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miko33 Offline
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Post: #1
Social Security News
Saw this article today. Surprised no one mentioned it... Actually, no I'm not. This was a HORRID system devised by the gov't. It would have been in much better shape if they even would have ran it like a so so pension plan. Unfortunately, they chose to see it as another income stream to spend on other programs.

You guys talking about treason, betrayal and impeachable offenses...yeah - right here.

https://www.forbes.com/sites/baldwin/201...495de35a1f

Quote:The government is out today with its annual update of Social Security’s sick finances:

--The system is $12.5 trillion under water, up from $11.4 trillion a year ago.

--Absent law changes, checks to retirees will have to be chopped 23% beginning in 2035.

--To fix just the retirement pay program, Congress could kick up the payroll tax by 2.8 percentage points. Fixing Medicare’s disastrous finances would be in addition.

Quote:Here’s a list of possible bad outcomes:

--An increase in the normal retirement age (now 67 for those born after 1959).

--An increase in payroll taxes. Not the full 2.8% needed, but a noticeable amount. This will damage job creation.

--Some way of punishing people who work hard and are frugal. Benefits will be cut for people who have other income, such as from private pensions, part-time jobs and IRA money saved up.

People who are in or near retirement will probably be spared the damage. Younger folk are at risk.

If you’re young, you should be saving at least 20% of your pay (including employer contributions). Also, expect to retire at a later age than your parents did.
07-14-2017 04:40 PM
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stinkfist Online
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RE: Social Security News
don't get me started....

who owns that debt?

start there....

what is that debt....

A: USD

what happens when the boomers die?

.....that should be enough......
07-14-2017 04:49 PM
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Lord Stanley Offline
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RE: Social Security News
Social Security and retirement concerns are now part of my career conversations at 40. While I have strong personal retirement investments and my wife has both a strong teacher pension plus retirement investments, my fear of having enough money in retirement recently contributed to stopping me from pursuing a job with Boeing. We simply couldn't replicate my wife's retirement plan in MO compared to her salary, tenure and retirement here in MN.

(No matter though it wasn't the worst thing that I didn't take the job.)
07-14-2017 04:51 PM
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stinkfist Online
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RE: Social Security News
(07-14-2017 04:51 PM)Lord Stanley Wrote:  Social Security and retirement concerns are now part of my career conversations at 40. While I have strong personal retirement investments and my wife has both a strong teacher pension plus retirement investments, my fear of having enough money in retirement recently contributed to stopping me from pursuing a job with Boeing. We simply couldn't replicate my wife's retirement plan in MO compared to her salary, tenure and retirement here in MN.

(No matter though it wasn't the worst thing that I didn't take the job.)

you should be scared.....and like a roach when the light comes on.....

been trying to point these things out for a couple o' years now.....

nobody should be surprised.....

this is a simple numbers game....
07-14-2017 04:56 PM
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LeFlâneur Offline
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Post: #5
RE: Social Security News
(07-14-2017 04:49 PM)stinkfist Wrote:  what happens when the boomers die?

Well for one thing, they'll stop collecting SSI and Medicare.
07-14-2017 05:03 PM
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stinkfist Online
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Post: #6
RE: Social Security News
(07-14-2017 05:03 PM)LeFlâneur Wrote:  
(07-14-2017 04:49 PM)stinkfist Wrote:  what happens when the boomers die?

Well for one thing, they'll stop collecting SSI and Medicare.

and then what happens to the care providers?

c'mon man....you're a harvard biz guy......I'm just a simpleton from the 'sip.....
(This post was last modified: 07-14-2017 05:05 PM by stinkfist.)
07-14-2017 05:03 PM
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LeFlâneur Offline
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Post: #7
RE: Social Security News
(07-14-2017 05:03 PM)stinkfist Wrote:  
(07-14-2017 05:03 PM)LeFlâneur Wrote:  
(07-14-2017 04:49 PM)stinkfist Wrote:  what happens when the boomers die?

Well for one thing, they'll stop collecting SSI and Medicare.

and then what happens to the care providers?

c'mon man....you're a harvard biz guy......I'm just a simpleton from the 'sip.....

I was just being sarcastic.04-cheers
07-14-2017 05:07 PM
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stinkfist Online
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RE: Social Security News
I'm going to skip a shiteload of steps in the equation....

look around you today.....we saw this 30 years ago..

as cali goes, so goes the nation....

well, as we once pined, as the 'sip goes, so goes everyone else.....

look at your roads....look at your bridges....look at your homes with or w/o mortgages....

look at what is supposed to fix that.....

what, are you people just blind or on drugs....

I continue to pound this like owl pounds bismark.....if the USD teeters, it's fk'n over....

you better vote and pray that doesn't happen.....you'll have to learn things that are outside your scope of ability......that's a gimme putt.....
07-14-2017 05:10 PM
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stinkfist Online
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Post: #9
RE: Social Security News
(07-14-2017 05:07 PM)LeFlâneur Wrote:  
(07-14-2017 05:03 PM)stinkfist Wrote:  
(07-14-2017 05:03 PM)LeFlâneur Wrote:  
(07-14-2017 04:49 PM)stinkfist Wrote:  what happens when the boomers die?

Well for one thing, they'll stop collecting SSI and Medicare.

and then what happens to the care providers?

c'mon man....you're a harvard biz guy......I'm just a simpleton from the 'sip.....

I was just being sarcastic.04-cheers

kudos and 04-cheers to that!

hint: sometimes I need one 03-wink
07-14-2017 05:11 PM
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dfarr Offline
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Post: #10
RE: Social Security News
I wish I could have my 6.2% to invest in my own. Instead I'm using it to pay for a bunch of moochers.
07-14-2017 05:13 PM
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