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re: Why are you not afraid of losing Social Security and Medicare?
Posted on 10/24/18 at 9:37 am to Gray Tiger
Posted on 10/24/18 at 9:37 am to Gray Tiger
quote:
Why are you not afraid of losing Social Security and Medicare?
Because the Democrats have been using any change in these programs as a principal scare tactic for decades.
I remember when: "The Republicans were going to cut back so much that old peopole will only afford dog and cat food."
This. ^^^^
The real problem with Social Security and Medicare is that the liberals have turned it into a free give away program for those that have not paid into it.
This is what pisses off sane normal thinking people. We pay into it and just like clock work liberal socialist come in and grab as much as they can to buy votes from their lazy, ignorant constituents.
1
Posted on 10/24/18 at 9:39 am to Jake_LaMotta
But what about Average Joe and Susie the Soccermom. These people are the heart and soul of the GOP.
Before I was born, we had the Eisenhower Republicans. Those are my favorite because they put industry above all else. But nowadays the bulk of Republicans are your working class boys.
Most of you despise liberals, but from a economic perspective you have similar values to them (college educated, good public or private sector jobs etc.). Your group will be fine.
Posted on 10/24/18 at 9:40 am to volod
Why is it a problem? People below 45 have 15+ years at the minimum to prepare. I think we should decrease SS through phasing in a reduction. Over 50? You get 100%. Decrease 2% as age goes down until you get to a reasonable, sustainable level.
Posted on 10/24/18 at 9:40 am to volod
quote:
3 of the most popular programs in American History.
Wait, programs that provide free money are popular? No way.
Posted on 10/24/18 at 9:42 am to volod
quote:
Agreed.
Any advice to guys under 30 or in their early career.
Savings are like planting a tree: The best time to start was 5 years ago, the 2nd best time to start is NOW.
If your employer offers a 401k program, start one and contribute at least 7% of your income into it each check if your budget allows.
If your emplyer doesn't offer one, then start a savings account and contribute to it each paycheck.
I'm sure there's others here who could give you advice other than me.
Posted on 10/24/18 at 9:42 am to beerJeep
quote:
Bc as someone who is under 45, I accepted long ago that I’ll never see a cent of the money I put into social security.
This. And have been planning for it for 11 years now (I’m 37)
Posted on 10/24/18 at 9:42 am to volod
quote:
Why are you not afraid of losing Social Security and Medicare?
if "losing" them means that i don't get taxed for them anymore, then i'm fricking ECSTATIC that i'm "losing" them
Posted on 10/24/18 at 9:43 am to volod
quote:
But what about Average Joe and Susie the Soccermom. These people are the heart and soul of the GOP.
No. The core of the GOP is people who are normal. Their financial class, education, ethnicity, etc. vary widely. But they are connected by being normal.
Posted on 10/24/18 at 9:43 am to volod
Social security is 6.2% of gross income. If the average 25 year old bum working at Walmart (who announced they're starting pay at $11/hr last year) put that 6.2% in their 401k they'd have an extra 500k before an employer match with a conservative 8% return.
Most advisors would tell you with 500k you could take 20k a year. That's about what you'd get paid in social security, perhaps a little less. If you ads an employer match than the 401k wins. If you make more than $11 an hour than 401k wins. If the market averages more than 8%, when the S&P 500 has averaged 10% over the last 90 years, and the 401k wins. If you become self employed and SS costs double then the 401k wins.
It is easy to take care of retirement if you actually think about it before you turn 50. Only the government could screw it up. The biggest problem is people don't think more than a year ahead of now, but that's not a problem legislation will solve.
Most advisors would tell you with 500k you could take 20k a year. That's about what you'd get paid in social security, perhaps a little less. If you ads an employer match than the 401k wins. If you make more than $11 an hour than 401k wins. If the market averages more than 8%, when the S&P 500 has averaged 10% over the last 90 years, and the 401k wins. If you become self employed and SS costs double then the 401k wins.
It is easy to take care of retirement if you actually think about it before you turn 50. Only the government could screw it up. The biggest problem is people don't think more than a year ahead of now, but that's not a problem legislation will solve.
Posted on 10/24/18 at 9:47 am to DemonKA3268
Mitch actually said it dude. Do you read?
Posted on 10/24/18 at 9:47 am to MintBerry Crunch
quote:
Wait, programs that provide free money are popular? No way.
It’s not exactly free. Is this not even taught in schools anymore?
Posted on 10/24/18 at 9:51 am to MintBerry Crunch
I pay roughly 7% into social security (obviously not by choice.)
Posted on 10/24/18 at 9:57 am to volod
quote:
Why are you not afraid of losing Social Security and Medicare?
Because I've always known that taking care of myself was my responsibility, not the government's.
I'll be pissed that the government has stolen from me for decades, but better that the programs are ended so others aren't robbed.
Posted on 10/24/18 at 9:57 am to volod
Social security and Medicare are running out of money . Republicans need to stop trying to fix it and just let it fail because when they try to fix it , Democrats want to attack them and claim they are cutting our social security and Medicare.
Posted on 10/24/18 at 9:58 am to Zach
quote:
they are connected by being normal.
no
gop is connected by fear and greed.
Normal is what a given community says it is.
Posted on 10/24/18 at 9:58 am to volod
Unsustainable entitlements, so I've made arrangements to retire without needing them. I had to give up some really cool shite along the way, but it felt like the responsible thing to do.
Posted on 10/24/18 at 10:01 am to volod
They are going bankrupt.
You either need to cut benefits or increase revenue or some mixture of both.
You either need to cut benefits or increase revenue or some mixture of both.
Posted on 10/24/18 at 10:03 am to volod
quote:
Why are you not afraid of losing Social Security and Medicare? by volod
I have a company pension and a 401K nearly at seven figures. That being said I still want my SS that I have paid into since 1984. Can I survive without it? Yes because I have a pension and a healthy 401 with ten years left to add to both but I want what I invested in the SS system.
quote:
If you are below 45 years old, I see this as a huge problem. Why is this being ignored on here
I'm 50.5 years old now and I plan to retire when I hit 62. I hope and expect SS to be around. I remember sitting around hunting camp fires in the 70's as a kid listening to my old man and his working friends talk about how SS would be gone in 20 years yet here it is paying out at a higher percentage rate than then. It will be there for us and you younger guys. Politicians wont risk their careers over being that guy that killed SS. No way.
Posted on 10/24/18 at 10:04 am to volod
Dude, save it. Many on here don't truly know what they are talking about especially on the Medicare end.
Posted on 10/24/18 at 10:08 am to volod
I can still work and God has this.
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