Why retiring at 65 could become a thing of the past

Flash said:
The government puts the same amount you contribute to SS into a S&P 500 index fund instead. After 40 years the worker has over $1 million. That means the worker gets more in benefits than SS, can retire when he chooses, leaves the fund to his family when he dies, and government is not stuck with making huge SS payments annually (the largest item in the budget).

Everybody is better off. The only problem is that we need the SS contributions paid by workers to pay current SS benefits.
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That would be the likely scenario (or maybe a 'Global 8000 Index Fund').
 
cawacko said:
Here's an interesting fact about people living paycheck to paycheck:

Why Upper Middle are Living Paycheck-to-Paycheck

""Living paycheck to paycheck is an unpleasant financial reality for many Americans. According to a 2016 GoBankingRates survey, 69% of Americans have less than $1,000 in savings. While adults earning less than $25,000 annually struggle the most with keeping money in the bank, a surprising number of higher-income earners are also scrambling to make ends meet.

A 2015 Nielsen study, for instance, found 25% of American families making $150,000 or more a year live paycheck to paycheck. One in three households earning between $50,000 and $100,000 find themselves in the same predicament. With household debt ballooning, and the cost of living skyrocketing in some parts of the country, a higher income doesn’t always translate into financial security. New research sheds some light on just how far a six-figure salary really goes.""


https://www.investopedia.com/articl...igh-earners-still-live-paychecktopaycheck.asp
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Keeping up with the Joneses.
 
I<3Big Anime Tiddies said:
You can't tell this to Boomers. They're incapable of understanding concepts like planning, or the future, or consequences for poor decisions.
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I don't understand what you mean......we planned for our future by passing a law which says we get the money taken out of your paycheck.......I don't think that was a poor decision at all.......
 
Flash said:
The government puts the same amount you contribute to SS into a S&P 500 index fund instead. After 40 years the worker has over $1 million. That means the worker gets more in benefits than SS, can retire when he chooses, leaves the fund to his family when he dies, and government is not stuck with making huge SS payments annually (the largest item in the budget).

Everybody is better off. The only problem is that we need the SS contributions paid by workers to pay current SS benefits.
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how would that workout,if we had Oct 1929 stockmarket collapse again?
 
I'm all in for mean's testing SS benefits........eliminate payments for anyone earning more than $100k a year in non-SS benefits........double the benefits for those under $100k.....
 
Flash said:
Social Security full retirement age was already raised. It is 66 now and will be 67 for those born after 1960. About 70% take their SS early at age 62-65.
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My social security retirement age is 66, I started drawing it on my 66th birthday! I hope it last?!!
 
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signalmankenneth said:
My social security retirement is 66, I started drawing it on my 66th birthday! I hope it last?!!
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Congress will never let SS fail although it will have to have some reforms. By about 2037 the $2.5 trillion surplus will be gone and revenues will only cover 70% of benefits.
 
Woko Haram said:
It's a good plan. I'm doing something similar. I probably won't retire that young, but I'm on a good financial path.
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When I bought my home, I sold some of my firearms to furnish and change a few things. That way, I still had enough in savings for any unforeseen home ownership issues (furnace, water heater, etc.). I could have bought a larger home with more land, but being single and not home much anyway, I decided on what I have and kept the property taxes lower.
I had a heart attack in my early 50's. I went over my finances, sold a few things and figured what I needed to retire early. I was lucky to have good jobs with great benefits throughout my career, and since I really have enough toys to keep me busy, I don't spend much (except for gas in my Cobra in the summer and reloading supplies) other than what I need.
 
CFM said:
Is it that they know they're unable to do so? Those that can't or won't typically are the kind that expect others to be, as Mason put it, concerned about the masses.

MY concern is about MY retirement.
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Democrats see Social Security as a sort of forced retirement plan. They lack the personal responsibility to set aside the money themselves, so they are happy for FedCo to force them to do it. The fact that it gives 0% returns, or worse, to so many matters not at all.

When a Republican points out the shittiness of the system, the standard Democrat response is to state that the Republican should forgo any payments that he is entitled to, or else he is a hypocrite. The fact that this has no base in logic or is relevant to the point matters not at all.
 
Dark Soul said:
Democrats see Social Security as a sort of forced retirement plan. They lack the personal responsibility to set aside the money themselves, so they are happy for FedCo to force them to do it. The fact that it gives 0% returns, or worse, to so many matters not at all.

