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.
I was not implying that the immigrants are "faking" disability in order to claim SSDI benefits. In fact, I believe that most of them come here to work. they want a better life for themselves just like you and I would. It's not thier fault that our stupid Gov't makes it so easy for them to qualify for so many benefits. If someone waved $1,000 in your face, would you take it?
A citizen or "resident alien- Permanent resident" will qualify for SS and Medicare in their old age as long as they have worked 40 qtrs (10 yrs). the yearly amts that they earned from the "old country" are averaged in as "zeroes" in the SS system, which is too dammed robin hoodish.
thanks for the clarification. i misread what you wrote earlier
I love this arbitrary "above 55" age limit that keeps getting passed around.
I am 47 years old. There is VERY little I can do to make other plans if in the next year or two they decide that reduced benefits will be given to those under 55. I already max out my 401K, I have my own savings, and I have a small pension at my job that, if they don't get rid of that, will give me about $18,000 a year to live on (before taxes).
So if they change the rules now? How am I supposed to make up the difference in reduced benefits at this point in my life? I can see where someone who is 25 can do it. Retirement planning/savings is a long-term venture that capitalizes on compounding interest. I'm already starting to get to a stage where financial advisors want me in a lower risk investment. Oh and add to that the huge hits most people's 401Ks took in 2008.
I'm just not liking that approach at all because even with today's rate of SS benefits that I'll *maybe* receive, plus my 401K, and my pension, I think I'm going to have to move to a dirt road in Arkansas or something.
Same boat here, your best bet is to plan on a lot less. The biggest problems will hit in the next few years and any changes will hurt Gen-X, make it easier on the Millinials and boomer's.
Get rid of the payroll cap. I have hit the cap for many years and fully expect to draw from it so why shouldn't I pay more in?
I'm not overly keen or increasing the age because, frankly, it gets hard to work when you get into your 60s. My mom is very healthy and has finally retired from a high-stress job at age 67. She just couldn't take it anymore--the commute, the 10 hour days and the pressure--not like she could in her 40s and 50s. I think mentally, it would have been tough to go on 3 more years, and she needs that SS money.
I agree with eliminating the cap. I also agree with keeping the retirement age as is. I am 62, and have a high physical stress job (floor nursing). I don't know how much longer I can do this. Many nights, I basically collapse when I get home. DH, 63, has a desk job and he is more tired when he gets home now than he used to be.
I agree with eliminating the cap. I also agree with keeping the retirement age as is. I am 62, and have a high physical stress job (floor nursing). I don't know how much longer I can do this. Many nights, I basically collapse when I get home. DH, 63, has a desk job and he is more tired when he gets home now than he used to be.
No one says you can't retire early. You can choose to downsize, use other assets, live with family, etc. SS is only meant to be a portion of your retirement.
Everyone is saying "I don't want to make hard choices", the problem is we will all be forced to make hard choices very soon. It is better to make it orderly than in a panic.
If the retirement age is increased the outcome the Fed will strive for is for folks taking the early out, thus reduced benefits for most. What will be interesting is will medicare coverage kick in at a later stage in life.
I don't know which class of people who are referring to. People who never paid into Social Security don't get Social Security retire benefits.
Technically that is not true, if you are retired or disabled and you have children under 18 they can collect also. Currently 4.4 million kids are receiving a total of $2.4 Billion a month. Benefits For Children
Also spouses who never worked can collect a spousal benefit (usually half of the husbands).
I sympathize with this, but one of the reasons SS is going bankrupt is that no one expected people to live as long as they do now. We have to address that, I would think.
Part of it is having a better healthcare system, and a more ingrained social understanding of the need for vacation/rest/exercise while we're young and working, to help us stay productive into our 70s.
I. . .don't. . . think. . . so! People put way too much faith in "a healthy lifestyle" to cure all ills. Biology is still biology.
Quote:
Originally Posted by jasper12
First, I would end all social security for children under the age of 18, children should be supported by their parents.
Second, I would end all social security disability payments being made to children of disabled folks.
Third, I would end all social security payments being made to children of dead parents. They have a living parent that can support them.
Fourth, I would have all people on social security disability re-evaluated, and be given jobs that would be suitable for their disability, don't work, don't get money. These could be "created" jobs, cleaning, answering phones, some sort of community volunteer work.
Fifth, I would end social security payments to those with income or assets over $2,00,000. Social security should not be an entitlement program, it should have eligibility attached to it.
God in Heaven! I agree that some of the SS policies about children were created back in the day when women didn't work, and life is different now. But why punish children b/c a parent (usually a father) died? My aunt got SS for her kids back in the 50s/60s. In re: disability, some are so disabled they can't work, not even answering phones or as volunteers doing community service. I also disagree with the means testing. The big issue with SS that some people have is that it is not inheritable, e.g. you can't pass it on to your kids, so leave the personal savings alone. Such a policy would also create all sorts of creative ways to get around it.
Quote:
Originally Posted by legalsea
In general, I agree. We pay out some $115 billion each year for people on 'disability', many of whom can do some type of work. However, we have not had a 'grand review' of those on the disability rolls since President Reagan (who ordered such: I know, I started working for Social Security during that period).
Of course, many of the most polific posters on this board would be harmed if we again reviewed for medical improvement etc.
Pity, that.
I will note that there is a difference between the SSI program (an eligibility program based on need) and Social Security Disability Insurance (based on the amount you paid into your SS account).
It wasn't necessary to bash the CD posters.
Quote:
Originally Posted by hilgi
No one says you can't retire early. You can choose to downsize, use other assets, live with family, etc. SS is only meant to be a portion of your retirement.
Everyone is saying "I don't want to make hard choices", the problem is we will all be forced to make hard choices very soon. It is better to make it orderly than in a panic.
Well, sure. And before you go about bashing me further, we do have considerable savings and retirement plans. Let's not make this personal, OK?
A single nurse, who worked all her career in nursing, would not have a huge pile of savings. Single mom nurses who get no money from the "deadbeat dads" likewise would have little savings, as most of their income would have gone to raising their family. The fact is most retirees live mainly off SS. There's also the issue of health insurance. You can retire at 62, but you can't go on Medicare until 65.
I agree with eliminating the cap. I also agree with keeping the retirement age as is. I am 62, and have a high physical stress job (floor nursing). I don't know how much longer I can do this. Many nights, I basically collapse when I get home. DH, 63, has a desk job and he is more tired when he gets home now than he used to be.
Paul Krugman wrote about this:
Quote:
Oh, and they’re talking about raising the retirement age, because people live longer — except that the people who really depend on Social Security, those in the bottom half of the distribution, aren’t living much longer. So you’re going to tell janitors to work until they’re 70 because lawyers are living longer than ever.
Put all the "monies" which were "raided" back into the fund. I'm talking about all the "monies" which have been 'redirected' since the program was initiated... Adjusted for Inflation...and with Interest.
Limit Social Security to people who have actually paid into the system. The elderly parents of recent immigrants should not be getting SSI. If the Government wants to support them, it should do so from another fund.
If the Government is having trouble finding the money to re-fund Social Security, then it can stop throwing money away. Maybe starting with the program to teach Africans how to wash their Genitals. Curtailing pointless, expensive wars would also be an excellent way to save a few hundred billion here and there...
And it shouldn't matter if a person is a Quadrillionaire: having paid into the system, that person should be eligible for benefits.
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.
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.
