Posted on 08/07/2022 4:53:44 PM PDT by george76
“… paid for?” Two ways: 1. more inflation and 2. higher taxes on the hard working who actually pay taxes.
The unfunded liabilities at 170+ trillion includes Social Security and Medicare (?) I believe
Its an election year, so Mittens is probably wrong about that.
Actually that is not correct. Working couples who both worked long enough to accumulate 40 credits each (about 10 years of work) will end up getting their own checks.
When one of the spouses die, the other will either continue with their check or they can claim spousal benefits and claim the check of their deceased spouse if that was higher.
My wife turns 62 this year and I'm debating having her claim early as she only works part-time and is basically retired. Even though I have a large income, it won't affect her so long as she herself does not make more than $19,500 working (which she won't). Then I can work a few more years to get to FRA and file for a much larger amount, which she can switch over to once I kick off.
The 5.9% COLA is from 2022. Current estimates for 2023 is already at 10.5%.
Yes but the boarder jumpers have SNAP cards that you paid for. They can afford it because you can’t. I know it gives me a warm feeling inside to know my hard earned money is going to improve illegal aliens’ life styles - just because they’re criminals here to rob the taxpayers doesn’t mean that we shouldn’t work extra hours so that they can afford flat screen TVs and the best of viands while we take out a mortgage on a package of hamburger.
I think I can see the windmill.
Even if a couple is divorced one can claim the higher check that was. paid to a deceased ex as long as they were married for 10 years.
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There is a surprising amount of complexity with regard to the best ways for collecting your Social Security benefits. I just finished a 200+ page book on it and my head is still spinning!
Bottom line is that there is no one best way. Everybody's situation is different.
I think you’re right.
I don’t understand how the politicians and power brokers can sleep at night and live with themselves.
They will traditional. But I can’t see how they can do the Roth. We’ll see.
“Oh really? I did not leave out a conditional. “
Yes, you did.
And how much of this will go to illegal criminal invaders?
They simply don’t care about the rest of us
Just like Sri Lanka
“Most seniors have pensions and paid off homes……I personally don’t know any who just depend on SS.”
THAT’S the way our generation was taught : get a good education, get a job, live within your means, do NOT owe money to ANYBODY, and SAVE for the future! Buy a house and pay it OFF early!! THIS will take you about 30-years of hard work and sacrifice, better to start later than never .. . I know THIS sounds so terribly Colonial and racist, but we did it out of ignorance and ONLY had two genders back in my youth .. .
SS was NEVER meant to be the SOLE source of income for retired people. I retired when I was 62. I’m 70 now and just STARTED collecting SS .. .
NOT surprisingly, the DEFINITION of, “Social Security”
has evolved to mean, “Social Security : so you can afford to eat dog food.”
Hey, maybe dog food is THAT expensive, I don’t know, I have 4 cats, and it’s a small fortune just for their twice-daily gourmet snacks .. . my SS check just about covers that .. .
That is how they will keep their “promise” to retirees. Social Security will still be there, but a loaf of bread will cost $200 due to inflation.
As for the idea of everyone planning their own retirement, that’s great except that companies like to lay people off in their fifties. At that point, it is difficult to find another job. Hardly anyone is prepared to stop working at 55 and live off what they made and saved up to that point.
Go after the lazy who are on welfare.
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