U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 03-09-2016, 10:12 AM
 
Location: Great State of Texas
86,093 posts, read 72,507,006 times
Reputation: 27565

Advertisements

Quote:
Originally Posted by selhars View Post
By soon, you mean????

I'm a late-stage baby boomer, turning 56 in June, and hoping to retire at 65.
That's NOT soon enough for me psychologically, and MAY not be soon enough to BE RETIRED before any 'big' changes.
I pray every day I get old enough to make it in under the wire.
Well one bit I have read with all the various proposals for changes.
Any long term changes would effect those 55 and younger. Their rational is that 10 years (55-65) is not long enough to recoup from any changes.

So consider June one hurdle to celebrate !

 
Old 03-09-2016, 11:01 AM
 
Location: Backwoods of Maine
7,116 posts, read 8,154,458 times
Reputation: 18766
It positively does not matter who "wins" (loses?). The president has not been The Decider for decades now. Decisions are made at a much higher level of international power. It has already been decided who will be the next president. We don't vote for a president; we vote for a delegate, who then decides for us. Bernie or Trump could win enough for nomination, and still not be nominated.

As for SS and Medicare, they will last as long as they don't go broke. The WILL go broke. It's just a matter of when the string-pullers decide to stop diverting funds from other accounts.

Those who will get hurt most, are those who are not tightening their belts now, and reining in spending. Those who live in high COL areas and won't sell an expensive house, or those spending lots on fancy vacations, will wish they hadn't. The writing's on the wall. Put on your glasses.
 
Old 03-09-2016, 11:14 AM
 
Location: The South
5,225 posts, read 3,635,618 times
Reputation: 7906
I'm 78 and it doesn't matter much to me at all.
 
Old 03-09-2016, 12:50 PM
 
Location: Albuquerque NM
1,660 posts, read 1,525,009 times
Reputation: 3640
Quote:
Originally Posted by HappyTexan View Post
Well one bit I have read with all the various proposals for changes.
Any long term changes would effect those 55 and younger. Their rational is that 10 years (55-65) is not long enough to recoup from any changes.

So consider June one hurdle to celebrate !
Does that include proposals to means-test SS or increase Medicare Part B premiums for those "rich" single retirees with more than $85K AGI? I don't get the impression that the over 55 crowd is exempt from these proposals and those are of the most concern to me.

"If you're already retired or retiring soon it won't matter one tiny little bit. Don't lose sleep over it."

Then as others have pointed out, there are the concerns of low interest rates and few available low risk investments that have any decent returns. This causes Safe Withdrawal Rates to go lower and lower (e.g., was 4%, now 3%). Soaring home and rental prices in the more desirable retirement destinations. ACA could be terminated and that would impact many early retirees. There have been some grumblings about Roth IRAs being too good of a deal (although I would like to see tax exempt income and non-residential real estate included for the purposes of means testing SS, ACA subsidies, etc.). What to do about SSI/SSDI. There are all kinds of things to worry about!
 
Old 03-09-2016, 01:02 PM
 
Location: Arizona
5,946 posts, read 5,302,666 times
Reputation: 17951
I vote according to what I think is best for the country not what is best for me.
 
Old 03-09-2016, 01:21 PM
 
Location: SW Florida
9,759 posts, read 7,035,798 times
Reputation: 14295
At this point I just can't imagine the outcome. Seems obvious that the public in general has had it up to here with establishment politicians, and wants a nonestablishment candidate in office, and the establishment party members on both sides are just as determined to thwart the obvious will of the people and put their Chosen into office any way they can.

I'm just glad I'm not any younger than I am. It's not my world anymore.

But as always, I will research the candidates as well as I can, and vote for those I consider the best choices.
 
Old 03-09-2016, 01:42 PM
 
3,945 posts, read 3,262,973 times
Reputation: 11315
Seeing as how the entire political arena is one of party duels being the real main event, I'd have to say that I don't think either party is beholden to the masses as much as they have been looking out for the upper class interest. However, the senior view of politics seems to be one of concern for the various programs that help provide for the senior economic interest. Seniors in that upper strata have little to fear from either party, but, those on the lower rungs of society, seniors AND the college bound millennials, welfare recipients, veterans, and others that rely on the government largess may not fare well regardless of which party comes to the White House.

After witnessing the election of Reagan and Arnold to government office I won't be surprised to see my countrymen vote in the Donald as their new-found savior, after eight years of Obama's promises failing to materialize I think the Democrats have realized their infatuation with the messiah charade has accomplished near zero in the results space, conversely, the Republicans seem to have taken up the messiah challenge this round with the pompous Trump as their new hope and change mouthpiece, and seniors are increasingly becoming marginalized in the political arena, as both parties are now catering to the Twitter crowd. Privatization of SS remains a very big topic among the Wall Street darlings, the real power behind BOTH parties.
 
Old 03-09-2016, 04:39 PM
 
6,253 posts, read 4,731,924 times
Reputation: 12845
Quote:
Originally Posted by Southern man View Post
I'm 78 and it doesn't matter much to me at all.
I am behind you by quite a few years but I still would like to live at least to 90. Personally I think the politicians have a lot of power to muck things up (and unfortunately almost no ability to fix things).


We could see a seriously worsening economy, higher taxes, more foreign wars, less in the way of benefits. Our educational system could continue to erode. We can hardly produce scientists anymore and are worse off now than when Sputnik gave us a temporary wakeup call. We have a government that cannot protect itself from Chinese cyberspying. We have a government that cannot crack the security of an iPhone but wants Apple use their engineers to do this. Actually an increasing portion of Apple and Silicon Valley engineers are now foreign trained.
 
Old 03-09-2016, 06:32 PM
 
Location: Gulf Coast
1,162 posts, read 649,789 times
Reputation: 2254
Capital Gain tax does impact us. We have a house and a business to sell. I'm not sure I trust the 2 front runners to do what they say, anyway. And I'm not happy that over these last years we've gotten almost 0% on our $ set aside. It really doesn't seem fair.

The real impact of the next president is their choice for Supreme Court. There may be up to 4 slots coming open, with 1 now if it is left for the next President to do, so this president is indeed an important decision.
 
Old 03-09-2016, 06:57 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by Travelassie View Post
At this point I just can't imagine the outcome. Seems obvious that the public in general has had it up to here with establishment politicians, and wants a nonestablishment candidate in office, and the establishment party members on both sides are just as determined to thwart the obvious will of the people and put their Chosen into office any way they can.

I'm just glad I'm not any younger than I am. It's not my world anymore.

But as always, I will research the candidates as well as I can, and vote for those I consider the best choices.
We know enough about the "candidates" to vote tomorrow.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top