Retirement Question

[shovelmike]

Frankenkubota: I'm glad you can get together and play your music. For 2 or 3 years I was making monthly visits to nursing homes, playing gospel, country, and classic rock and roll...sidelined by COVID 19 of course.

 

[ultrarunner]

Yep... seniors in assisted living and skilled nursing are for the most part on lock down... the isolation is taking a heavy toll.

Music really is the universal language...

As for punch presses I did my time and dodged a bullet...

The old press engaged and someone I know was left with half a finger and thumb.

 

[MoPops]

Interesting thoughts on the national debt. I wish someone in DC had the guts to address it, but if they did, they’d never get re-elected. The biggest problem I have with it is that each year more and more of the overall budget it now an interest payment. It may be the biggest budget item outside of SS and Medicare. I alway hear about cutting the budget etc. but nobody ever says reduce the interest we are paying.
I also consider SS and Medicare a bit different than other social programs. Most of us paid into them for 40+ working years. To lump them in with payments to someone that just moved here, and wants rent assistance, a free phone, free food, etc., just doesn’t make sense.
I’ll never get back the $$ I dumped into SS while working. I would have to live to 120, but the few $$ I will get back I’ll gladly take.

 

[kthompson]

Interesting thoughts on the national debt. I wish someone in DC had the guts to address it, but if they did, they’d never get re-elected. The biggest problem I have with it is that each year more and more of the overall budget it now an interest payment. It may be the biggest budget item outside of SS and Medicare. I alway hear about cutting the budget etc. but nobody ever says reduce the interest we are paying.
I also consider SS and Medicare a bit different than other social programs. Most of us paid into them for 40+ working years. To lump them in with payments to someone that just moved here, and wants rent assistance, a free phone, free food, etc., just doesn’t make sense.
I’ll never get back the $$ I dumped into SS while working. I would have to live to 120, but the few $$ I will get back I’ll gladly take.

Totally agree.

 

[CADplans]

,,,,,,,,,,,,,,,,,,,
I値l never get back the $$ I dumped into SS while working. I would have to live to 120, but the few $$ I will get back I値l gladly take.

We calculated what we put in SS,, and what we have got back,,
If you include the $,$$$ for health insurance,, the wife and I got our money back years ago,,

I think most people forget that,, imagine writing a check every month for health insurance,,
(right before I turned 65, my health premium was $1,200 per month)
if most people needed to do that,, they would never quit working, and they would stay at whatever job would supply medical insurance,,

 

[ultrarunner]

We calculated what we put in SS,, and what we have got back,,
If you include the $,$$$ for health insurance,, the wife and I got our money back years ago,,

I think most people forget that,, imagine writing a check every month for health insurance,,
(right before I turned 65, my health premium was $1,200 per month)
if most people needed to do that,, they would never quit working, and they would stay at whatever job would supply medical insurance,,

Is that dollar for dollar or money put in earning compound interest invested?

There was a time way back when SS started when plenty of new cars could be had well under 1,000.

Gov can inflate its way out of debt repaying with cheaper dollars.

 

[MoPops]

We calculated what we put in SS,, and what we have got back,,
If you include the $,$$$ for health insurance,, the wife and I got our money back years ago,,

I think most people forget that,, imagine writing a check every month for health insurance,,
(right before I turned 65, my health premium was $1,200 per month)
if most people needed to do that,, they would never quit working, and they would stay at whatever job would supply medical insurance,,

I’m still not taking SS (at 66) so I am paying for health insurance (Medicare) every month. Medicare was taken out of my paycheck every month also. I guess that’s why I look at Medicare and SS separately.