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Social Security’s retirement age is moving to 67. Some experts say that could go even higher
CNBC ^ | 3 April 2022 | Lorie Konish

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 ...


TOPICS: Crime/Corruption; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: age; entitlementspending; goingnowhere; medicare; ponzischeme; retirement; security; social; socialsecurity
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To: hercuroc

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%).


21 posted on 02/07/2023 7:47:52 PM PST by Brian Griffin
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To: Governor Dinwiddie
Imagine if all your SS payroll taxes had been invested in an index fund.

Makes me angry every time I do ...

22 posted on 02/07/2023 7:48:36 PM PST by NorthMountain (... the right of the peopIe to keep and bear arms shall not be infringed)
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To: hinckley buzzard

I would like not having to touch investments until 75...


23 posted on 02/07/2023 7:49:55 PM PST by Adder (ALL Democrats are the enemy. NO QUARTER!!)
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To: NorthMountain

Many people forward much of their Social Security money to the local school district at real property tax time.


24 posted on 02/07/2023 7:50:20 PM PST by Brian Griffin
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To: MeneMeneTekelUpharsin
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.

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

25 posted on 02/07/2023 7:51:54 PM PST by Tolerance Sucks Rocks (FBI out of Florida!)
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To: MeneMeneTekelUpharsin

Looks like I finally timed one right. By the time they bump it to 67, I’ll BE 67 . . .


26 posted on 02/07/2023 7:52:01 PM PST by BraveMan
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To: metmom
… 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.
27 posted on 02/07/2023 7:52:46 PM PST by eastsider
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To: NorthMountain

Not to mention we all get thrown onto Medicare at 65 whether we want to or NOT! Talk about the gov’t taking over!


28 posted on 02/07/2023 7:53:02 PM PST by princess leah
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To: NorthMountain

My uncle lived to 101.

He was a ‘notch baby’ but he probably recovered his contributions and more in real terms.


29 posted on 02/07/2023 7:53:23 PM PST by Brian Griffin
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To: MeneMeneTekelUpharsin

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.


30 posted on 02/07/2023 7:53:37 PM PST by Texas Fossil ((Texas is not where you were born, but a Free State of Heart, Mind & Attitude!))
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To: MeneMeneTekelUpharsin
Social Security’s retirement age is moving to 67. Some experts say that could go even higher

According to the Social Security Administration's website, it's ALREADY 67 for anyone born in 1962.

31 posted on 02/07/2023 7:54:21 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: Brian Griffin
money to the local school district

I'm very much on record, on this forum, opposing the very existence of government schools and the property taxes which support them.

32 posted on 02/07/2023 7:54:28 PM PST by NorthMountain (... the right of the peopIe to keep and bear arms shall not be infringed)
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To: Brian Griffin
he probably recovered his contributions

What an amazing return on investment ...

NOT.

33 posted on 02/07/2023 7:55:28 PM PST by NorthMountain (... the right of the peopIe to keep and bear arms shall not be infringed)
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To: Duke of Milan

Bump.

Such an evil plot.


34 posted on 02/07/2023 7:55:45 PM PST by Texas Fossil ((Texas is not where you were born, but a Free State of Heart, Mind & Attitude!))
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To: Adder

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.


35 posted on 02/07/2023 7:58:53 PM PST by week 71
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To: MeneMeneTekelUpharsin

“Healthy Lives
Disabled Lives
If eligible for Social Security disability benefits
If not eligible for Social Security disability benefits”

https://www.pbgc.gov/prac/mortality-retirement-and-pv-max-guarantee/erisa-mortality-tables/erisa-section-4044-mortality-table-for-2023-valuation-dates


36 posted on 02/07/2023 7:59:47 PM PST by Brian Griffin
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To: plain talk

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?


37 posted on 02/07/2023 8:02:43 PM PST by Saintgermain
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To: Brian Griffin

#11 At 67 years 6 months I would get a bit over $2,000 a month. At 70 I would get $2,600+.


38 posted on 02/07/2023 8:02:47 PM PST by minnesota_bound (Need more money to buy everything now)
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To: MeneMeneTekelUpharsin

I thought it was already that high.


39 posted on 02/07/2023 8:03:35 PM PST by luvie (🇺🇸The bravery/dedication of our troops keeping us safe & free make me proud to be an American.🇺🇸)
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To: Saintgermain

Thanks! Your memory is better than mine. I did not know that vote was so close.


40 posted on 02/07/2023 8:05:38 PM PST by plain talk
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