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And apparently before vocabulary to help with word choice...
It's too late to change what has transpired with a large part of the population at or approaching retirement age. They are going to be taken care of; enough of the electorate is at least somewhat compassionate and we have a safety net. But it is underfunded and something will have to change before too long.
i used to think education was important but now that i got back in to my drumming in retirement , drums are much more importanter
If they are borrowing against it, they are raiding it. That needs to stop.
But the bottom line is people would be far better off if the 13.5% or 14% withholding were deposited directly to their own account from the time they first enter the workforce. And could be invested in stocks and bonds and mutual funds. The benefit at the end would far exceed the puny and putrescent benefit they now receive.
gov't's borrow , that is what they do . they issue bonds and all sorts of groups buy them . it is done to protect the ss money which they obviously do not want in the stock market . i would have loved mine to be , but most of america does not .
If they are borrowing against it, they are raiding it. That needs to stop.
No one is borrowing against it, or raiding it.
Quote:
Originally Posted by ReachTheBeach
But what about those who are unprepared.
What about them?
Quote:
Originally Posted by ReachTheBeach
Do you feel compassion, contempt or ambivalence?
There are way too many other things to worry about.
Quote:
Originally Posted by Marc Paolella
As it stands, Social Security withholdings are dumped into the United States general fund and are wasted.
No, they aren't.
For the last 10 years or so, Social Security has not collected enough FICA tax revenues to make payments to beneficiaries, so money was withdrawn from the OASI Trust Fund to cover the short-falls.
Last year, Social Security lost just over $41 Billion.
Quote:
Originally Posted by ReachTheBeach
Are you sure you have read my posts? I am a 5%er; I have reasonably well funded retirement accounts and will collect the max on SS. It's other people who are not in good shape that I worry about causing the current system to crumble.
To which system are you referring?
People who are not "in good shape" are not going to cause the Social Security system to crumble.
The average Social Security monthly benefits is $1,404, which is too high to qualify for SNAP benefits.
Whether or not $1,404 qualifies for HUD Section 8 benefits depends on where you live in the US, since there are more than 1,500 separately functioning economies and the Cost-of-Living varies dramatically. As a result, some single people earning $26.60/hour qualify for HUD Section 8, while other people earning $7.70/hour earn too much money to qualify for HUD Section 8.
Medicaid is not going to change much, either. With the exception of Medicaid long-term care benefits, you can own a home valued at $500,000 or less and qualify for Medicaid, provided you don't have more than $2,000 in cash or savings of any kind.
And apparently before vocabulary to help with word choice...
It's too late to change what has transpired with a large part of the population at or approaching retirement age. They are going to be taken care of; enough of the electorate is at least somewhat compassionate and we have a safety net. But it is underfunded and something will have to change before too long.
What will have to change is us continuing to follow the path of collectivism, socialism, tyranny, and redistribution. There is zero compassion in that system. We need brains, not compassion, Reason, not Emotion. So number 1, rearrange Social Security-everyone keeps their withholding to themselves in an account administered by a trustee. They get to earn a fortune on their own steam multiplied by the power of the time value of appreciation. Number 2, teach financial management as a core subject every year from kindergarten through graduation. It needs to be drummed into people’s heads that saving and investment is basically the meaning of life. It is more important than anything else. Anyone graduating high school in the United States everyone should have a complete working knowledge of money management and investment.
Money is the root of all good, we just need to teach our children how to achieve that good. And that means not teaching then them the Euro-trash morality of mediocrity, redistribution, collectivism, theft, sacrifice, and the “values” of being a vampire instead of a human being.
gov't's borrow , that is what they do . they issue bonds and all sorts of groups buy them . it is done to protect the ss money which they obviously do not want in the stock market . i would have loved mine to be , but most of america does not .
Most of America would sign on for having their SS withholding deposited in their own individual account and for their own individual benefit in 5 SECONDS so that it could be invested in stocks and bonds that would amass a fortune over the course of a lifetime. People should be allowed to keep what they earn and own and have it work for them in the form of an investment in the economy. Social security is a stupid system. We can take care of our own retirement through education and individual investment. Just give us control over our money and let us put it where it can do the most good: invested in a Capitalist American economy for 50 years straight.
Most Americans suck at investing and want no part of it . they reference it even in these forums with words like casino and gambling .
do you really think these people want their money in equities ?
Last edited by mathjak107; 03-13-2018 at 04:59 PM..
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