To Retire At 56? Or Rough It Out...
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234 posts in this topic

4 minutes ago, AlwaysRt said:

ahhhhh, so what I am hearing is "No Pain, No Gain", and I am still in the 'Pain' phase :hystery:

I think you need to show them that if they listen to you things will happen, but if they listen to their friends, who may not have a clue what they are on about, they will not get to their goal and they will change .As per usual each situation is different and you may never see change.

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2 hours ago, sonjack2847 said:

I think you need to show them that if they listen to you things will happen, but if they listen to their friends, who may not have a clue what they are on about, they will not get to their goal and they will change .As per usual each situation is different and you may never see change.

Well I have been on the right path anyway. So and so says do this or so and so says go there.... Has so and so been there or done that? No. Then how do they know??? At that point I just get stared at. 

My favorite so far is 'so and so told my other friend what to do to get a passport because what I said was wrong. hmmm, when did so and so get her passport? Oh she doesn't have one. So why is your friend listening to so and so when we got your passport last year - without any problems? Well because she said. So she knows more about doing something she hasn't done than you do after you have done it successfully? What did your other friend do? She did what so and so said and the guard told her it was wrong and wouldn't let her in until she did the same things we did.

She understands there is a problem in there somewhere but hasn't identified it yet... :SugarwareZ-037: Well I suppose I have time to wait :56da64b51da2f_36_1_681:

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On 04/06/2017 at 0:54 PM, AlwaysRt said:

OMG!!!! ain't that the dang truth. every other day my wife lets me know so and so said why don't we have a baby yet??? so and so said why don't you buy a house yet???

answer #1 - I guess we haven't practiced long enough to figure out the recipe

answer #2 - (many  for this one) as a foreigner it is better to rent right now in case I have to go. what if we go to the States and you want to stay (no reason to have a house here). what if we go to the States and when we come back you want to live somewhere else (have a career, friends or just like somewhere else). and my favorite, no problem are they paying for it?

I feel so lucky I didn't buy the condo I liked last year, best investment decision of my life. The Peso has since depreciated by more than 10% vs. my own currency, which makes me a lot richer and the condo a lot cheaper, but I'm still not buying... wait and see what happens in the Phils. 

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On 6/4/2017 at 1:51 PM, jpbago said:

Your friend's wife will get the SS thing when her husband dies. I believe that Gina, the late Chris's wife, was to get 3 cheques from the USA, one for each kid and a survivor's pension for herself. (I guess that if from the USA, they will be checks, not cheques) I imagine that she had a line up of suitors at the door.

As well, I believe that the widow of an American gets the green card if she wishes.

I was just going through my SS and what my kids will get, so it is fresh on my mind.

Basically, Chris and I are / were in the same situation and we chatted about this many times.  2 kids, who are dual citizens, get a benefit once I start collecting SS, as did Chris's kids.  I don't know what they were getting but currently SS says my two kids will get about 50% (each) of my benefit, until they are 18 or 19 if still going to school.  So, for example, if I get $1000 a month my kids will get $500 each.  There is a family maximum, so if a 3rd dual citizen baby arrives, the per child benefit would be reduced, in this example to 1000 / 3 = $333 per child.  4th arrives, 1000 / 4 = $250 each, etc.

Chris's wife and my wife would not have any spousal SS benefits, but the checks for the kids go to the mother.  They also are not eligible for an automatic green card.  As mentioned, there is a residency and a relationship requirement for a foreign spouse to get a benefit:

When the Residency Requirement is Met

An alien entitled to benefits as a spouse, widow/widower, divorced spouse, surviving divorced spouse, or surviving divorced mother or father must meet the following requirement:
The alien must have resided in the U.S. for 5 or more years, and
The alien must have been in a spousal relationship with the person on whose earnings record the entitlement is based for 5 or more years.

The benefit for the kids changes when the daddy dies, to a survivor benefit.  This is quite a bit higher, so when Chris passed away, his kids monthly benefit should have gone up.  Again, only until 18-19 years of age.

For the wife / mom, if daddy dies, one possibility is that if the kids decide to move to the U.S. when they are of age, they could bring her to the U.S.  I don't think that would be too difficult but of course, plenty of income would be needed in the U.S.  Or possibly, sponsorship by a well to do family member in the U.S.  My BIL is an immigration attorney in the U.S.  I'll ask him about bringing a mother over.

The SS for the kids was an unplanned windfall for my family and I.  It certainly make my financial picture brighter.  I turn 62 in 14 months and our cash flow will certainly be much better than now, but we will try to save most of their SS for their futures.

 

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