Where did the idea of retiring at age 62 and living off the gov come from

[Street Rat]

WTF!!! I am 62, draw SS + 2 other retirements and interest from investments. Am I an enemy of the people for working hard and playing by the rules? And what kind of preacher would even be talking about **** like that?



Cedar Creek

I'm sorry, you must have seen pastor/preacher and totally missed the point from there.

 

[mugsy]

Better result for whom?

Since I played by the rules and max out SS every year and have also saved 15% for almost 20 years the .gov simply keeps the money I put in?

That's what I get for doing the right thing?

Sigh...so phase it in - just like Paul Ryan discussed - to minimize the impact to those already retired or on the cusp of retiring and allow time for those, like me, who have to live under a different reality to prepare.

 

[mugsy]

Better result for whom?

Since I played by the rules and max out SS every year and have also saved 15% for almost 20 years the .gov simply keeps the money I put in?

That's what I get for doing the right thing?

Sorry I didn't actually answer your first question - better results for the vast majority of people under approx. 50 or so who are being fooled into believing that SS will be fully funded for their retirement. We would have been better off as a nation is soc sec had remained a widows and orphans fund rather than trying to portray it as a general retirement fund.

 

[SPDguns]

I will not rely on the government to feed me, clothe me, house me or protect me.

 

[OKCShooter]

Sigh...so phase it in - just like Paul Ryan discussed - to minimize the impact to those already retired or on the cusp of retiring and allow time for those, like me, who have to live under a different reality to prepare.

Sigh...so I need to eat it because you didn't do your own due diligence in order to be prepared for reality?

Glad I could forcibly help you !

 

[jakeman]

i'd be happy if the .gov would just hand me a check for what they took out of my pay for the last 36 years. they don't even have to pay me interest. just give back my money and let me use it as i please

I'd gladly take 75%. What they've taken out of my checks in the last 34 years is obscene. If I had been able to deposit that money into an IRA or other interest bearing account, in addition to what I was already stashing away, I'd be able to retire now.

I just look at is as gone. I probably won't draw a penny. My wife will probably get to draw mine when I punt, but I doubt she'll ever get close to drawing what I've put in. But, for someone to say everyone pays, but only those that are too stupid to plan for their own well being get to draw? Yeah, right. That is wealth redistribution, and it won't work, and I'm not going to go into the reasons why. We all know why it won't work. But, people would quit saving more, so they could get back from the .gov what the .gov took, or they wouldn't save any, knowing that the .gov would take care of them. You wanna start a revolution? Try to get that passed.

 

[Shoot Summ]

Yeah, you're right that is the only alternative - there is nothing else possible. Did it hurt punching that straw-man?

There are many alternatives with better results - for example, why pay benefits to those who already have substantial retirement incomes?
Why not limit payouts to those who are truly needy not merely elderly (which isn't the same as needy)?
Why not accept the reality that since most people live longer, healthier lives (increasingly after eschewing raising children who would have supported them in their later years either directly or indirectly) that they must work a few more years before expecting any government financial aid?

You may have better ideas than those I listed but the Ostrich plan isn't the one I want in place when I hit 70.

why pay benefits to those who already have substantial retirement incomes?
Because they paid more than their fair share into the program, why is it fair to penalize them for planning ahead?

Why not limit payouts to those who are truly needy not merely elderly (which isn't the same as needy)?
Then why does everyone have to pay into the program?

Why not accept the reality that since most people live longer, healthier lives (increasingly after eschewing raising children who would have supported them in their later years either directly or indirectly) that they must work a few more years before expecting any government financial aid?

Most are working longer when possible, typically the workplace has been less friendly to "older" workers. I(and my employers) have been paying into this scheme for 35+ years, had those contributions been managed well there would be plenty for me to retire after 50 years of participation. Instead I make sacrifices to take care of it without the payout that I am due, sounds like I should be penalized for planning to take care of myself...

 

[ttown]

Sounds like to me they just need to pull everyone credit and make them save like the old days. Too many fell they need a big house and fancy car right out of high school. I worked 20 years before they got their first new car.

My 401k looks like quite a bit but it hasn't been taxed so I'm sure they'll just tax the crap out of us to complete that scam. Really all I've saved over my 40 years in maybe 7 or 8 years of my current wage. Now that said 20% been going into this 401k so I'm not spending it all. I figure I could live on $800 a month since I live in a small modest house that is paid off if it weren't for medical.

Were all going to get SS, you do realize they are printing 85 billion a month out of thin air don't ya? We'll get it I just hope it pays for my required medical though.

Let me give you a clue. They want to cut my SS because I saved? Guess who will have the big house and fancy cars then?

It like those saying tax the rich. A lot of those people may have high college loans they're paying off, Work 6 or 7 days a week 10 to 12 hours a day to try to become rich. Maybe we should just require everyone to work at least 60 or 70 hours a week. This tax the rich will back fire, we'll all only start working the 40 hours a week if we can't better ourselves. If you have a small bussiness you lay everyone off and it will be a family bussiness with limited hours. It all sounds so good for someone else to have to pay your way doesn't it.

 

[Shoot Summ]

I did the calculations and discovered I'm paying $280 a month between medicare and SS. That's the same as my student loan payment, and that really cheesed me off...

I pay almost 3x that, realize our employers carry this burden as well...

 

[LightningCrash]

The cleaning guy at work, he works two jobs and saves all he can, because he saw people at work who "retired" and lived in poverty when they tried to survive on social security.