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Old 11-01-2007, 06:57 AM
 
51,862 posts, read 41,765,307 times
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Quote:
Originally Posted by litlux View Post
i retired at 62 aand don't give a hoot what George Will and others think. I took a cut in benefits for opting in early and statistically that will save them money in the long run, so what's the big deal?

I think rich people like George Will and the others who diss Social Security can afford to, they have their tax cuts. For us working stiffs, it was well earned.
Good for you! Enjoy that retirement.

My father retired at age 57-58 or so as he got a "deal" to retire and had worked almost 40 years for the same company. He does some odd jobs etc. for a little extra mad money and I'm glad he got the chance as I've had too many co-workers drop dead in the 50's prior to any retirement.

Note however, the benefit tables are set such that taking early SS at age 62 should be roughly equivalent mathematically.

 
Old 11-01-2007, 07:03 AM
 
51,862 posts, read 41,765,307 times
Reputation: 32364
Quote:
Originally Posted by goodtype View Post
I was watching George Will talking about Social Security on "This Week" on ABC. He was angry that most Americans are actually taking social security at age 62. He has talked about this many times over the years. He does not believe there should be an "early retirement option at age 62" with social security. He thinks most people should wait until they are 70 for retirement and the early option should be eliminated.

This thinking is quite common in the media, academic and government circles. They think it is crazy for someone to retire when they are in good health and have potentially another 20 years they should be working full time. Of course this is a better option for people like George Will who have the option to do interesting work for years past the typical retirement age.

Those of you who have retired on social security at age 62, do you feel guilty like George Will and others would like you to feel? And do you think the elites will eliminate early retirement at age 62 in the near future?
Next time, take a few minutes and post a link...it makes for a better discussion not to respond to someone's general description. There is video on you-tube apparently...but this is his article and I can't get to you tube.

Lindsey Graham's Good Idea (washingtonpost.com)
 
Old 11-01-2007, 08:19 AM
 
Location: WA
5,392 posts, read 21,385,099 times
Reputation: 5884
The program has many options and people should take advantage of what works best for them regardless of what some journalist says. Quite often it is to a couple’s advantage to let the spouse with the lower earnings begin SS at 62 with the other beginning SS at the full rate (age 65, 66, 67 depending on DOB). This is what we plan to do. Here is one article that explains why...

The 62/70 Solution - Forbes.com
 
Old 11-01-2007, 08:31 AM
 
Location: Colorado Springs
46 posts, read 102,841 times
Reputation: 34
Default early retirement

The wealthier folks do like to think that people who serve their needs, buy their products, and do labor for them should work till they drop. That allows more time and wealth for them to enjoy on the golf courses and yachts. I for one will retire next year at 62 after working my entire life (sometimes at really terrible jobs). My wife and I will survive on SS and small pensions in addition to what we have saved during 40+ years of employment. We will make use of Medicare and other programs that are for the working class retirees. Mr Will will continue to call for abatement of government programs which assist the poor and middle classes, as he hopes these same will purchase the publications that his columns appear in and the products of the tv show sponsors who pay his huge salary. God bless you Mr Will.
 
Old 11-01-2007, 08:34 AM
 
Location: DC Area, for now
3,517 posts, read 12,047,444 times
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George Will is a long time very conservative columnist and talking head supported by the Washington Post. He is pro war - any war, anti tax, anti social programs of any sort. If he had his way, the 19th century would return, robber barons and all. And in his mind, this would be good because he would be a robber baron and anyone who didn't rise to top of the heap deserves to be used and abused.

If everyone had the SS money they invested in the system to invest themselves, then my mother would be living unhappily with me instead of happily in her house and independently at nearly 89. 2 of my brothers would be sponging off of me because of foolish and risky choices they have made. I would not be able to retire when I am eligible despite me having saved and made wise choices all my life because they would be sapping my resources. SS only works because everyone has to pay into it. It doesn't afford a lavish retirement but it ensures basic needs will be met. As an example of how well the free choice works for the whole society, look at the poor enlistment into 401k plans over the whole population. Some have done well, but millions who should be contributing do not or have very little.

I for one am very glad there is a mandatory savings plan called social security so my foolish family members do not put me into the ugly choice of sacrificing my life and finances to bail them out of their bad choices. I can enjoy my steady turtle life and comfortable retirement because of it without having to worry that they will starve and feel obligated to keep them afloat at great cost to me and my plans.

There are plenty of people who find it difficult to continue working in their 60s because of health and disability. If you can make it thru your 60s in good health, then you have a good chance of living well into old age. The 60s can be a deadly decade for life or present disabilites. With the obesity epidemic and the resulting diabetes epidemic, we will see more and more people ailing in that decade.

