Yeah, but I waited over 3 years after I retired before I applied. So, no income at all during that time. But even with S. S., only the Buffetts, Musks, Waltons and Gates can know for certain they have enough.
27 pay periods
- Thread starter dmclone
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But you got to retirement and start drawing SS, may I ask, do you regret waiting till an older age, or did you start drawing it at 62. I went with the 62 option, figured I could use or save the extra cash now as opposed to a larger amount down the line.
I don't get the 27 thing. Does this year (or next year if that what we are talking about) just happen to have 27 pay periods if done M-F so they divided salary by 27. Then back to 26 again or is this every year? I'm just a 15th and end of month guy so this is confusing.
Employers That Pay Biweekly May Have 27 Paydays in 2026. Are You Ready? | Littler
Employers that pay their employees on a biweekly pay cycle often determine the amount of an employee’s biweekly salary by dividing their designated annual salary by 26, reasoning that there will be 26 pay cycles in a 52-week year. Makes sense, right? Not so fast! Once every 11 or 12 years...
I assume it is because if you are bi weekly that 1st payckeck would land on 1/1/2027 so has to be paid on 12/31/26.
Haven’t experienced it yet.
The client I was working for the last time this happened had been managed by a third party who employed me. They paid semi monthly. The contract ended and then I became the clients employee who paid weekly.
They ever so conveniently didn’t pay us for the first pay period and paid us for one week the next week. When we complained, simply told, don’t worry about it: the pay will even out by end of year, which it did.
After research on the topic, my understanding is most aren’t effected if you are paid by the hour. Otherwise, they don’t pay one of the periods or lower payment so it reflects 53 instead of 52 or 27 instead of 26.
Also, my pay day is Friday so I won’t be effected until 2027
The client I was working for the last time this happened had been managed by a third party who employed me. They paid semi monthly. The contract ended and then I became the clients employee who paid weekly.
They ever so conveniently didn’t pay us for the first pay period and paid us for one week the next week. When we complained, simply told, don’t worry about it: the pay will even out by end of year, which it did.
After research on the topic, my understanding is most aren’t effected if you are paid by the hour. Otherwise, they don’t pay one of the periods or lower payment so it reflects 53 instead of 52 or 27 instead of 26.
Also, my pay day is Friday so I won’t be effected until 2027
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No regrets with the way I handled it. I retired at 62. Waited until the January after I turned 65 to get SS.
To me, you have no way of knowing which way is best. If you live to be 95, then you likely should have delayed SS. But if you start at 62 and can invest it, then maybe you come out ahead that way. It really would help if we all knew how long we would live.
I'm sure AI is working on that....
Way less.
At 3:30 PM tomorrow you'll be summoned to HR where they will let you know that you are no longer receiving paychecks.
I ran the numbers, factored in when my parents both passed, and my two brothers, both paid in their entire life and never collected a dollar out of SS. Figured at best I would need to get to around age 78, so 16 years after I retired and said, screw it, going to take it now, and worry about the 30% I left on the table IF I get to 78.No regrets with the way I handled it. I retired at 62. Waited until the January after I turned 65 to get SS.
To me, you have no way of knowing which way is best. If you live to be 95, then you likely should have delayed SS. But if you start at 62 and can invest it, then maybe you come out ahead that way. It really would help if we all knew how long we would live.
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I kinda feel that way too. Get the money when you’re still young enough to really enjoy retirement. By the time you hit the payback point, you may not feel up to doing all the same trips.
Everyone's situation is different, and no one knows the future. The more research I do, the more I realize that I'll figure it out when I get there.
The Death Date Dilemma
Health Status Volatility
Future Inflation Rates
Market Returns
Age Gaps
Spousal Benefit Caps
The Tax Torpedo: Social Security benefits become taxable based on "Provisional Income." Taking benefits early might fill up your lower tax brackets, causing your IRA withdrawals to be taxed at higher effective rates (or vice versa).
IRMAA
RMD Collision
Sequence of Returns Risk
The Death Date Dilemma
Health Status Volatility
Future Inflation Rates
Market Returns
Age Gaps
Spousal Benefit Caps
The Tax Torpedo: Social Security benefits become taxable based on "Provisional Income." Taking benefits early might fill up your lower tax brackets, causing your IRA withdrawals to be taxed at higher effective rates (or vice versa).
IRMAA
RMD Collision
Sequence of Returns Risk
I get about $1600 a month from SS, if I had waited until I was 65, it would have gone up to about $1900 or so, to get the full amount meant I would have to wait until I was 67.5.
The money is not a deal breaker for us, just another layer of our retirement, that we can either invest or take trips with and not have to worry about "can we afford it."
My wife and I and another couple travel together a lot on cruises and other trips, we all retired in May of 2023, I was the one pushing for all of us to retire. Just told them all, "we have about a 10 span here when are health is good enough and before old age really kicks in to travel, so lets not waste these ten years." 2 years into the plan, we have taken 3 cruises, two more scheduled for next year, was in S. Carolina a couple of weeks ago, and headed down to Dallas after Christmas. The extra money allows us take these trips and the memories and good times will be worth the risk at least to me down the road.
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Boy I wish we would fix the calendar.Employers That Pay Biweekly May Have 27 Paydays in 2026. Are You Ready? | Littler
Employers that pay their employees on a biweekly pay cycle often determine the amount of an employee’s biweekly salary by dividing their designated annual salary by 26, reasoning that there will be 26 pay cycles in a 52-week year. Makes sense, right? Not so fast! Once every 11 or 12 years...www.littler.com
Though this doesn't solve my real personal pet peeve of September ("Sept" as in 7 even though it's month 9) through December. I know why this is the case but we don't have to live like animals, dammit!
On the Social Security some folks have moved to. My wife is about 8 years younger than me and we didn’t need the money so delayed until 70. She will get the $4400 that my SS amounts to with yearly raises hopefully for a long time. Her mother is 95 and still living at home so has that going for her…But in the end we never know
A big no to the metric calendar concept. Everything does not need to conform to a perfect fit and idiosyncrasies are some of the more interesting things about life ya OCD weirdoes!
well i just flipped a john deere 345 for $1200 profit. little xmas cash
