Social security will be fine if the income limit is removed. Infact, the tax rate could be lowered if the if the income limit is removed. I admit private accounts are appealing but the problem is that if the younger generation gets private accounts, they will have been snookered into paying twice--once for themselves, and once for the older generation.
Originally posted by 667joeI don't care what you think of social security, if you're not making financial plans in addition to SS, you're crazy.
Social security will be fine if the income limit is removed. Infact, the tax rate could be lowered if the if the income limit is removed. I admit private accounts are appealing but the problem is that if the younger generation gets private accounts, they will have been snookered into paying twice--once for themselves, and once for the older generation.
just get rid of social security why do we need it? why are we forced to save for the future in a way that gives us much less money out than we ever put in
my dads bout to retire and if he lives to 85 he will get out (assuming it has not collapsed by then) roughly 1/9 of what he put into it thats crap if he had that money in the private sector our family would be much more well off than we are today but noo gotta put money into so the dumbarse people who didn't save will have our money to spend
Originally posted by scipio7777777Is that what the math works out to? 1/9? I put in 9000 bucks and
just get rid of social security why do we need it? why are we forced to save for the future in a way that gives us much less money out than we ever put in
my dads bout to retire and if he lives to 85 he will get out (assuming it has not collapsed by then) roughly 1/9 of what he put into it thats crap if he had that money in the private sector our ...[text shortened]... ut noo gotta put money into so the dumbarse people who didn't save will have our money to spend
as you are assuming, you retire at 65, then by 85 you have only
one thousand? Sounds a bit low to me.
I have to do the math sometime, I just got a SS statement, I am
63 so cant retire for 2 or more years but one odd thing I did see
was if I wait 5 more years from 65 I only get about 7% more,
like retiring at 70. It says my SS would be about 1800/month at
65 but only 2200/month at 70. Assuming I work those five years
it seems odd that I would only increase my SS by 5/7 % per year.
That is only 0.7 % per year increase. Maybe you are right, we get
totally screwed. What the hell is going on here? BTW I know I can
half-assed retire now but don't think I want to live on 900 bucks a
month or whatever it is when you check out at 62 1/2.
Even if I keep this job till I am 70, unlikely, and retire with 2200/month
I will still have to have another job. The thing is I had
about 250,000 in a retirement fund 5 years ago but the dot.com
bubble made that go down to about 30,000 so now I am left
with my thumb up my ass. That 30000 is long gone for bills now,
so I only have about 17K from my new job saved up, Which sucks.
I am totally screwed no matter what happens, am destined to lose
the house we have lived in for 23 years, it seems inevitable.
Originally posted by scipio7777777With all due respect, I think you are wrong. Your Dad will receive far more than he put in if he lives to 85.What would have happened if he had died while you were a small child and had not had time to save much?You would have been out on your butt and people like you would say tough!
just get rid of social security why do we need it? why are we forced to save for the future in a way that gives us much less money out than we ever put in
my dads bout to retire and if he lives to 85 he will get out (assuming it has not collapsed by then) roughly 1/9 of what he put into it thats crap if he had that money in the private sector our ...[text shortened]... ut noo gotta put money into so the dumbarse people who didn't save will have our money to spend
Originally posted by sonhouseWhat if in addition to your other loses you had no social security guaranteed to you for life no matter what?
Is that what the math works out to? 1/9? I put in 9000 bucks and
as you are assuming, you retire at 65, then by 85 you have only
one thousand? Sounds a bit low to me.
I have to do the math sometime, I just got a SS statement, I am
63 so cant retire for 2 or more years but one odd thing I did see
was if I wait 5 more years from 65 I only get about 7% mo ...[text shortened]... what happens, am destined to lose
the house we have lived in for 23 years, it seems inevitable.
Originally posted by 667joeDon't think its guarunteed for life, congress and senate could deem
What if in addition to your other loses you had no social security guaranteed to you for life no matter what?
it redundant, drive it to the private sector to live or die on its own.
Then 5 years later when it bankrupts, congress will have washed its
hands of it. I am not depending on SS at all, be crazy if I did.
Besides, I would be making only about 1/3 what I am making now,
so I will do this job till I can't do it any more or get laid off.
Originally posted by kirksey957Well said.
I don't care what you think of social security, if you're not making financial plans in addition to SS, you're crazy.
I have a deluxe retirement all layed out. I'm gunna work till I'm too old then make a living as a gigolo in an old-fart castle, aka, assisted-living center. The most difficult part of the plan is hiding my secret life from my wife. Ahem.
The problem seems, to me, to be the fact that everyone is paying taxes so our governments can buy ever more expensive weapons to kill civilians in foreign countries.
The US alone spends BILLIONS of dollars on weaons each year.
That money comes from the tax payer.
Those same taxes could be used to secure a proper welfare system, a health car system and a proper benefit system for the elderly.
By the time I've worked 50 years (heaven forbid, I hope I die sooner), I want to be able to sit back and relax. I want people to be proud of what I did for my country, continent and world.
I don't want to have to worry about my 65th birthday when I'm 34! I pay taxes....get it bloody well arranged! Don't hassle me with the future.
Originally posted by shavixmirWelfare system? Now there's a great plan. One really needs to support drugged out kids with a hundred holes in their nose. Sounds like that is the best plan by far.
The problem seems, to me, to be the fact that everyone is paying taxes so our governments can buy ever more expensive weapons to kill civilians in foreign countries.
The US alone spends BILLIONS of dollars on weaons each year.
That ...[text shortened]... ....get it bloody well arranged! Don't hassle me with the future.
"Health Care System"? I got one thanks. It costs me about fifty dollars per year. I call him "Doc". Every time I go to use his services, I call him "doc" and pay him for the services I use. And because I pay cash, I only pay about a fourth as much as everyone else.
So when you gettin' yer first job then? If you are going to work for fifty years, you better make a start. The good part is that should you ever "retire", you'll be real good at the "setting back and relaxing" part.
Oh yea. What's the thing with "continental nationalism"? Kind of like PC nationalism?
Let's get one thing straight. Whatever our government comes up with, S.S. reform as an example, it's not for you or me, the little people. It's for CORPORATE America, i.e. big Oil, big Medicine, big Wall Street. And in turn, through lobbys, campaign funds, corporate donations, etc., for the people who hold office in this country. If you want them to squirm, demand the same retirement benefits as they get when they retire. Do you think they care aabout S.S., Medicare, prescription drug coverage? If you do, there's a bridge in Brooklyn I'll sell you, real cheap.