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Money and Finances
Reply to "People who don't save for retirement"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I used to manage a couple of people who worked way too long because they had to. One issue affecting both of them was having to give half their pension and/or SS to an ex after divorce. I think this affects many people and leaves them with much less in old age. [/quote] SS is never given to an ex, at least not directly. Maybe it’s used to cover their settlement agreement amount but they need to go to court and review it. Workaholics or those who are afraid to become irrelevant if they stop working often use it as an excuse. They either “have to pay their ex wife” or “have to support their young adult kids”. [/quote] Same pp here, What I meant was that SS benefit from your ex never comes out of your ex’s pocket. It’s always the SSA that pays it [/quote] It reduces what they will get in SS payments so in a sense they are "paying" but it's also sour grapes.[/quote] It doesn’t reduce what your ex receives. It’s a formula. If you were married for more than 10 years you can calculate your social security based on either 50% of what your ex receives or what your social security number is. Whichever amount is higher. You aren’t getting their money. It’s just how the formula works. [/quote]
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