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.
SNIP
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.
SNIP
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 ...
Is that a .5% after inflation interest rate?
I think I-bonds have a .4% premium to inflation.
I’ll be looking to invest my recent inheritance in dividend stocks.
Banks are only offering 4% CDs for a few years (when inflation is around 10%).
Makes me angry every time I do ...
I would like not having to touch investments until 75...
Many people forward much of their Social Security money to the local school district at real property tax time.
I'm fine with retiring at 75. Either the Social Security/retiremen system gets fixed, or it either collapses or pays out much less.
You can evade reality, but you can't evade the consequences of evading reality. -- Ayn Rand
Looks like I finally timed one right. By the time they bump it to 67, I’ll BE 67 . . .
… 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.The last thing I’l be concerned about when I stand before the judgment seat of God Almighty is whether I maximized my social security benefit.
Not to mention we all get thrown onto Medicare at 65 whether we want to or NOT! Talk about the gov’t taking over!
My uncle lived to 101.
He was a ‘notch baby’ but he probably recovered his contributions and more in real terms.
Covid was just another plot to kill off those who contributed so they can continue to line their own pockets by faud and schemes.
DC is Evil.
DC is Corrupt.
It is a fatal combination.
Solve this?
Restore the Contitution
DownSize DC.
According to the Social Security Administration's website, it's ALREADY 67 for anyone born in 1962.
I'm very much on record, on this forum, opposing the very existence of government schools and the property taxes which support them.
What an amazing return on investment ...
NOT.
Bump.
Such an evil plot.
Understand. However at around 50 I plan on not having too much when I retire when I am too tired to hike the trails, ski the slopes, canoe the rivers and bike the paths ect. After 70 I think I want to grill in my backyard, spend time with the grand kids and sip on some spirits.
“Healthy Lives
Disabled Lives
If eligible for Social Security disability benefits
If not eligible for Social Security disability benefits”
I remember very well when it came up for a vote to either tax or not to tax social security, which I feel and believe shouldn’t be taxed at all, the vote was a tie. And guess which dumb A$$ was the tie breaker? No one else but that brilliant Al Gore who was vice president at the time. Doesn’t that make you feel good?
#11 At 67 years 6 months I would get a bit over $2,000 a month. At 70 I would get $2,600+.
I thought it was already that high.
Thanks! Your memory is better than mine. I did not know that vote was so close.
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