Posted on 02/07/2023 7:21:17 PM PST by MeneMeneTekelUpharsin
Many Americans eagerly look forward to a time when they can stop working and officially set their status to “retired.” But when asked what age they anticipate that could be, there isn’t a consensus. The average age when people say they hope to retire is 62, according to one survey.
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Meanwhile, the House of Representatives last week approved a retirement bill that would push out the age for required minimum distributions on certain savings accounts to 75, up from the current age of 72. That change, if it passes the Senate, would be gradually phased in by 2032.
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Retirement ages were last altered in 1983 under then-President Ronald Reagan. Those changes, which raised the full retirement age to 67 from 65, are still being phased in today. Even just the bump up to age 66 from 65 represented a 5% benefit cut, Elsasser noted.
Read more at the link.
(Excerpt) Read more at cnbc.com ...
However, they are already planning to extend the retirement age again. Someone needs to wake up the younger people as to why there needs to be an out and out rebellion if such is even put on the table. It is literally indescribable to try and explain how it feels at a late age knowing you will face a 50% tax on income exceeding the Social Security cap if one earns over the income limit SSL puts on you for retiring early.
It must be DEMANDED THAT CONGRESS RETURN THE RETIREMENT AGE TO 65 AND IMPLEMENT TAXES OR WHATEVER TO PAY FOR IT!!! CONGRESS DOESN'T HAVE ANY PROBLEM WITH THEIR RETIREMENT PLAN. THE RAGE FROM THIS LITTLE CORNER OF THE WORLD OVER THIS CAN NOT BE DESCRIBED.
It was a Ponzi scam from day one. They are merely extending the day in which it finally caves in. FDR bragged about how Republicans could not kill his scam in 100 years. Getting people use to being on the Government dole is how we got into our current mess.
Most people are highly advantaged if they delay SS retirement benefits till age 70 anyway, so a change from 65 to 66 to 67 would be irrelevant to many.
I would say there is a 99.9999% probability they will not lower the retirement age to 65. People are living longer so they will keep increasing the retirement age over time.
What is discouraging to me is how much they tax you simply for receiving your SS benefits.
I believe that cutting the federal workforce by 50% and cutting the federal wages by 50% would allow the Soc Sec system to go back to its original age levels and be fully monetized...
In addition, remove/terminate all separate retirement systems for the politicians who vote on these kinds of laws and regulations...
Let them subsist on Soc Sec alone...
Given the damage from the mRna, there will be far far fewer people getting any ss benefits.
I don’t think that the Snowflake and Zero Generations care if there is Social Security or not when they grow up. Most plan on not working and can always do a GoFundMe page if something like a Beyonce concert with “unaffordable” tickets comes up and they need money to go.
..... Well ... Isn't part of the plan also to move the maximum payed out age to 72 ... possibly higher instead of the current 70?
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This will be characterized as racist.
“Most people are highly advantaged if they delay SS retirement benefits till age 70 anyway, so a change from 65 to 66 to 67 would be irrelevant to many.”
I think for me the optimal time is my full retirement point of 66 years and eight months.
I think you get about an 8% decrease for each 12 months taking SS early, but only a 5% increase for delay past the full retirement point.
Original Social Security retirement age was 65 years old in 1938. Average age of death in1938 was 62 years old. Was a scam from day one.
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What’s really important is that we spend Trillions to Ukraine,
And let’s Send more money to the Big Cities so they can continue to pay people not to work and spread the money around to Dem Non-profits and DA that like crime and criminals.
And we have to fatten the big unions - we have to get money to them. They vote.
We need BLM and Antifa programs in elementary and pre-school.
It’s very obvious what is important to them.
That’s what I had heard, but considering my health, the economy, the corrupt government, their plans on nuking SS, I decided that I’d rather take what I can get now while I can still get it than wait and be cheated out of it by the government.
A single man who earned an average income and reaches average life expectancy will pay $405,000 into Social Security and Medicare and receive $573,000 in benefits.
Can’t beat that 1/2% interest rate.
Geez man, easy on the caps.
Social Security is a ponzi scheme. We all know it. Americans live longer, and there’s no free lunch. “Implement Taxes or whatever to pay for it”. There’s a Democrat talking point if I’ve ever heard one.
And if you want to retire at 65, retire at 65. You’ll still get Social Security. Just not quite as much as you would at 67.
Some occupations are more physically stressful than others.
People might be allowed to invest via their employer & Social Security in say their state pension fund or a mutual fund meeting SSA requirements.
I retired in 2017 at the required age of 66. Medicare qualifiction was age 65.
That damned fascist knew he could buy almost everybody's soul with his evil scheme.
It's disgusting.
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