“So those of us at 54 are screwed again. What a great country!”
I ALREADY know that I’ll get ‘screwed’. I have a decent level of savings and a decent pension coming (assuming that Obama doesn’t crash the dollar first). I FULLY EXPECT that Social Security will soon become a Welfare Program with means testing, and I will lose.
But guess what - THAT IS FINE WITH ME. Sure, it means that my retirement house will be a bit smaller, and I may not travel overseas as much as I like - but THIS COUNTRY IS BROKE and the fact that I will lose everything I paid in is ok with me - since the country (collectively) decided spending my money was more important than saving it for me.
BobL
I know my social security payments will be gone whether I retire at 66, 67, or 69. What really scares me and really really ticks me off is all the current talk of the takeover of 401ks and such. I’ve been contributing to various self-funded plans since I was around 28. The key words are SELF-FUNDED. It is MY money that I have deferred the pleasures of MY labors. The mere thought that MY money would be taken and given to those that did not prepare for their retirement makes my blood boil.
That will be the straw that breaks my back.