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Old 11-13-2018, 09:36 AM
 
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We want to enjoy whatever we have . I think we get 40k in ss between the two of us and that is still only about 25-30% of our budget. Our goal in retirement has always been to live better than we did while working ,saving and raising a family.

We would never restrict ourselves to say just a lifestyle where ss paid the bills. We want that lifestyle to be whatever we can buy within budget .

But that’s us
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Old 11-13-2018, 12:11 PM
 
Location: Pennsylvania
12,466 posts, read 4,216,580 times
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Quote:
Originally Posted by mathjak107 View Post
We want to enjoy whatever we have . I think we get 40k in ss between the two of us and that is still only about 25-30% of our budget. Our goal in retirement has always been to live better than we did while working ,saving and raising a family.

We would never restrict ourselves to say just a lifestyle where ss paid the bills. We want that lifestyle to be whatever we can buy within budget .

But thatís us
But SS was designed to combat old age poverty and keeping your grandparents from having to eat cat food to survive. I'm happy for your success --- but situations like yours, that are repeated thousands of times over, nationwide....are why we have a social security problem.
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Old 11-13-2018, 12:27 PM
 
71,500 posts, read 71,674,131 times
Reputation: 49074
No you are wrong .going back as far as the original version of ss in 1899 it was only designed to replace 30% of a typical income . It is right on the ss website . Later Roosevelt boosted it up so it was about 50% . with average wages they say it should be about 40%.

Go to ss history on the ss website.there are charts showing you the percentage of income ss replaced and it started at 30% day one

Last edited by mathjak107; 11-13-2018 at 12:42 PM..
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Old 11-13-2018, 03:29 PM
 
Location: RVA
2,164 posts, read 1,265,106 times
Reputation: 4451
Beergeek40: What would be the incentives to succeed if you knew the wealthy would be footing the bill for your minimal retirement while they contributed the most and got nothing? How long do you think anyone would put up with that? Do you realize that max earners pay in more than 3 times the amount to FICA but get less than 50% more? High earners already pay the most, get the lowest amount back percentage wise AND get to be taxed twice on the money they get. We are also the least likely to even get back all that we/employers paid in as premiums. Jeez!
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