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There is nothing wrong with the social security system, it is all part of a vast right wing conspiracy, put my social security into a lockbox and keep your hands off it
On its current path, I don't expect social security to be there for me when I retire, if I could take every penny contributed or a portion thereof and put it into a personal account I would do it today and get a better return on my investment
Social Security - GDG
Attempting an unscientific survey regarding social security. Don't wish for this to turn into a political fight, just a random sampling of folks opinions regarding the best options for the future of their social security.
If you feel so inclined, include in your response whether you currently or will soon collect or if you have a way to go to collect.
Rich
If God didn't want us eating animals, he wouldn't have made them out of meat!
Ranger,
Need one more category - "I'm so confused, and frankly ignorant, about the in's and out's of SS and private investing that I don't know what to think."
But I'm pretty sure I won't be getting much, if any, SS when I retire (I'm 32). That's why I married a rich man.
Tina
Everybody's a !@#$ing expert.
If you really dig into the facts on this issue, both sides are putting up lots of smoke screens. This is a non-partisan issue that really needs the facts looked at.
1. SS is never guarenteed.
2. It isn't going bankrupt, they will just run out of surplus in 2042. In otherwords, they will start using what is being put into it instead of loaning the $$ to other departments.
3. If they do privatize a portion of it, they will actually loan you money out of your SS account for private investment. That money will have to be returned and you will only get and additional amount of money for retirement on the additional profits your private account makes over if the money it would have made staying in the SS account. Also the private account thing takes away a big piggy bank for loans to other government agencies that would blow it.
There are probably lots of other facts I am overlooking. Don't believe anything on this issue that a politician says, it is too important. This isn't a political issue, it is a portion of our retirement. Do your own research of the facts.
Terry Britton, P.E.
Engineers believe that if it isn't broken, it doesn't have enough features yet.
I agree, there needs to be another category. There is both a left and right wing conspiracy to confuse us of the real facts.Originally Posted by KJB
Ranger,
Need one more category - "I'm so confused, and frankly ignorant, about the in's and out's of SS and private investing that I don't know what to think."
But I'm pretty sure I won't be getting much, if any, SS when I retire (I'm 32). That's why I married a rich man.
Tina
Terry Britton, P.E.
Engineers believe that if it isn't broken, it doesn't have enough features yet.
When running my retirement numbers and doing my planning I never include any $$ from SS. That way if I get any its just gravy, but I save enough in the meantime so I can live without it.
That is quite noble of you Mike. BUT, in the meantime, you are paying taxes into that program, so it SHOULD be something you would want to have working correctly so you can indeed include it in your retirement plans.
My wife and I recently "crossed over" to the receiving side of the ledger, so we know it's value. There's something to be said for a "guarenteed" monthly check, or at least as close as I've ever come to a guarentee.
And regardless of how much we may have saved, there is no way short of a windfall or winning the lotto, that a 'working stiff' raising a family can set aside enough to offset the expenses of the unknown future.
Add to that a philosophy of "enjoying the journey", rather than saving everything for that unknown future, and then finding out as my parents did, the unknown included an early death and illness that didn't allow much enjoyment of what they'd sacrificed for. Plus, you may discover a hole in the checkbook, as we frequently have. So every little bit helps.
I didn't answer the poll. (seems like we are suddenly into bingeing on polls
Anyone with even a 6th grade education can understand the facts of more retirees withdrawing more funds from a drained trust of IOUs, that is being replenished by fewer workers being overly taxed to pay the receivers.
Everyone must understand there is NO trust fund with $$$$ in it...only governmental IOUs are there. Like the commercial of Mommy ripping off the kid's piggy bank, and writing an IOU, so she can pay for her gambling addiction. That's pretty much what your elected barons have succeded in doing.
So what's being proposed may not be the best solution, but if the system is left to it's own conclusion, you can bet it will go bankrupt in your lifetime.
That would mean of course the government will have had to default, and if you've not studied what happens during that sad episode of life, regardless of what you personally have saved, once it's devalued, a wheelborrow of the stuff won't buy you a loaf of bread.
As I started out to explain to Mike, while his intentions are very laudable, and I'm in full agreement with his saving attitude, we don't live in a vacuum. And unfortunately it's no longer good enough to just take care of our own familie's needs, we are in this huge ship together. And it doesn't matter which end of the boat the plug is pulled from, it eventually will sink the entire vessal.
It's obviously imperative that something needs to be done with the SS program, and we are getting around to looking into a something not any too soon. And it's important that everyone be aware of the overall problem, and realize it does need fixing, regardless of your own personal beliefs as to it's need for you individually. If it doesn't become resolved, I don't think our country can withstand it's shakey future without a return to a dirty 30's type of existance.
UB
When the one you love becomes a memory, that memory becomes a treasure.
Does John know about HIM? Does HE know about us?That's why I married a rich man.
Tina
Shayne
I'm reminded of the joke about a man who jumps from the top of a 50-story building and after falling half-way he is asked "How are you doing?" He answers, "Fine, so far."
Like this falling man, Social Security is not really "fine."
No need to worry your empty little head about that. John's in the loop. 8)Does John know about HIM? Does HE know about us?That's why I married a rich man.
Tina
Shayne
Everybody's a !@#$ing expert.
Do you like what privatizing did with 401k vs. Pension?
The only mystery in life is why the kamikaze pilots wore helmets.
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