Social Security is Not Going Broke (capitalism, interest, income, cost)

[1insider]

The 7 Biggest Myths and Lies About Social Security | naked capitalism

We can still whine about the coming collapse of Western civilization, interest rates and the FED however. As you were, people. Light em if you got em.

[mathjak107]

Hopefully myself and my evil band of baby boomers will totally drain the system and you get nothing ha ha ha

[1insider]

Is school out already?

[J.Thomas]

Originally Posted by mathjak107

Hopefully myself and my evil band of baby boomers will totally drain the system and you get nothing ha ha ha

Mr mathjak you got lucky

About draining of course be our guest

We're not gonna contribute a thing for Boomers.

[Energystream]

I will plan on it not being available when I retire. If I get anything great, it is a safety net and something is better than nothing.

Even now I will be getting less out of it than most, and there are people that will get even less out of it. But I am fortunate enough to be doing well and don't mind keeping some level of income to those that will need it when they retire. It is probably more cost efficient than doing it through welfare.

[Lowexpectations]

Originally Posted by Energystream

I will plan on it not being available when I retire. If I get anything great, it is a safety net and something is better than nothing.

Even now I will be getting less out of it than most, and there are people that will get even less out of it. But I am fortunate enough to be doing well and don't mind keeping some level of income to those that will need it when they retire. It is probably more cost efficient than doing it through welfare.

I don't really figure it into my plan but at fra 67 my benefit is currently estimated at 2847 a month and my wife's is 2600 or so. 65k+ certainly would cut down my magic number if I took it into account

[MLSFan]

I view SS as a social net... and like food stamps/disability/section 8, it's not something I want to "rely" on. So I make no plans to include it, bet most of you dont plan on getting food stamps/section 8 in your monthly budget either

which is why I find it sad that so many retirees don't plan life without it, but around the SS checks each month. It's a pretty big leash on their collars if SS dollars determines what they can or can not do.

[J.Thomas]

Well how much you guys are planning to get??

I don't know how old you are but i surely wouldn't rely on $2200-$2800 in 2020 and later on.

Get cheap dividend stocks.

With health problems and other costs one would need at least $3500.

[mathjak107]

What are cheap dividend stocks going to do that other stocks can't ? Any portfolio can spin off income whether there are dividends or not

[J.Thomas]

They'd provide a GREAT side income.

How about a $500 extra??

At least bills would be paid or a monthly Walmart haul.