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Old 09-05-2017, 11:01 PM
Status: "Living the good retired life." (set 29 days ago)
 
Location: Wasilla, AK
5,877 posts, read 3,153,208 times
Reputation: 11864

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Quote:
Originally Posted by MLSFan View Post
she has 30 years to prepare and save for retirement as well...

You can say you did too when you were 35, but "fairness" isn't something that really matters

if she doesn't have enough in retirement, is it fair? Or does she have to do what she needs now to make sure she has enough?

"fair" doesn't get things done, she gotta do what she gotta do to make sure she ends up how she wants
Her problem is that her husband is a semi-deadbeat who has worked about half the time they've been together. Even if SS survives, they'll get a minimal amount due to low or no earnings. And they have nothing else to fall back on. They are going to be so screwed. Poor choices will lead to drastic consequences.
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Old 09-06-2017, 07:40 AM
 
Location: Fairfax County, VA
1,387 posts, read 602,240 times
Reputation: 2723
It's possible to fail in life if you really put your mind to it.
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Old 09-10-2017, 10:42 AM
 
12,607 posts, read 14,617,198 times
Reputation: 14105
Quote:
Originally Posted by borninsac View Post
A decent suggestion. What do you suggest be called the benefits received by those who did not earn a pension?
Welfare
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Old 09-10-2017, 12:24 PM
 
Location: Fairfax County, VA
1,387 posts, read 602,240 times
Reputation: 2723
You're proving my point.
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Old 09-11-2017, 01:45 AM
 
18,286 posts, read 11,673,706 times
Reputation: 11913
Quote:
Originally Posted by AlaskaErik View Post
Her problem is that her husband is a semi-deadbeat who has worked about half the time they've been together. Even if SS survives, they'll get a minimal amount due to low or no earnings. And they have nothing else to fall back on. They are going to be so screwed. Poor choices will lead to drastic consequences.


Not for nothing this is 2017, not 1917, 1947 or even 1977. If any woman today finds herself married to a "deadbeat" and isn't willing to take steps to change that situation, then hard as it may sound she deserves whatever she gets.


Women even back in the 1940's or whatever realized they could do "bad all by themselves" and either got a divorce and or threw a lazy bum of a husband out, then proceeded to make their own way.
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Old 09-11-2017, 01:56 AM
 
18,286 posts, read 11,673,706 times
Reputation: 11913
I'll say this again; SS isn't going anywhere. The thing will still be around ten, twenty, thirty or whatever years into the future. Larger question, and the one no one really speaks to is will those receiving benefits be enough for future retirees to live upon.


Pensions are fast going the way of the Dodo. Americans by and large still do not save nor invest nearly enough to fund retirement. There are plenty of people out there in their 50's (we all know them) that don't have anything. They live paycheck to paycheck and often are broke.


The average SS benefit is currently around $1300 per month, that is *NOT* a lot of money to live upon as a sole source of income.
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Old 09-11-2017, 02:05 AM
 
3,472 posts, read 1,986,388 times
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Quote:
Originally Posted by Crashj007 View Post
That's true . There's another thread around here that complains the rich don't spend enough.
What they do spend is spent on things like Rolls Royce, yahts, winner horses, mega mansions, or buying up real estate for renting to us poor schmucks, or to sell to us at ridiculously high prices to fleece the average and poor, or on entertainment we buy to further enrich those in that field, and on security to keep us poor schmucks out of their realm.

They DON'T spend it at Wal-Mart or Target.

They DON'T buy the average house on your block.

They DON'T buy the average car produced in a factory that DOES employ a handful of the 'ordinary' people.

They DON'T buy ordinary things at regular prices.


That is the difference.

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Old 09-11-2017, 08:57 AM
 
8,293 posts, read 3,458,668 times
Reputation: 1587
Quote:
Originally Posted by galaxyhi View Post
What they do spend is spent on things like Rolls Royce, yahts, winner horses, mega mansions, or buying up real estate for renting to us poor schmucks, or to sell to us at ridiculously high prices to fleece the average and poor, or on entertainment we buy to further enrich those in that field, and on security to keep us poor schmucks out of their realm.

They DON'T spend it at Wal-Mart or Target.

They DON'T buy the average house on your block.

They DON'T buy the average car produced in a factory that DOES employ a handful of the 'ordinary' people.

They DON'T buy ordinary things at regular prices.


That is the difference.

The above might relate to the mega-rich, not your typical millionaire.

https://www.amazon.com/Millionaire-N.../dp/1589795474

We do buy at Walmart. We have nicer houses, and drive nicer cars. We buy cheap off of Amazon and eBay.
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Old 09-11-2017, 02:08 PM
 
Location: Florida and New England
1,101 posts, read 1,305,361 times
Reputation: 1358
Quote:
Originally Posted by BugsyPal View Post
I'll say this again; SS isn't going anywhere. The thing will still be around ten, twenty, thirty or whatever years into the future. Larger question, and the one no one really speaks to is will those receiving benefits be enough for future retirees to live upon.

Pensions are fast going the way of the Dodo. Americans by and large still do not save nor invest nearly enough to fund retirement. There are plenty of people out there in their 50's (we all know them) that don't have anything. They live paycheck to paycheck and often are broke.

The average SS benefit is currently around $1300 per month, that is *NOT* a lot of money to live upon as a sole source of income.
Agreed. The retirement problem that will dominate the US national discussion for the next 20 years, just like this generation has repeatedly dominated the US national discussion, is the Baby Boomers.

Something like 40% of the Boomers (born 1945-1963) have zero retirement savings. Gen X (1964-1982) has a better savings rate, perhaps because of wider availability of IRAs and 401(k)s. The Millennials aka Generation Y (1983-2001) appear to be saving assiduously, although it is too early to judge their retirement prospects. The oldest Millennials have only been working for 15 years.

The Boomers and Gen X will always vote to ensure the viability of Social Security -- too many of them are dependent on it, and many have also largely completed their contributions. I do see the FRA going higher -- probably in stages to age 70 -- for those born no earlier than 1990. That change also increases long-term viability. It closes the 67-70 "loophole" which guarantees a remaining lifetime of increased benefits in exchange for the current three-year-post-FRA deferral. I foresee a fifty-year lifetime of work to be the new standard, rather than the current forty-five.

Nevertheless, the US media will start to fill up (I already see at least one story per week) with the "news" that baby boomers with zero savings who are finding it impossible to survive on $1500/ month social security. Expect lots of hand-wringing and more government programs to subsidize these retirees.
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Old 09-11-2017, 02:32 PM
Status: "Living the good retired life." (set 29 days ago)
 
Location: Wasilla, AK
5,877 posts, read 3,153,208 times
Reputation: 11864
Quote:
Originally Posted by galaxyhi View Post
What they do spend is spent on things like Rolls Royce, yahts, winner horses, mega mansions, or buying up real estate for renting to us poor schmucks, or to sell to us at ridiculously high prices to fleece the average and poor, or on entertainment we buy to further enrich those in that field, and on security to keep us poor schmucks out of their realm.

They DON'T spend it at Wal-Mart or Target.

They DON'T buy the average house on your block.

They DON'T buy the average car produced in a factory that DOES employ a handful of the 'ordinary' people.

They DON'T buy ordinary things at regular prices.


That is the difference.

Our income puts us in the top five percent. We do shop at Walmart and Target. We do have an average house. I drive a Chevy pickup and my wife drives a Hyundai. We do buy ordinary things at regular prices, unless they're on sale. We are considering the purchase of some rental property, but we will only be able to charge what the market will bear. It's not a giant conspiracy. We just made some smart choices along the way and now we enjoy the fruits of our labor.
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