Social Security

[Steve_R]

Originally Posted by Yadkin

Meh, not so much. When The Great Ponzi Scheme started, the retirement age was nearly equal to the life expectancy. If they had kept it that way, then there is no way that it would be teetering on bankruptcy today.

If there was really a SS Trust Fund where the money was invested, as the system was designed to be, it wouldn't be "teetering on bankruptcy today." Unfortunately the fed gov uses SS funds for lots of other things, so there is no SS Trust Fund.

When the fed gov spends >$1 trillion every year than it takes in, there is no single part of the budget that's "teetering on bankruptcy," that's simply a ploy by the fed gov to set the stage for increasing the FRA and/or reducing SS benefits.

[Mick]

Originally Posted by Yadkin

Meh, not so much. When The Great Ponzi Scheme started, the retirement age was nearly equal to the life expectancy. If they had kept it that way, then there is no way that it would be teetering on bankruptcy today.

Not germane to the discussion. When I entered the work force, my retirement age was 65. Sometime later, the "goal post moved" to 67. I don't give a shit what some guy's life expectancy was nearly a century ago. This is what is applicable, because every time someone suggests further delaying the retirement age, the young folks say "you can't move the goal posts like that", not realizing it has already been done.

Originally Posted by Steve_R

If there was really a SS Trust Fund where the money was invested, as the system was designed to be, it wouldn't be "teetering on bankruptcy today." Unfortunately the fed gov uses SS funds for lots of other things, so there is no SS Trust Fund.

When the fed gov spends >$1 trillion every year than it takes in, there is no single part of the budget that's "teetering on bankruptcy," that's simply a ploy by the fed gov to set the stage for increasing the FRA and/or reducing SS benefits.

There is a trust fund, but there is not money in it. For more than half a century, the program ran a surplus, and the excess money was put into the trust fund. Then, the Federal government would grab that money, and put it into the "general fund", and spend it on pork.

[Yadkin]

Originally Posted by Mick

Not germane to the discussion. When I entered the work force, my retirement age was 65. Sometime later, the "goal post moved" to 67. I don't give a shit what some guy's life expectancy was nearly a century ago. This is what is applicable, because every time someone suggests further delaying the retirement age, the young folks say "you can't move the goal posts like that", not realizing it has already been done.

My point is that they should have tied the retirement age to life expectancy from the very beginning.

I figured long ago that the Scheme would crash, and planned for that happening the exact minute that I started to collect. So any money I get out will be for expensive cars and European river cruises.

[Steve_R]

Originally Posted by Yadkin

My point is that they should have tied the retirement age to life expectancy from the very beginning.

Why? Except for financial projections, how are those two things linked?

[Yadkin]

Originally Posted by Steve_R

Why? Except for financial projections, how are those two things linked?

Wut. Are you saying that financial projections aren't relevant?

[Steve_R]

Originally Posted by Yadkin

Wut. Are you saying that financial projections aren't relevant?

Where did I say that? I asked how life expectancy and retirement age are linked. As we age our ability to work, especially at some professions that require physical effort and stamina, diminishes. Financial projections don't change that fundamental part of aging.

[GTOguy]

Shouldn't black people be able to get SS earlier because of shorter projected lifespans? And because reparations?

[Yadkin]

Originally Posted by Steve_R

Where did I say that?

You said it here:

Originally Posted by Steve_R

Why? Except for financial projections, how are those two things linked?

Originally Posted by Steve_R

I asked how life expectancy and retirement age are linked. As we age our ability to work, especially at some professions that require physical effort and stamina, diminishes. Financial projections don't change that fundamental part of aging.

You're overthinking this as usual. "...they should have tied the retirement age to life expectancy from the very beginning" doesn't mean a linear relationship. It means that as life expectancy increases, the retirement age should increase as well. I said nothing about a one-to-one linear relationship.

[Yadkin]

Originally Posted by GTOguy

Shouldn't black people be able to get SS earlier because of shorter projected lifespans?

Valid.

[Tikiman]

Originally Posted by GTOguy

Shouldn't black people be able to get SS earlier because of shorter projected lifespans? And because reparations?

You have to get a job to be able to pay into it. That kind of leaves most black people out.

[Don Rickles]

Originally Posted by Red Baron

.

I’m glued to your posts, so awesome

[Don Rickles]

Originally Posted by Red Baron

You should be glued to your pillow. Isn't it nap time for you, now?

You should be a screen writer for a sitcom you’re so funny!

[Don Rickles]

Originally Posted by Red Baron

Better yet, we should go above and beyond pre-Vegas and old Vaudevillians and go on tour together. We could be the next Dean and Jerry(you being Jerry-like, of course). Whaddah ya say, Pard?

There won’t be any SS left for you so start crying.

[Don Rickles]

Ahhh little boy, no soup for you.

[GTOguy]

Originally Posted by Don Rickles

I’m glued to your posts, so awesome

Yesterday you said you were outta here until RB got the axe. I guess you realized RB wasn't going anywhere and nobody bought into your hissy-fit ultimatum?

[GTOguy]

Originally Posted by Red Baron

We are getting closer by the day, now. I feel the love.

You are not being disrespectful, you are not using foul language, you are not going over the line. In fact, you are much MORE P.C. than the poor thin-skinned Jew who thinks you should get the axe. Talk about being a hypocrite.

* disclaimer: I actually like Rickles and think he's a solid guy. He's just an asshole.

[Don Rickles]

Originally Posted by GTOguy

Yesterday you said you were outta here until RB got the axe. I guess you realized RB wasn't going anywhere and nobody bought into your hissy-fit ultimatum?

Nope. It was your snooze that enlightened me! Thank you!
For real!

I mean, if you can’t beat them, join them!

[Don Rickles]

Originally Posted by GTOguy

You are not being disrespectful, you are not using foul language, you are not going over the line. In fact, you are much MORE P.C. than the poor thin-skinned Jew who thinks you should get the axe. Talk about being a hypocrite.

* disclaimer: I actually like Rickles and think he's a solid guy. He's just an asshole.

The day you stop chasing after my body parts, I’ll let you back on the list!

[Mick]

Originally Posted by Yadkin

Wut. Are you saying that financial projections aren't relevant?

Neither Steve nor I are. BUT, the system is not "going to crash". I explained above how the net deficit is a blip due to changing population dynamics, most importantly annual birth rates. With no changes, the system in place right now will turn back to annual surpluses once enough baby boomers are dead, probably around 2050 or so. What is happening now is that our government is finally coming clean about the fact that they stole our retirement savings, and have no intention of ever paying it back.

[slewfoot]

Originally Posted by GTOguy

This^^^. I did the math and took mine as soon as I could at 62. The 'break even' point for me is age 79. Assuming I don't invest a penny of the 2k I now get every month. I don't plan on beginning my life at age 79. My dad died at that age. Instead, I'll use the extra coin for fun. A 'playcheck'. I have 401 money and other investments I have not touched and don't need to touch, but will have to figure out what to do with it eventually.
The government wants you to wait to take SS because it is to their advantage, period. I can't count the people I knew who died between 62 and 67.5, never collecting a penny of what they contributed for decades.

62 was my original plan 20 years back but changed a bit over the years when I wanted a higher employment retirement. So, with the math, did the basic medicare-no supplements at 65 because I use the VA and I retired from my employer and took SS at my SS number of 66 & 4 months.

My wife decided to go the distance and will start SS next year at 70.