Retirement thoughts Past Present Future

[Username Taken]

I already got screwed by my parents' generation when they raised retirement age from 65-67 back in 1983 because they couldn't manage their finances and refused to fund the promises that they made. Thanks old people. It's your generation that screwed things up. So I don't want to screw my kids as well. Fix the problem. Don't kick the can down the road.

At the very least, make it a tiered increase in age, and don't start the tier for anyone that's already been born. I had the additional 2 years added to me when I was already 22 years old. So, as a young adult, I got screwed by a majority of elderly adults. Thanks.

Fixing Social Security is as easy eliminating the Cap, without increasing the benefit. Problem solved.

But those who are always demanding the 'rich' pay their 'fair share' will scream Bloody Murder! if we do.

Just like the same crowd did when OMB introduced the SALT (stateandlocaltax) cap. They could deduct up to $10,000 in SALT but that wasn't good enough for them. They wanted the rest of the Country to carry their weight for them. As usual. They wanted off the hook. So, if they're not paying tax, who is? Take a guess.

Think about how much those people have to make before the SALT cap kicked in. New Yawk and Cali would be the places that got hit. Not here. We don't have State Income Tax in Florida. Indiana does. It's 3% first dollar, IIRC. Fair. Not great, but fair. SS is exempt from State Tax but not Federal. You pay into it with after-tax dollars and it gets taxed when you withdraw it??? Suck-a-what?

Florida = 0 Income Tax for Individuals. And we're the most fiscally sound, the richest State Treasury Reserves of all of them. With no Income Tax. How does that work??

Screwed? Maybe a little. For one thing, SS was never intended to be a stand alone Retirement Income. It was meant to keep little old 65+ widows from eating dogfood and scrounging through garbage cans. And people didn't live much past 65 in those days. At all

Then it expanded to widows and orphans, disability and about 50 other things it was never originally intended to do. Which I'm okay with.

The worst part of our government (one of them anyway) is how they like to give money away without a way to pay for it.

Then when a Businessman like OMB finds a way to pay for it, through those who can SERIOUSLY afford it, he catches Hell over it. And trust me, that was one of the main, major reasons they hated him. Bigly. He took Snowflake's money and you're not supposed to do that.

Which is why my plan will never work. Can't touch Snowflake's money. He/She/They/Them/Xim/Xer -- They got connections.

We don't. whatev

 

[MossRoad]

So every one of you was at some point complaining about teen pregnancy and welfare, etc... but now you're concerned about teens not having an interest in sex.

 

[Hay Dude]

College loan forgiveness is next…..
Free education, but will they EVER LEARN ANYTHING?

 

[Username Taken]

<snip> 2020 was about the last year I buckled a tool bag around my waist and I hope to never have to do so again!

Buy a bigger belt......

 

[sd455dan]

Yeah, if we'd close our borders we'd probably be in a declining population number. There are those that will use that as a reason to allow mass immigration. Someone to do the work. Research the Roman Empire to see how that worked out.

No argument there. But I do agree with Moss.
Myself and many others on this site probably got their SS card as soon as they turned 14 and have actively been paying into the system for over 40 years.

It irked me as well that our age groups qualification date was pushed back.

 

[Hay Dude]

Buy a bigger belt......

The mental scars from the first one (primarily working too many Sundays) was enough.
Wish I had hung it up even earlier.

My neighbor called me yesterday and asked me about building a 3-car detached with living space above. Said plans were done and asked me if I’d like to come out of “retirement” (Im well short of ”retirement age”)
I politely declined. I’m having too much fun losing money in my second career. ahahahaha

 

[ovrszd]

I hear your last point well. Japan has a huge problem with young people showing interest in starting families.

When the human mind doesn't see hope in the future things can start to run in reverse.

I don't recall ever being told by my Parents that I should move out on my own when I got out of High School. Not one time. I'm actually not sure how they instilled that goal in me?

When I graduated I immediately started looking for a way to fly out of the nest. By Fall I was gone. Only went back to visit. Wasn't because of a bad life at home or again, any pressure from my parents. It was like I was born into that mindset. How did that happen?

I'm afraid today that's lost. The average age in America for kids to move out on their own is 27. 27!!!!

When I was 27 I had spent two years in the Army, one of that in Vietnam. Was married with two Sons. Was self employed. Owned 20 acres of land and was building a new house on it. Eyeball deep in debt. 24hrs a day, 7 days a week stress. Living the Dream.

 

[ovrszd]

No argument there. But I do agree with Moss.
Myself and many others on this site probably got their SS card as soon as they turned 14 and have actively been paying into the system for over 40 years.

It irked me as well that our age groups qualification date was pushed back.

I've never been bothered by paying SS. I've always believed in it as it was intended. When I look around at the poverty level elderly I'm glad they have it.

 

[Gale Hawkins]

So every one of you was at some point complaining about teen pregnancy and welfare, etc... but now you're concerned about teens not having an interest in sex.

A double minded man ...

Living in a time of declining populations boggles my mind after a lifetime of overpopulation talk.

SS should Not be factored into retirement plans of those born in the past 30 years.

 

[lman]

But seriously, if we kept to the original intent of social security, the retirement age would be continuously updated to the average life expectancy. It would not be a plan to provide 20 years of happy retirement for those who were unable or unwilling to save for it. It would be an insurance policy for those who live abnormally long.

So SS should start paying out earlier since life expectancy has dropped almost 2 years since 2019 according to the cdc.