Besides, who would retire at 62 if SS was your only source of retirement income unless you really couldn't keep going at your job? It barely keeps a roof over your head. 62 is a failsafe option for disability and a choice for those who have significant other retirement resources.
 
Old 11-01-2007, 12:31 PM
 
238 posts, read 1,040,206 times
Reputation: 227
Besides, who would retire at 62 if SS was your only source of retirement income unless you really couldn't keep going at your job? It barely keeps a roof over your head. 62 is a failsafe option for disability and a choice for those who have significant other retirement resources.
==============================================
Most people who retire at age 62 go on to part time work that is less taxing and SS is just part of their income.
 
Old 11-01-2007, 02:49 PM
 
17,722 posts, read 19,782,023 times
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Maybe if we paid George Will 1/10 his salary, perhaps then he will love to work into his eighties... hypocrites.. make all that money and enjoying life while not letting the common people enjoy their lives. I hate elitist fascism...
 
Old 11-01-2007, 09:09 PM
 
51,862 posts, read 41,765,307 times
Reputation: 32364
Quote:
Originally Posted by evilnewbie View Post
Maybe if we paid George Will 1/10 his salary, perhaps then he will love to work into his eighties... hypocrites.. make all that money and enjoying life while not letting the common people enjoy their lives. I hate elitist fascism...
If you now tell me you voted for Kerry last election....you will break my irony meter.

You might actually want to read the article I linked to. I disagree with Will for his missing the point of a pay-go system but what he was recommending heavily was having a portion of Soc Sec. invested in higher yield investments so that people could have LARGER soc. sec. payments when they retired.

That in and of itself is certainly not a bad thing. (And no, people wouldn't be able to withdrawl or blow the money like other posters fear....that would be stupid and in violation of the whole idea of social security)
 
Old 11-02-2007, 04:53 AM
 
10,318 posts, read 9,367,886 times
Reputation: 15907
I don't pay attention to opinions from the media; they are just that: opinions.
 
Old 11-02-2007, 05:01 AM
 
Location: North Carolina
2,657 posts, read 7,183,357 times
Reputation: 4297
Quote:
Originally Posted by Keeper View Post
Most large companies don't want you there at 60 or 62 let alone til 70. They can hire a younger person for much less money than you make if you have been there any length of time. All they care about is the bottom line.
Apologies for taking this off on a tangent, but in coming years as the older folks retire and younger ones take their place, companies might rue the day they started pushing the older workers out

American kids, dumber than dirt / Warning: The next generation might just be the biggest pile of idiots in U.S. history

Reading the blog, one might think "one soured writer and his misanthropic views" but the 100s of comments that follow validate some of his feelings.

My own recent experience somewhat proves that. Two positions came open in my department (information technology). We figured they'd be filled with a couple of Indian or Asian contractors; that's the trend in this industry; only to see two late 40s men (one black/one white) come on board. Being on plain speaking terms with one of the bosses, I asked what's up with that? Well, foreign contract workers weren't hired because of the disgruntlement over so many non-Americans taking jobs, so that option wasn't exercised. Okayyy, but why not a couple of youngsters; probably right out of college and needing work experience? At that question I got a sour look and a grunt of an answer "Damned kids would be too much trouble. Runts come in here demanding to be paid as much as me. ME! With 30 years of experience over those wet-behind-the-ears kids! And you should have seen their resumes and cover letters! Crap the likes of which I wrote better when I was in third grade! And I know I would catch hell from you people on the floor who would have had to train them, spoiled and ignorant as they sounded when all I had to do was talk to them. Nope, we decided to hire a couple of older guys with experience; ones we knew would be willing to work for pay, not jack off".

Whoa. I prudently left him to cool down. He looked like he was about to burst from apoplexy I've also kept the notion my mate and I have: to retire early, under wraps. My mate wants to retire in a few years, when he hits the magic '62'. I'm younger but support him fully. He left home at 17 to join the Air Force (that or be drafted and sent to Vietnam) and has not had a non-working year since. He'll be able to collect SS, but we foresee that as the supplement, not the income to live on. We've saved. I know that the management we each work with day-to-day won't be happy to see us go. We've been thoroughly dependable, able to work without supervision (giving our managers a chance to have a life with their families, secure that everything at work is flowing smoothly with us at the helm), and well worth our salaries. Turn our jobs over to younger people, just to make less money? In the long run, given the up-and-coming work force, it won't really be cost effective.
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