, he needs to be happy.
To be perfectly honest I think China is the place to be if all you want is Money.
Nov 26th 2010, 9:01 pm
#8255
BE Forum Addict
Joined: Jun 2010
Location: Belfast, Northern Ireland UK again!
Posts: 1,085
Re: OVER 50's & 60's MOVING BACK TO THE UK.
You can actually start collecting US SS payments at age 62, but you get a lesser amount each month. I have been told it is better to wait until you reach the full retirement age - this varies according to what year you were born. I think for me (born in 1953) full retirement age is 66 - but of course that could change. Goodness know how things will fair in the next decade - if we don't get out of this economic slump.
As many of you know I have a very troubled marriage. One example, my OH left on Wednesday for Thanksgiving with his family in another part of Texas. They do not like me and I chose not to go.........so he went anyway. For the first time in 38 years I was alone and he not yet home. Don't mean to whine......these are the sad facts.
Nov 26th 2010, 9:11 pm
#8256
BE Forum Addict
Joined: Sep 2010
Location: Las Vegas, Nv
Posts: 1,000
Re: OVER 50's & 60's MOVING BACK TO THE UK.
I am 66 and just started collecting SS this year. As I have been a homemaker most of my life at least since I came to the USA (even with a Masters from QUB,) due to excellent finances in my first marriage, I had the privilege of staying home to raise my children. I have been married to my second husband for 13 years and now I receive half of his SS. He is 72. Does divorce increase one's SS?
As many of you know I have a very troubled marriage. One example, my OH left on Wednesday for Thanksgiving with his family in another part of Texas. They do not like me and I chose not to go.........so he went anyway. For the first time in 38 years I was alone and he not yet home. Don't mean to whine......these are the sad facts.
As many of you know I have a very troubled marriage. One example, my OH left on Wednesday for Thanksgiving with his family in another part of Texas. They do not like me and I chose not to go.........so he went anyway. For the first time in 38 years I was alone and he not yet home. Don't mean to whine......these are the sad facts.
Jackie
Nov 26th 2010, 9:25 pm
#8257
Home Sweet Home
Joined: Jan 2010
Location: Surrey, England
Posts: 5,128
Re: OVER 50's & 60's MOVING BACK TO THE UK.
"Your post mentions specifics in terms of cost of seeing a healthcare professional - you must also remember that the NHS doesn't cover all aiments and treatments. If you are in the UK and entitled to NHS cover, it doesn't 'Automatically' mean that everything is covered - far from it. If you contract,or have a condition etc that ISN'T covered, you are then required to pay from your own pocket."
Go back to this guy and ask him which medical illness or ailment is NOT covered, just ask him for ONE example? Maybe not holistics like massages and herbal treatments and hypnotherapy and stuff...........
Here in Australia we do have government medical cover for which we pay a small amount per year, but we do still have to sometimes get our wallet out, for instance I went to the doctor this week who didn't bulk bill (Government term) as I didn't realise this, that cost me $30.00 for the gap and then $35.00 for my prescription, in the UK that would have cost me nothing for the doctor and £7.00 for the prescription. That's almost a fifth of the cost here. Prescriptions here are all different prices dependent on what drug it is, as far as I know they are all a standard £7.00 in the UK but free in Wales - does anybody know why that is?
Cheers, Tell him that I know somebody in the UK who was grossly obese. She had a gastric banding operation in a PRIVATE hospital on the NHS, and they paid for her husband to stay one night in a hotel so he could be near to her even though he only lived less than an hour's drive away!!
I am not sure here in Australia if you can even get this done on Medicare.......and even less likely in the USA........
Go back to this guy and ask him which medical illness or ailment is NOT covered, just ask him for ONE example? Maybe not holistics like massages and herbal treatments and hypnotherapy and stuff...........
Here in Australia we do have government medical cover for which we pay a small amount per year, but we do still have to sometimes get our wallet out, for instance I went to the doctor this week who didn't bulk bill (Government term) as I didn't realise this, that cost me $30.00 for the gap and then $35.00 for my prescription, in the UK that would have cost me nothing for the doctor and £7.00 for the prescription. That's almost a fifth of the cost here. Prescriptions here are all different prices dependent on what drug it is, as far as I know they are all a standard £7.00 in the UK but free in Wales - does anybody know why that is?
Cheers, Tell him that I know somebody in the UK who was grossly obese. She had a gastric banding operation in a PRIVATE hospital on the NHS, and they paid for her husband to stay one night in a hotel so he could be near to her even though he only lived less than an hour's drive away!!
I am not sure here in Australia if you can even get this done on Medicare.......and even less likely in the USA........
Last edited by Beedubya; Nov 26th 2010 at 9:40 pm.
Nov 26th 2010, 9:35 pm
#8258
BE Forum Addict
Joined: Feb 2010
Posts: 2,606
Re: OVER 50's & 60's MOVING BACK TO THE UK.
I have no real answer only to say that my cousin who lives in Cardiff told me that the Welsh parliament wanted everyone in Wales to have free prescriptions, I think Scotlands price is different too.
Nov 26th 2010, 10:12 pm
#8259
BE Forum Addict
Joined: Aug 2010
Location: US
Posts: 4,224
Re: OVER 50's & 60's MOVING BACK TO THE UK.
