Salpidae452
New Member
Is it possible to receive a monthly retirement benefit/pension after we get our green card even if we never work in the US but currently at a retiring age, 62 and 60 yrs old?
Pension/Retirement Benefit
- Thread starter Salpidae452
- Start date
TheRealCanadian
Volunteer Moderator
No. The retirement age in the US is currently 65 or 67, and you must contribute to FICA for at least 40 quarters to be eligible for Social Security or Medicaid. If your native country has a totalization agreement some work there may count to the 40 quarters for SS.
Concerned4us
Banned
A US citizen 60 years old would be expected to work another 6/7 years to obtain full retirement benefits. Many work longer. People 60 and 62 need to get a job and not try to mooch off the US taxpayers. At least one if not both of you could qualify for SS benefits. A 60m year old with no disability not working is just plain lazy. If you are not bringing enough funding to support yourselves or do not have sponsors willing and able to do so, you need to rethink you plan to move so late in life. My spouse is older than both of you and still work 50-60 hours per week and he has worked in the US for over 40 years! My mother in law worked into her late 70s and worked nearly all of her adult life.
So if you come, expect to assist in your own support even if it is a menial, minimum wage job. It is your choice to move to the US. We do not intend to allow you to live a life we cannot by gifting you money for choosing to move to the US.
So if you come, expect to assist in your own support even if it is a menial, minimum wage job. It is your choice to move to the US. We do not intend to allow you to live a life we cannot by gifting you money for choosing to move to the US.
Concerned4us
Banned
Another reason to get a job is for the health insurance. If either spouse has any preexisting condition, private insurance will be nearly impossible to obtain. It is most cost effective for each spouse to have individual coverage from respective employer.
Triple Citizen
Registered Users (C)
Salpidae452
New Member
My brother.
Concerned4us
Banned
Your brother is likely near your age; since he should expect to work into his mid 60s, do you really think that he wants to support someone who retires so relatively young. Additional, once he is retired, his income will be greatly reduced, and he will need to support his immediate family as well as you two. I wonder if he considered his financial responsibilities when he sponsored you; most likely not.
You need to do the numbers. Look at the US poverty income numbers for 2 people in your area. Double it to get a moderately comfortable standard of living (or at least 1.5). Assume a 3 percent rate of inflation (potentially very low) and calculate the cost of living to age 90 (30 years in your case). Take your assets you are bringing to the US; apply a 6% rate of return (currently high with the current interest rates; 3-4% would be conservative at this time).
Alternatively calculate expected expenses. Don't forget to include medical insurance and copays and prescriptions at full cost. If you have preexisting conditions requiring non-generic maintenance meds (a common drug for type 2 diabetes is nearly $300/mo and that is cheap compared to memory drugs, etc.), these can very easily be more costly than the insurance premiums; I would plan for total medical costs for 2 people in early 60s to be $1500 to $2000 per month. You can find many budget worksheets so you know what to include. As young as you are, you will need to be generous with your travel budget. Another alternative is to ask your brother what he planned as his retirement baseline income number and use it.
Check the numbers. Can you support yourself? If not, what is the shortfall? Can your brother honestly support you and his own family?
You need to do the numbers. Look at the US poverty income numbers for 2 people in your area. Double it to get a moderately comfortable standard of living (or at least 1.5). Assume a 3 percent rate of inflation (potentially very low) and calculate the cost of living to age 90 (30 years in your case). Take your assets you are bringing to the US; apply a 6% rate of return (currently high with the current interest rates; 3-4% would be conservative at this time).
Alternatively calculate expected expenses. Don't forget to include medical insurance and copays and prescriptions at full cost. If you have preexisting conditions requiring non-generic maintenance meds (a common drug for type 2 diabetes is nearly $300/mo and that is cheap compared to memory drugs, etc.), these can very easily be more costly than the insurance premiums; I would plan for total medical costs for 2 people in early 60s to be $1500 to $2000 per month. You can find many budget worksheets so you know what to include. As young as you are, you will need to be generous with your travel budget. Another alternative is to ask your brother what he planned as his retirement baseline income number and use it.
Check the numbers. Can you support yourself? If not, what is the shortfall? Can your brother honestly support you and his own family?