Posted on 01/17/2023 9:24:09 AM PST by 6thavenue
Republican Rep. Rick Allen of Georgia suggested last week that he would support raising the Social Security retirement age—a policy change that would slash benefits across the board—because people have approached him and said they “actually want to work longer.”
Confronted by an advocate in the Capitol Building and asked how the GOP plans to cut Social Security, the congressman responded, “We’re not going to cut Social Security.”
But seconds later, Allen contradicted himself by expressing support for raising the retirement age, saying the move would “solve every one of these problems”—not specifying what the “problems” are from his perspective.
(Excerpt) Read more at alaska-native-news.com ...
“Why, so they can have more money to fund the war in Ukraine and start other wars. And continue to fund mass immigration?”
No. It has to be done because benfit payouts are near to exceeding the FICA tax income, causing soc sec to demand treasury make good on its IOUs. Payment for those IOUs cannot come from thin air.
Appears that way.
I know a lot of roofers and auto mechanics that want to work until they are 80. /sarc
Deer make gardening almost impossible. The only thing they seem to ignore is cannabis because it smells so horrible. We grow several things around the house but the deer even go after the tomato plants.
I love programming but I’m the oldest rat in the barn and everything falls on me. I have to break the connection because of the stress. I’ve started doing some photography and we walked on the Appalachian Trail yesterday to photograph a cemetery. I’m documenting the county’s UMC circuit churches of which there are over a dozen. I could possibly leverage that into a web site. Appalachian history sort of thing
Or because the amount it is paying out is increasing while the amount coming in is decreasing.
Yes, I know that! I just posted that I wanted the retirement age to be 60, wishful thinking on my part!
Building contractor, age 71.
Needs to review his story on this.
Anyone who wants to work longer and is able and can get a job is welcome to do just that. They can also delay SSI as long as they want to.
Have at it.
Maybe the report is out of context or something but if not the guy is subpar.
“ nyone who wants to work longer and is able and can get a job is welcome to do just that. ”
I wonder if he hires anyone in their 60s or even 50s.
“ . Payment for those IOUs cannot come from thin air.
”
Translation: We can afford to pay for trillions for schooling, welfare, hospitals illegals and hundreds of billions for Zelensky’s wish list. But not for American citizens on Social Security.
My saving grace was my 401k plan and my IRA. SS should be chump change for you to retire. If you rely on SS, you will never be able to retire. Don't even think about it. If you think $150k is real money in an IRA, you won't make it without working longer. SS is just extra spending money in Retirement.
Just like many here have posted, SS is not to be counted on in another 10 years or so. If you get a raise in SS it will be paid for with fake money from China. It won't even keep up with inflation.
If you are in your 30's-40's, budget for saving more money for your own retirement in an IRA, Roth IRA, or your 401k. If you plan to retire earlier than 62, have a Roth IRA with some money in it. If you are 50yo , living paycheck to paycheck, plan on working till you drop or selling Grandma's farm. You can save more money than you think if you don't think you have to have a $50k truck every couple of years or a vacation every year. I did fairly well as a blue collar telephone repairman with some overtime. Also learn how to trade stocks with calls and puts to draw 10%+ returns on your self directed IRA. Someone else is NOT going to love you as much as you love you. Anyone that tells you they can build your money for 10% will just lose your money until you take it back from them.
Another angle is to learn about real estate and have a couple of pieces paid for by the time you retire. Drawing rent is another plus, but just being able to sell property and put it in your self directed IRA is a must. If push comes to shove I can sell my own home to bolster my IRA to last until we are 100 yo. Realistically, my wife and I don't expect to make it much past 85. Only one relative has lived past 85 in our families. You can't plan for everything, but you can get a comfortable plan to last a reasonable time. SS will be a minor factor in financial planning if your doing it right.
THERE is NO MANDATORY retirement age.
A person can work as long as they wish/as long as they can find a job-—or make one for themselves.
The employers smart enough to KNOW that EXPERIENCE is worth more than worrying about age.
You can collect SS and continue working.
Yes, there is. U.S. Congress.
IMO-—YOU CANNOT PAY ENOUGH FOR EXPERIENCE
How about Social Security retirement be changed to something like the Thrift Saving Plan the feds have and Social Security be phased out over 30 years? If people had money actually invested many more would likely keep an eye on what the gumment is doing to their savings.
I had someone photograph my Mom and dad's stone. It's wonderful to go to Find a Grave and have a distant visit.
And the democrats did it. They are responsible for continuously raising taxes on SS benefits received by lowering the floor and AGI limits for taxability.
And the democrats did it. They are responsible for continuously raising taxes on SS benefits received by lowering the floor and AGI limits for taxability.
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