this post was submitted on 09 Jul 2023
191 points (98.5% liked)

You Should Know

32987 readers
98 users here now

YSK - for all the things that can make your life easier!

The rules for posting and commenting, besides the rules defined here for lemmy.world, are as follows:

Rules (interactive)


Rule 1- All posts must begin with YSK.

All posts must begin with YSK. If you're a Mastodon user, then include YSK after @youshouldknow. This is a community to share tips and tricks that will help you improve your life.



Rule 2- Your post body text must include the reason "Why" YSK:

**In your post's text body, you must include the reason "Why" YSK: It’s helpful for readability, and informs readers about the importance of the content. **



Rule 3- Do not seek mental, medical and professional help here.

Do not seek mental, medical and professional help here. Breaking this rule will not get you or your post removed, but it will put you at risk, and possibly in danger.



Rule 4- No self promotion or upvote-farming of any kind.

That's it.



Rule 5- No baiting or sealioning or promoting an agenda.

Posts and comments which, instead of being of an innocuous nature, are specifically intended (based on reports and in the opinion of our crack moderation team) to bait users into ideological wars on charged political topics will be removed and the authors warned - or banned - depending on severity.



Rule 6- Regarding non-YSK posts.

Provided it is about the community itself, you may post non-YSK posts using the [META] tag on your post title.



Rule 7- You can't harass or disturb other members.

If you harass or discriminate against any individual member, you will be removed.

If you are a member, sympathizer or a resemblant of a movement that is known to largely hate, mock, discriminate against, and/or want to take lives of a group of people and you were provably vocal about your hate, then you will be banned on sight.

For further explanation, clarification and feedback about this rule, you may follow this link.



Rule 8- All comments should try to stay relevant to their parent content.



Rule 9- Reposts from other platforms are not allowed.

Let everyone have their own content.



Rule 10- The majority of bots aren't allowed to participate here.

Unless included in our Whitelist for Bots, your bot will not be allowed to participate in this community. To have your bot whitelisted, please contact the moderators for a short review.



Partnered Communities:

You can view our partnered communities list by following this link. To partner with our community and be included, you are free to message the moderators or comment on a pinned post.

Community Moderation

For inquiry on becoming a moderator of this community, you may comment on the pinned post of the time, or simply shoot a message to the current moderators.

Credits

Our icon(masterpiece) was made by @clen15!

founded 1 year ago
MODERATORS
 

https://www.ssa.gov/myaccount/statement.html

Wanted to share this as a resource since I started doing a deep dive on the financial implications during one's retirement years of being a homemaker earlier today in light of a new law in Florida stopping the practice of lifetime alimony.

top 30 comments
sorted by: hot top controversial new old
[–] techguy86@lemmy.world 48 points 1 year ago (6 children)

Apparently the SSA’s website closes for the evenings. Who would have thunk.

[–] Konman72@lemmy.world 20 points 1 year ago (2 children)

I ran into this as well and honestly just can't believe it. Like, this is something my grandparent would think might happen and I'd laugh at how silly it is. Yet here we are.

[–] techguy86@lemmy.world 8 points 1 year ago

Those bits and bytes need time off too! 😂🤣

[–] ryathal@sh.itjust.works 1 points 1 year ago (1 children)

I'm 99% sure it's because the website is hooked into ancient systems that need complete control over the data to process and update. So they run that part overnight to have up to date information for the next day.

[–] HandsHurtLoL@kbin.social 2 points 1 year ago (1 children)

This is funny, but not true. The federal government turns off servers and electronics after business hours in accordance with power-saving measures enacted by President Jimmy Carter.

Carter installed solar panels onto the White House in the late 70s, early 80s. Reagan came in and dismantled them.

[–] ryathal@sh.itjust.works 1 points 1 year ago

That is so much worse.

[–] Walnut@hungryhippo.net 9 points 1 year ago (2 children)

Gotta turn off the mainframe to save money!

[–] Borg286@kbin.social 6 points 1 year ago (1 children)

Actually, the mouse running the wheel powering the server also needed to clock out for the night.

[–] HandsHurtLoL@kbin.social 5 points 1 year ago

Have a problem with it? Take it up with the union, bub.

[–] HandsHurtLoL@kbin.social 5 points 1 year ago

I'm surprised!!!

[–] LoafyLemon@kbin.social 3 points 1 year ago

If only there was a way to keep services up and running after hours. ¯⁠\⁠⁠(⁠ツ⁠)⁠⁠/⁠¯

[–] Pips@lemmy.film 2 points 1 year ago

Think about how well the SSA is funded and then consider where they might have cost cut. You'd be surprised how much contract IT eats into a budget.

