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I'm 41 and people are telling me that SS will disappear by the time I'll retire
but what will replace it ? i'm sure we will get something for paying into the system all these yrs ? right ?
So why don't you plan for the worst? At this point in your life you should be saving 15% or more of your salary every year - how are you doing? Even if SS stays solvent it still wouldn't be enough to stay at your current economic level, right?
I agree. France tried to raise the retirement age, the people tore up the country. Take social security out of the pockets of people who worked their whole life when boomers got 100%?
I agree. France tried to raise the retirement age, the people tore up the country. Take social security out of the pockets of people who worked their whole life when boomers got 100%?
Hide ya kids, hide ya wife!
Actually it's been known for some time that, in the aggregate, Baby Boomers will collect less in Social Security than they put in.
I'm 41 and people are telling me that SS will disappear by the time I'll retire
but what will replace it ? i'm sure we will get something for paying into the system all these yrs ? right ?
I am 62. They have been saying Social Security is going away since I was in my teens.
Pretty sure they’re wrong.
But your best bet? Learn to live below your means, use your credit cards wisely and pay them off every month, learn a little about investing and save your money and invest it. Even if you have a 401k, you can still open an IRA.
That’s what my late husband and I did. When we were in college we had a teacher who talked about his hope that when he retired his Social Security money would be his golf ball money. We thought that was something to aspire to.
With spousal benefits and survivor benefits many will collect way more then they put in …
As usual they are only comparing a single to make click bait
As an individual, which is how most people do their thinking. We've factored in survivor's benefits for the pension (Mrs. NBP are both in the same pension system) and chose the disbursement where the survivor receives 1/2 of the deceased spouse's benefit but haven't even looked at SS survivor's.
The reality is many many couples get far more out when divorced spouses are considered , spousal benefits for married and divorced spouses and survivor benefits for divorced and married spouses add way more .
Plus you have children getting benefits too under survivor .
Plus many boomers were grandfathered in for filing restricted application ..many others were collecting under file and suspend before it was done away with
So these articles are like comparing raw Dow and s&p numbers without factoring all the dividends subtracted out and paid. They are strictly click bait to draw attention , not the actual way things are in life
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Solly says — Be nice!
