Following answers are only opinion of the Movement Founder. You do not need to agree.


1. How much I need to have before I can become a full member without jeopardize my retirement?

Answer: Please see “ Financial Issues” in the Advice Section of this website.

2. When I become a member that is I delay my retirement and donate all my salary, do I have to donate my bonus, my company’s 401 K contribution, and my tax benefits?

Answer: When people learned someone is claiming that he or she delays retirement for other people, they would expect that member is donating all the benefits of not retiring in financial terms. Therefore to be a full member of this Movement, it is required to donate all the salary, bonus, 401K contribution, and tax benefits. If you decide only to donate all the salary, but not the others, then you are only qualified as a Junior Member.  

We do not require our members to donate other incomes has nothing to do with their employment earnings i.e Pension payments, interest from saving, stock gains, etc.

3. Should I let other people know that I am a member of this Movement?

Answer: It is your discretion whether you want to let only certain people know or the general public. The Movement will not authenticating any such claim since we have no prove that anyone has actually fulfill the requirement. It is recommended that you will let your immediate family know since they will be affected by your decision.

4. If I give part of salary, bonus, etc to my direct family, i.e. my own kids to help them financially, why it makes me not qualified for this Movement as Full member?

Answer: It is conventional for parents to help their kids financially even after the kids becomes adults. Vast majority of parents in the past accumulated wealth for their children which is not what this Movement is promoting. Help distant deserving relatives is OK but the percentage should be reasonably low. Otherwise you are delaying your retirement for your distant family, not for “Others”. When I help some of my distant relatives, I told them these are interest-free loans only and when they have money they should donate it to their charities. Otherwise I just take it out of my regular savings.

This Movement is NOT discouraging people to help their own kids. We just think it should be done with their regular fund/saving. Otherwise more than half of the population will automatically become our members.

5. How can I deal with my salary, bonus, and other benefits during my delayed retirement period as a member?

Answer: The best way is to have a separate checking accounts for all the money received from your employer. Before the year end, you need to estimate the future paycheck amount before the year end, the tax benefit, the 401 K amount that went to your regular 401K account and then transfer the  balance to your new separate account and then donate before the year end. After April 15 at the following year, you should re-estimate your tax benefit and make corresponding fund transfer accordingly.

6. How do I know how much is my tax benefit due to my delayed retirement?

Answer: First calculate the tax refund amount with the salary, bonus, 401K deductions, social security, and donations. Then recalculate the tax refund amount without your salary, bonus, 410 deduction, social security deduction, etc. The difference should be the tax benefit. It depends on your  family’s other incomes.

7. Should I combine my regular donations that I have been doing in the past years to this new donation strategy?

Answer: I suggest not. For people Joining this Movement as full member, The new donations should be treated in addition to what you would donate as a fully retired person. The old donation amount should be determined by assuming you are fully retired without your salary and benefit.

8. How about the medical insurance benefits that my company contribute?

Answer: For simplicity, it is recommend NOT to include it in your donation calculation. Normally you need to pay for the premium and you will pay cost for computing, lunch, and office apparel which can be considered as wash.

9. When should be the best time for me to start taking Social Security checks?

Answer: Normally it depends on your health and financial situations. For healthy and financially well prepared people, the convention wisdom is not taking Social Security until you reach your full benefit year. For our members, taking Social Security check before reaching full benefit age will result very heavy penalty. For men it may be best to take the Social Security check once they reach the full benefit age since men’s life expectancy is averaging 76. For women, it may be best to delay taking social security until they are actually retired. Every year you delay taking the social security after reaching the full benefit age, the monthly payment will be increased by 8%.

For women member who are married, it is best to start taking the spouse benefit (paycheck equivalent to half of husband’s social security amount) once they reach the full benefit age and once reach age of 70 switch it to their own social security paycheck amount.  This only works if the husband is taking the social security when the wife apply. Once the wife is taking the spouse benefit, the husband then can discontinue his social security payment right way and accumulate  his social security credit. for 8% a year.   

10. If I delay my retirement trying to help other people, why I become automatically member of your Movement?

Answer: This founder of this Movement is of course by far NOT the first one who delayed the retirement for other people. For centuries, a lot of people actually living their most or entire adult life for other people, i.e. missionary, clergy of many religions, etc.  The idea of this Movement is nothing new. The founder merely wants to promote it. You cannot become a member of this Movement because you apply for membership or we accept you as our member, only your action is doing it can make you a member. When you delay your retirement regardless due to of our promotion or your own conviction you are in agreement with our idea therefore you become a member of this Movement automatically.  

11. If you discourage to give part of salary, bonus, etc to political organization or superfund?

Answer: Our members are free to give any of your Regular income or saving to any political organization or superfund but not with their salary and benefits from employment. When you donate to political organization, you are trying further your own political belief or interest instead for “Other People”. Donations to any religious cause using your salary and benefits are OK since their purpose is to save other people’s soul or for other people welfare.

12. Some people in the past already delaying their retirement so they can increase their donations significantly. What is special about this Movement?

Answer: There is nothing new under the sun. We just want to promote the idea more. Instead of just donate part of the earning, we are asking people to donate ALL the earnings. 

13. Why you want to promote this Movement while most people have lost a lot of net worth in last 3 years and current unemployment rate is so high?

Answer: If this is a good idea to help other people, why should we wait just because we want to be popular? This Movement is not emphasized in getting people to become member now since vast majority of people now are poorly prepared for retirement financially. Our emphasize is to encourage younger and mid-career people to first realize the anticipated expenses of long time retirement, and to develop sound ways to save more for future retirement by better managing of their funds, and by limiting their expenses on luxury or wasteful items.  

Lately mankind become more and more materialistic, self- centered and lack of purpose for their own life. We have better machines, higher living standards and various entertainment but we are much less and less happy. We need to change.

14. I like your idea of this Movement. Anything I can help for the Movement?

Answer: One way is to let this Movement be better known to the general public through the Internet.   Second way is to volunteer to help us write letter and mail to the CEO of big corporations and organizations to convince them to be our sponsors. We need them to notify their employee of the idea of this Movement by company E-mail.

© Delay Retirement for Other People 2012

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