[Question] Bring my parents to USA

[NikLR 13,227]

It will take about 12-14 months currently for your parents.  Its essentially the same process as a spousal visa but with different documetation needed.  

 

 

[Crazy Cat 41,888]

6 hours ago, Zzyzx said:

401k's are VERY EFFECTIVE in planning for retirement.  And the monies paid into them don't go to the government rather into mutual funds.  If you do your homework and pick the right funds you can rack up money pretty fast.  

Exactly.  And if you have an employer who matches the employee 401K contribution dollar-for-dollar, it's the equivalent of free money.....it was a great feeling to see a $500 contribution from my paycheck immediately become a $1000 addition to my retirement account..........I effectively gained a 100% return on my money.

[AshMarty 360]

18 hours ago, CutePuppy said:

we should have an individual data from the IRS indicated how much this person has paid for the work period, then the total amount will be correlated to the benefits they will be eligible to claim.   Since this is so not fair for the people who started working after college (21~23 years) and paid for 40+ years of tax compare to those who just work for 10 years.

 

The Healthcare + 401k and many other "prepare for retirement" plans are almost ineffective for new generations (a legal scheme)  in my opinion, this is not just USA but many other countries too.   Feels like government are hoping to ask money from you and do not wish to pay the money in the future (hope people do not live or claim after they are 75 years old, as an example)

 

 

Anyways, outside of what the original topic that I want us to discuss here..  

 

Thanks

 

Social Security: you can actually go to the IRS website  (?) (I found the website about a year ago )and see how much you paid into the system and based on what you paid into the system you can get an estimate on what you will receive monthly in retirement. Per the SS web page here is a little explanation on how you pay into the system. 401ks are very effective and important for most Americans. I contribute contribute 8% and my total contribution monthly is 14% because my employer gives me  free money to invest. In the US your employers benefits package  are so important; a job salary and a benefits package should be equally weighed in on while looking at employment (Retirement and health care at minimum in a benefits package, we had a class at just looking at benefits package in school because they are so important). https://www.ssa.gov/benefits/retirement/estimator.html

 

Health care may seem ineffective in the US but it is the way the US system works. You have to be able to adapt to the system here in order to be successful within it. That is why people seem concerned. The US has a unique system in this way.  ** I live in a high immigrant neighborhood, for example yesterday I was the only one speaking English in the Bank 2 blocks from my house (there were about 20 ppl at the bank). I went to my pharmacy to pick up a prescription and a family was in front of me. The mother didn't speak English well so she had the 8 year old boy talking to the Pharmacist. They Pharmacist was trying to explain the script they are picking up was 650 dollars because they didn't have insurance. The family wasn't able to pick up the medicine. ** --> This is why people want to make sure people immigrating to the US know how the US medical system works.

 

 

 

Edited February 4, 2018 by AshMarty

[Boiler 45,525]

I speak English and I also speak Insurance.

 

And I could not believe how screwed up the system really is.

 

So what chance would someone who sepaks neither have?

Edited February 4, 2018 by Boiler

[NigeriaorBust 4,087]

   Even if someone works the 40 quarters to get a social security check it would be pretty small. Social security is based on the 39 years you earn the most and the 29 years of 0 averaged in would make for a very small check.  

[SusieQQQ 11,586]

8 hours ago, Zzyzx said:

Makes total sense, if you pay more into a system you should get more out.  Especially in the case of Social Security where you are obligated to take part in a terrible retirement plan.  When did logic ever get in the way of anti-rich propaganda?

 

 

A major point of “social security” is the rich subsidizing the poor, it’s a welfare net.  “Income derived from Social Security is currently estimated to have reduced the poverty rate for Americans age 65 or older from about 40% to below 10%”. It was never intended to be a proportional payout system in the way that a private retirement option is. Wealthy people don’t rely on social security obviously  !  You may not like it, but yes even the US has some form of welfare net, even if it’s nowhere near Europe.  Which I for one am very happy about.

Which is also part of the reason people get upset when people who have never contributed, or not contributed much, immigrate to the US at an advanced age and expect to use it. Hence the question that boiler raised initially. OP says this was not their intention but admitted needing to do more research into elderly healthcare costs.

 

anyway OP better get their forms in before Trump does away with this category.

[Boiler 45,525]

I was not talking about Social Security as it seem most will not get it, or would be very minor.

 

Now if they have their pension to bring over that helps, but more the Medicare angle, buying in after 5 years which is $500/ pm each plus as lots of costs Medicare care does not pick up is a big chunk of change for most people, obviously not all.

[SusieQQQ 11,586]

2 minutes ago, Boiler said:

I was not talking about Social Security as it seem most will not get it, or would be very minor.

 

Now if they have their pension to bring over that helps, but more the Medicare angle, buying in after 5 years which is $500/ pm each plus as lots of costs Medicare care does not pick up is a big chunk of change for most people, obviously not all.

Ya, the social security/Medicare thing got conflated. Bottom line most sponsors of parents don’t realize how expensive it’s going to be.