When a Republican points out the shittiness of the system, the standard Democrat response is to state that the Republican should forgo any payments that he is entitled to, or else he is a hypocrite. The fact that this has no base in logic or is relevant to the point matters not at all.
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You're a religious person, do you think Society has an obligation to take care of it's Poor, it's Unfortunate, it's Forgotten?
 
Flash said:
Congress will never let SS fail although it will have to have some reforms. By about 2037 the $2.5 trillion surplus will be gone and revenues will only cover 70% of benefits.
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By then America will be a memory like Atlantis,because the Shawnee Prophet 's vision will have come true.
 
Dark Soul said:
Democrats see Social Security as a sort of forced retirement plan. They lack the personal responsibility to set aside the money themselves, so they are happy for FedCo to force them to do it. The fact that it gives 0% returns, or worse, to so many matters not at all.

When a Republican points out the shittiness of the system, the standard Democrat response is to state that the Republican should forgo any payments that he is entitled to, or else he is a hypocrite. The fact that this has no base in logic or is relevant to the point matters not at all.
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Your view of America is skewed by the fact,you have everyone has Democrats or Republicans.
Fact half are neither,they don't vote or participate in politics,but their needs still have to be met.
 
I<3Big Anime Tiddies said:
How much you wanna bet?
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dude

try resolving you hate of your parents

this is how mental issues keep people in a mental prison.

You hate your parents


we get it


I was born dirt poor billy

tell me how people who are barely surviving are supposed to SAVE when the economy YOU RIGHT WINGERS pretend is great makes it so the wages NEVER RISE but the GOODS are always rising cost?


You hate of your parents is making you irrational


If I had gone with what my parents taught me about finance I would have NOTHING at this stage in my life.

both my parents were WAY RIGHT of me politicly.


they ended up with nothing but SS

they were called the greatest generation


no house, no savings 29 year old vehicle and some furniture


me and my family made sure they were OK

they had 8 kids


I was a liberal since I began thinking about politics in my teens


I saw what they were doing in life and KNEW they were headed for trouble


My dad was a guy who worked all his life and drank when he wasn't at work


LOVED trying to make me his target of verbal abuse when he was drunk


would literally wake me up to blame me for what the world was like


Not much physical abuse but lots of implied threats


Until they day I grabbed his wrist as he threatened my older brother

my bro was sitting down my dad was standing


he had him by the shits front and was wagging his fist in my bros face like he was about to hit him


I had had enough of his dictatorship

I walked up and grabbed his waving wrist with my hand tightly


I looked him in the face and told him DO NOT HIT MY BROTHER


at that point my bro was no longer threatened


he did bounce me off a wall but I jumped right the fuck back up and got in his face


I gave him a look that said YOU ARE GOING TO HAVE TO REALLY HURT ME BECAUSE IM NOT BACKING DOWN


for the rest of my life with him when he thought of making himself feel LESS weak in his life by intimidating weaker people he cant choose me as a target


I would stand up to him again to protect my mother


in my presence he LOST the power to intimidate the people he was supposed to love

he realized he didnt want to go to prison for putting his daughter in the hospital or a grave

your hate of your parents has you in a cage dude


a cage you refuse to dismantle



NOW realize this


your hate harms others


You are all pissy about the world because it was unfair to you


great


now as an adult you CHOOSE to stay in your safe little prison instead of dealing with the damage you had thrust on you


MAN UP


choose to face the world with love


you know all those people you leer at every day


practice smiling at them


when you approach other humans as you enemy at every moment instead of telling your self intellectually "that person is a wonderful person UNTIL they prove to me they are NOT"


Smile at them and EXPECT goodness and kindness from them


You would be amazed at how many nice people you will find in this world


leering at everyone constantly means they size YOU up as NOT A GOOD AND KIND person.


You want to see the world as a better place?

the trick is to force your self to smile at people and convince your self your kindness and goodness towards others will help you determine who is good and kind


Its NOT bullshit


its fact


be the person you so want others to be


get it


hating your parents no matter how much they deserve it doesn't mean all people are evil


that is mental malpractice huh dude

its complete idiocy to act as if all are evil because you have had to face evil in life


Hell my Dad wasn't evil and he was out of line with me nearly my whole childhood


I went back after I was 18 and visited to make sure my little bro and sis were ok


Helped them have more fun as kids


it helped my whole family


my dads frailty emotionally didn't destroy me


you are letting your childhood destroy you

I suggest for your own sake you stop that
 
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