Don,
You had me looking at Ebay and I came on this and I thought of you.
http://cgi.ebay.co.uk/MERCEDES-E200-...ht_1625wt_1135
You had me looking at Ebay and I came on this and I thought of you.
http://cgi.ebay.co.uk/MERCEDES-E200-...ht_1625wt_1135
Nov 26th 2010, 10:25 pm
#8260
BE Forum Addict
Joined: Jul 2010
Posts: 1,139
Re: OVER 50's & 60's MOVING BACK TO THE UK.
Today I went to Walthamstow, to see the house where William Morris, textile designer, printer, and socialist, lived. The house was fine, set about 15 minutes walk from the tube station (Walthamstow Central) but the walk was very uncomfortable. First of all, I misguidedly thought I was going to the countryside, because that is what used to be the case - in about 1890! And I was looking forward to a train ride above ground - which never happened - underground all the way. The walk across town took me into what is probably not the best area of Walthamstow, and when I saw more than one burqua being worn, and Halal shops, I was a bit unsetteld. However, I managed to get to the museum and gallery without incident, and enjoyed the visit. Then negotiated the return journey, using the opposite side of the street to the one I had originally walked down. This one had black ice on it in spots, as last night was yeah cold, so that added to the excitement - a kind man grabbed me just before I went down, and I ended up going into the Halal shop to buy a bottle of water to settle my nerves!
So the question of burquas came up when I got back to my friend's house, and I mentioned that I had never seen them in the USA, and that I thought it was such a paranoid nation following on 9/11, that it would not be good to be seen wearing one of those items of clothing. They were shocked, because here in the UK, many women wear them - which is strange to me. So they asked me to ask you who live in the USA if this is acceptable garb, or if like France, it is frowned upon. I could not make a sensible answer because I had never seen one worn while I lived in the states, possibly because of the area in which I lived - though I told my friends that I had visited Chicago, Minneapolis, Atlanta and smaller towns and cities from one end of the states to the other, and had never seen it being worn, therefore I concluded that it was not worn in the states. My logic may be skewed, so I need your input. If this discussion is unsuitable for this thread, will the moderator please move it to where it should be located. I am not intending to start a discussion, I just need an answer - I did Google it, but cannot find anything conclusive, and am not in the mood to do serious research on this topic. If this is considered too delicate a topic to be on this site, please dump it and forget the entire question. Thanks.
So the question of burquas came up when I got back to my friend's house, and I mentioned that I had never seen them in the USA, and that I thought it was such a paranoid nation following on 9/11, that it would not be good to be seen wearing one of those items of clothing. They were shocked, because here in the UK, many women wear them - which is strange to me. So they asked me to ask you who live in the USA if this is acceptable garb, or if like France, it is frowned upon. I could not make a sensible answer because I had never seen one worn while I lived in the states, possibly because of the area in which I lived - though I told my friends that I had visited Chicago, Minneapolis, Atlanta and smaller towns and cities from one end of the states to the other, and had never seen it being worn, therefore I concluded that it was not worn in the states. My logic may be skewed, so I need your input. If this discussion is unsuitable for this thread, will the moderator please move it to where it should be located. I am not intending to start a discussion, I just need an answer - I did Google it, but cannot find anything conclusive, and am not in the mood to do serious research on this topic. If this is considered too delicate a topic to be on this site, please dump it and forget the entire question. Thanks.
Nov 26th 2010, 10:28 pm
#8261
BE Forum Addict
Joined: Aug 2010
Location: US
Posts: 4,224
Re: OVER 50's & 60's MOVING BACK TO THE UK.
Random comments:
What was the name of that camera Islandwoman? I was checking the BF ads and I didn't see one.
Has anyone tried to blow up (enlarge) those thumbnail photos. I tried. No luck.
What was the name of that camera Islandwoman? I was checking the BF ads and I didn't see one.
Has anyone tried to blow up (enlarge) those thumbnail photos. I tried. No luck.
Nov 26th 2010, 10:30 pm
#8262
BE Forum Addict
Joined: Aug 2010
Location: US
Posts: 4,224
Re: OVER 50's & 60's MOVING BACK TO THE UK.
Where is Rodney? Four days to go!
I was down in LV yesterday and didn't see him
Boy was it cold there!
I was down in LV yesterday and didn't see him
Boy was it cold there!
Nov 26th 2010, 10:36 pm
#8263
BE Forum Addict
Joined: Jul 2010
Posts: 1,139
Re: OVER 50's & 60's MOVING BACK TO THE UK.
About the thumbnails: if you click on them, they open large on my computer. Try again. Rosie
Nov 26th 2010, 10:53 pm
#8264
Ping-ponger
Joined: Jul 2002
Location: Dreich Alba
Posts: 12,006
Re: OVER 50's & 60's MOVING BACK TO THE UK.
For certain aspects of government, Scotland and Wales (and I presume NI) can do things their own way. Health care and education are two examples. Sometimes it seems they do things differently just to be different (up here in Scotland, at least, where Liver Lips Salmond whips up Scottish nationalistic fervour/"individuality" whenever he gets the chance).
I think that completely free prescriptions is a mistake for all except the destitute. If they were just a fiver each, people might think twice before asking for a prescription they don't really need and that costs the taxpayer $100+