[–] FReddit@lemmy.world 2 points 1 year ago

You can open a.n account online though it's a pain in the ass. But I like to keep track so I can figure out what kind of dumpster I'll be able to afford in retirement.

[–] Bishma@social.fossware.space 15 points 1 year ago (3 children)
[–] axtualdave@lemmy.world 23 points 1 year ago (1 children)

No, it's not.

https://www.marcumllp.com/insights/no-social-security-is-not-going-bankrupt

While the current expenditures predict, without any action, one of the funding sources for social security, the trust fund, will deplete in 2032, payroll taxes still exist.

Although the Trust Fund is projected to be depleted in 2033, Social Security will not be insolvent or bankrupt. Although it may not be able to pay 100% of the program’s cost, as it stands now, Social Security estimates it will be able to cover approximately 76% of the program’s cost due to employee and employer payroll taxes.

A simple fix -- remove the cap on the ssa taxable cap. Currently, only income under $160,200 (2023) is taxed for social security. Removing, or simply raising that cap opens up solvency for decades.

[–] bamboo@lemmy.blahaj.zone 5 points 1 year ago

That cap is one of the biggest fuck you to the public. Ohh you made too much money, ok, you don't need to fund social security anymore.

[–] HandsHurtLoL@kbin.social 21 points 1 year ago

I am aware that this has been covered, but I have to maintain the belief that much like the US Postal Service, the federal government will continue to foot the bill regardless.

[–] jeffw@lemmy.world 11 points 1 year ago* (last edited 1 year ago) (1 children)

Sure, but the US fuckin loves old people. It’s the one thing we will spend money on. Most countries spend 3x-4x more on elder services than general social services for all ages. The USA (can’t forget my homie Japan, them too) spends TWENTY times more on shit for old people. I doubt this will change until all the boomers are dead and the distribution of ages in the USA changes.

The one thing republicans and Dems will fix together is social security. Not until the last minute, of course.

[–] entropicdrift@lemmy.sdf.org 17 points 1 year ago (1 children)

We do spend 20x more on old folks, but IMO that's mainly because we're lacking social safety nets for those not yet of retirement age compared to most other countries.

[–] jeffw@lemmy.world 7 points 1 year ago* (last edited 1 year ago) (1 children)

Definitely. My point is just that old people are a massive priority and even stingy GOP diehards won’t let social security end. It’s not an entitlement, so they think it’s worth spending for

[–] entropicdrift@lemmy.sdf.org 5 points 1 year ago

Totally fair and agreed.

[–] QuarterSwede@lemmy.world 6 points 1 year ago

This is rad. They have me starting work a year before I thought I did. Heck yeah. I’m doing much better than I thought.

[–] MashingBundle@lemmy.fmhy.ml 4 points 1 year ago

Bold of you to assume anyone on here will be able to claim social security before it goes kaput

[–] shectabeni@sh.itjust.works 4 points 1 year ago (1 children)

It's a good idea to check in on this every so often just to make sure your employers are paying their contributions too. I recall some horror stories when this this been posted before.

[–] pdxfed@lemmy.world 2 points 1 year ago

It's also a massive YSK for personal data safety to make an account and set a password. Pretty much only accountants and data thieves use the site at present as most of the general public have no idea their info is just sitting there waiting to be claimed for anyone with some basic personal info that, thanks to data breaches, is not that hard to find anymore.

[–] ramble81@lemmy.world 3 points 1 year ago (1 children)

So theoretically as long as my gross was below the cutoff (currently $160K in 2023) would that keep a running tally of my gross earnings over the years or are there other things such as 401k that would reduce that amount?

I was wanting to calculate how much I grossed in my lifetime but of course don't have a chunk of that data anymore.

[–] pdxfed@lemmy.world 1 points 1 year ago

Short answer is yes. Your SS is taken out before any reductions like 401k apply. Look at your W2 for any year where you just had one job(or didn't change jobs) to make it simple. Your gross earnings for your job are the same as your SS taxable/taxed earnings, and should match your SS statement online.

[–] ilovetvshows@lemmy.ml 2 points 1 year ago (1 children)

Is this applicable to someone who worked in US for say 5 years on H1B visa and then left the country. I know I paid social security with each of my pay check. Would I be able to get any benefit when I retire (or before)?

[–] ryathal@sh.itjust.works 1 points 1 year ago

I believe you need 10 years to qualify for benefits, be considered disabled, or married to someone who contributed for 10 years.

load more comments
view more: next ›