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Message
1
Posted on 4/4/22 at 12:33 pm to BK Lounge
quote:
a guy who worked hard all his life, but had a business fail at some point.. or maybe he lost it all in a divorce (or two)
Under a privatized SS system he'd be perfectly fine, and in fact better off.
Posted on 4/4/22 at 12:35 pm to BK Lounge
quote:
m no expert, but my understanding of SS is that it was meant to be a safety net
100% correct. It was supposed to be exactly that, NOT a retirement program. When the thing started, most people didn’t live long enough to collect for very long. Now you have people retiring and collecting for decades, sometimes a third of their entire lives.
Posted on 4/4/22 at 12:35 pm to Forever
quote:
I don’t know if I agree with this as a whole. Businesses can’t find employees for shite jobs I.E. working as a cashier at Taco Bell for 48 hours per week from 5 PM-3 AM for $9.25 an hour. I haven’t heard of any white collar businesses having staffing issues, I may be wrong on that though
Thats what it is. People have figured out that they dont need to work those sort of jobs for shite pay. They found something new that probably pays more so why go back to Mcdonalds?
Posted on 4/4/22 at 12:35 pm to RogerTheShrubber
quote:
Should have been done long ago. Will never happen now.
I wont get into any of the politics involved- but even the most casual follower of politiics can see that there is no way Republicans lose in 2022 or 2024.. No way (save this post for posterity if you want)…. But b/c of that reason, i think there is a huge chance that there will be a push to privatize or eliminate SS in the next few years, since, again, Republicans have been trying for decades.. not judging whether theyre right or wrong in a thread on the OT- just speaking factually .
Posted on 4/4/22 at 12:37 pm to BK Lounge
quote:
but even the most casual follower of politiics can see that there is no way Republicans lose in 2022 or 2024
You underestimate the power of mail in ballot harvesting.
Posted on 4/4/22 at 12:39 pm to BK Lounge
quote:
not judging whether theyre right or wrong in a thread on the OT- just speaking factually .
You’re probably right. R’s have this nasty tendency to turn certain victory into defeat by doing stupid stuff that the D’s can spin into “killing grandma”.
Posted on 4/4/22 at 12:40 pm to Centinel
quote:
Under a privatized SS system he'd be perfectly fine, and in fact better off.
Do tell ?
I personally know guys who have had to sign over their pensions to an ex wife in a divorce- what’s to say a judge wont make him do that with his ‘privatized SS’ ? Also, there’s been discussion today (not sure if in this thread or another) of people who have dipped into their 401ks to stay afloat due to Covid and other factors .. i cant dip into my future SS (thankfully), but what if someone had to dip into their ‘privatized SS’ to feed their family, and then it’s gone when theyre 80 yrs old ?
Posted on 4/4/22 at 12:43 pm to NOLAVOL16
quote:
100% correct. It was supposed to be exactly that, NOT a retirement program. When the thing started, most people didn’t live long enough to collect for very long. Now you have people retiring and collecting for decades, sometimes a third of their entire lives.
My paw paw retired from Exxon at 58 with a full pension. He lived another 40 years. He told me he made more money in retirement between that and social security than he did working
Posted on 4/4/22 at 12:47 pm to GreenRockTiger
quote:
The dentist I called last week doesn’t have an assistant or receptionist - his dad or brother is answering the phones
Dentist is probably a cheap a-hole.
Posted on 4/4/22 at 12:52 pm to fallguy_1978
quote:
My paw paw retired from Exxon at 58 with a full pension. He lived another 40 years. He told me he made more money in retirement
Doesn’t surprise me at all. My parents are in a similar boat. Lifetime government pension, plus 401k’s, plus SS. Until Covid hit they were on cruises for 6-8 weeks a year.
Posted on 4/4/22 at 1:45 pm to Centinel
I think people also misunderstand the insolvency of SS. If we reduce benefits to 80% in 2035 then it will still have another 100 years without running out of money and that assumes no other changes to tax wage cap, retirement age, etc.
I have always planned to not have any SS but in reality it will 100% exist long after my (35yo) death.
The bigger question will be what forms of helping SS will be prioritized and what will the public support the most. My guess is not allowing the "1% "(which will be much more than only 1% of Americans) to get SS will have the most support but I hope not.
I have always planned to not have any SS but in reality it will 100% exist long after my (35yo) death.
The bigger question will be what forms of helping SS will be prioritized and what will the public support the most. My guess is not allowing the "1% "(which will be much more than only 1% of Americans) to get SS will have the most support but I hope not.
Posted on 4/5/22 at 3:20 pm to TigerintheNO
The stat about 1 in 5 people who quit cashing out their 401(k) is terrifying. That means we will have even more people with no money saved for retirement to go with our aging population.
Bad for them individually and bad for society as a whole. They will be pissed when they are old and broke.
Bad for them individually and bad for society as a whole. They will be pissed when they are old and broke.
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