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Showing results for tags 'Social Security'.
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My wife is itching to start working after being holed up with the baby for quite some time. We were thinking about her going back to get an associates degree or some sort of certificate like IT. And then literally the next day her friend who works at a Chinese restaurant calls to tell her that her restaurant is looking to hire someone - apparently she averages close to $25/hour (!) per week with cash tips, scheduling is flexible (weekend-only work possible for example), and the clientele is generally easy to work with, mostly college students. At this point we're thinking she can just work part-time for 40 quarters so she's eligible for some social security and medicare, and then call it a day. My salary more than covers our living expenses, so whatever she makes we'd basically throw at our mortgage. Also my wife will turn 40 this year, so whatever further education she decides to pursue, well, there's not a ton of time for a large ROI. I know there have been a few job threads over the years here, but I'm curious how you all have handled this issue.
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My wife has been here in the States for quite a few years. Before she came here, she had contributed to the Chinese security system for a few of years. She has a green card now, but she hasn't contributed anything to her Chinese social security account since she arrived here 6 years ago. Now she wants to make up and makes a lump sum contribution, because she would be eligible to receive Chinese social security payments at the age of 50. The current monthly contribution is 400 RMB, but the benefit is about 1,000 RMB a month when she starts receiving benefits. Is this worth it? Does your wife (spouse) continue to contribute to her SS account in China? I think this may make sense if you or your wife plan to spend some retirement time in China. Any thoughts or experience would be appreciated.
