100% Iu / I Cant Work ...but Cant Afford Not To.

[redspot321]

I know how this comes across. If im disabled then I should lower my standard of living and quit complaining. I completely understand that. However Im in a bit of a bind.

I am rated at 90% right now for several herniations in my back, and bilateral Avascular Necrosis, and Crohns disease.

I can no longer work I am virtually killing myself. I take medication to knock out my immune syatem yet Im a Respiratory therapist! I am very high risk for disease.

Here are my questions

If I file IU I will take a pay cut from 55K to 10 K a year plus lose a matching 401K plan. I dont know that I can support my faimily of 4 with this pay cut. What kind of SS benifits would I quilify for to supplement this income?

Also is it hard to get 100% IU P+T. This would reduce my taxes by $450 a month this would be a great savings.

Thank you for your help.

[navydoc2]

how old are you and what about applying for early retirement?

[Pete53]

Unfortunately the way it works you have to not work to get 100%. I know that after you get 100% you could work maybe. You should also be able to get SSD after 5 months and for many of us pay no Federal Taxes

I live fairly comfortably on my VA and SSD

Think of it as medical retirement caused by your service

[LarryJ]

Okay.

As Pete says, you can "get by" pretty well on SSDI and VA 100%.

First of all, if you get 100% Permanent and Total, then that opens up the chap 35 benefits for the wife and kids (free CHAMPVA health insurance and, essentially, after adding up the available state benefits pell grants, etc., into the chap 35 benefits, free college for the wife and/or kids).

And, no income tax on your 100%.

And, then there is the SSDI, which is not so bad, if you've been paying in what I think you've been paying in as a respiratory terrorist!

Figure it like this:

approximately $2,700.00 monthly for the 100%, + or - a couple hundred. now this is with NO taxes so it really is more like what you'd be taking home pay if you were making around $3,700.00.

So:

$3,700 VA (may be a little high, but not very)

$1,500 SSDI

=

$5,200 a month and your family is covered and you are covered, healthcare wise, also. And, CHAMPVA health insurance is BETTER than what YOU have with the VA, by far.

and, I didn't even get into the life insurance, etc.

You can do it. But, you gotta study and plan your moves.

[blackbird]

I know how this comes across. If im disabled then I should lower my standard of living and quit complaining. I completely understand that. However Im in a bit of a bind.

I am rated at 90% right now for several herniations in my back, and bilateral Avascular Necrosis, and Crohns disease.

I can no longer work I am virtually killing myself. I take medication to knock out my immune syatem yet Im a Respiratory therapist! I am very high risk for disease.

Here are my questions

If I file IU I will take a pay cut from 55K to 10 K a year plus lose a matching 401K plan. I dont know that I can support my faimily of 4 with this pay cut. What kind of SS benifits would I quilify for to supplement this income?

Also is it hard to get 100% IU P+T. This would reduce my taxes by $450 a month this would be a great savings.

Thank you for your help.

Hey Redspot321,

If part of your family of 4 is children, don't forget that if you are awarded SSDI you will also get money for each of you children. That means that the two children could add about $700 to $800 per month to the amount you receive. The children get this until they graduate high school. It's my understanding that you get a certain amout for all the children still in school. If it's for example 800 total with two children, each would get 400 per month. If there is only one child, that child would get close to 800 per month.

Blackbird

[john999]

Does your spouse work if you have a spouse? If you take IU and your spouse works you would do even better. If you die without being 100%, or IU you family will be much worse off than if you take IU or 100% and live another 30 years. Your spouse gets DIC that way. Otherwise, your spouse may get nothing unless you die from SC condition. You could stay at home and take care of the kids and spouse could work. You would be getting decent money for VA and SSD and spouse would be earning. If spouse is not there or can't work it would still be about the same if you take into account what Pete and Larry have said. I make more now on SSD and 100% than I did when I worked at the Post Office. It is all tax free. You figure 30% of your gross goes to taxes and SSA and medicare payments.

[Pete53]

If you have children SSD pays 1/2 of what you get to help take care of the kids.