Posted on 06/10/2022 9:39:36 AM PDT by blam
Yet everyone else wants to push it further down the road from me. Why should I be held responsible for someone else's retirement? If you're 55 and older - you get it; 54 years 364 days and younger- get rid of it....pay for your retirement yourself.
“At the same time, welfare never runs out of money.”
—
Or War, don’t forget War.
We have to fight for “freedom” in some God forsaken county that hates us and where 1/2 our population can’t find on a map.
“All this is why I recommend those who reach 62, apply early for SS, which they paid into and is NOT a welfare program that many say.”
—
Almost all professional financial planners tell you to wait as long as possible to collect social security benefits because you’ll get a higher payout.
They don’t tell you that you are assuming the risk of dying before you actually get more money or the risk of the program actually being broke before you can collect.
They also try to sell you on letting them manage your personal assets. (Assets under Management). But they get paid if you make money or lose money.
The above is why I manage my own retirement and am doing very well.
As angry as it makes me have to agree in principle.
I’ve paid the max for almost 25 of the >35 years I’ve worked and I’ll be shocked if I get a penny back by the time I am old enough.
Yup. Did the same, but then, we think alike, no? ;-)
This is a large part of why the government promotes the invasion.
We are a ticking timebomb with multiple detonators.
Does anyone have any suggestions about Medicare sign up? What supplemental insurances tend to look good for a healthy (no meds) person?
Asking for a friend. No, really!
how many retirement funds are 100% invested in treasuries?
only one, your social security payments
congress wont give that up cuz they get to spend the money
its the briefcase full of IOUs in Dumb and Dumber
there oughta be a MEME
You are totally missing the point on Social Security.
The tax has nothing to do with the expenditure.
Nothing.
The government can do whatever it wants to fund whatever it wants—or it can borrow whatever it wants.
There are no rules.
There are just the rulers and the ruled.
In the land of the oligarchs “public policy” is an illusion.
Don’t fall for their scam.
This is not just an American problem, but an issue for every nation that takes care of it’s elderly funded by it’s young and experiencing declining birth rate...meaning every European and many Asian countries. It well may be the impetus for World Government. I hope I’m not around when it all comes crashing down, but young folks deserve to fashion their own world.
I’m in the same boat as you since I’m 52. The program....if we were ever going to have one....was set up wrong from the beginning. It should have been save your own money and invest it in certain approved investment vehicles (ie the government approves certain safe investments to keep out all the swindlers and thieves).
But of course that’s not how it was. It was payouts immediately paid for by people working now. Great if people keep having big families but that stopped AND people started living longer thanks to medical advances. So now the whole thing is unsustainable.
But......what to do now? It would be totally unfair to just pull the plug now that I was FORCED against my will to pay into it for the last 30 years. They’ll have to raise the retirement age or slash benefits or massively raise taxes or some combo of all of the above.
If SS kept it’s $$ in its own account, instead of the general fund, it’d be a lot better off.
What we should do is give every citizen a one-time payout option: if taken, you’re dropped from SS permanently, but the total amount you’ve paid in, plus 2-3% interest, is given to you in an IRA or other retirement account. Get everyone out of SS and it’ll no longer be insolvent - it’ll be gone!
Not really sure what part of the Constitution even empowers FedGov to run a Ponzi retirement scheme anyway...?
Will this mean the state pensions like in California will be cut by 20%...?
Nope, the contract says the others in the state that are not state employees have to pay extra from their pay to pay the huge state pensions...!!!
How Three Texas Counties Created Personal Social Security Accounts and Prospered
https://www.forbes.com/sites/merrillmatthews/2011/05/12/how-three-texas-counties-created-personal-social-security-accounts-and-prospered/?sh=208f0c683283
And those who retire under the Galveston model do much better than Social Security. For example:
A lower-middle income worker making about $26,000 at retirement would get about $1,007 a month under Social Security, but $1,826 under the Alternate Plan, according to First Financial’s calculations.
A middle-income worker making $51,200 would get about $1,540 monthly from Social Security, but $3,600 from the banking model.
And a high-income worker who maxed out on his Social Security contribution every year would receive about $2,500 a month from Social Security vs. $5,000 to $6,000 a month from the Alternate Plan.
“This article is more than 10 years old.”
If the politicians did what the article said was done nearly 40 years ago we would all be doing great in retirement.
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