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I remember reading that, years ago, 1 in 3 people didn't live long enough to retire and half of the ones who did, died within a year of retiring. The system was set up to fund 1 in 3 people. There have to be major changes to the system if it is to survive.
If Medicare is not significantly reformed in the in very near future, it's likely 2/3 will not be around long enough to realize much of the Social Security benefit.
Exactly. The average age of Americans life expectancy in the 1930s was around 63-66 years old.
These days the average American can expect to live until ages 75-80.
Factory in more and more American applying for 1. Disability plus more and more Americans filing for early (reduced) social security benefits at age 62, one can easily see why we have or will have major problems funding social security.
It was 59 the year Social Security was created and about 10 years before Penicillin first became available. Prior to this, people routinely died from a simple absessed tooth.
The primary reason why SS is a tad of a challenge is that funds were never earmarked as "Do Not Open till 65". Instead, funds were invested in treasuries and created more money for Government to spend, while leaving IOUs in the box. This is what Obama inherited from prior administrations. It's an easy fix compared to Medicare.
Not every America is average and those who don't live until retirement age lose every cent they paid in. Longevity is correlated with income and it's the working class that's getting screwed.
Oh, and life expectancy is declining for working class white Americans.
Die early, the middle class needs your Social Security 'contributions'.
There is a huge actuarial correlation between edeucation and longevity. People with less education tend to maintain less healthy lifestyles and avoid going to the doctor because they don't want to hear it or know.
Best guess on my part is that more than half of the so-called middle class do not havea college degree.
There is a huge actuarial correlation between edeucation and longevity. People with less education tend to maintain less healthy lifestyles and avoid going to the doctor because they don't want to hear it or know.
Best guess on my part is that more than half of the so-called middle class do not havea college degree.
There's also a correlation between education and income. Educated people with low incomes probably don't lead lives as healthy as educated people with high income - anecdotally. I live a high-stress life (always worrying about money and the high expectations placed on me by my family) and when money is tight I go for the cheap carbs instead of a healthy diet. I doubt the educated poor live as long as the uneducated rich but the MSM doesn't report those numbers.
Jeepers, creepers, where'd they get those...skills? Not much skill gained from flipping burgers.
LOLZ. I don't think burger flippers are middle class, but go work out on an oil rig for a few years and you'll be middle class as long as you don't spend your money like a drunken sailor. Plenty of well paying jobs that most people don't want to do or most people can't do.
LOLZ. I don't think burger flippers are middle class, but go work out on an oil rig for a few years and you'll be middle class as long as you don't spend your money like a drunken sailor. Plenty of well paying jobs that most people don't want to do or most people can't do.
Of course not...what I meant is, "burger flippers don't gain skills on the job, so how do middle class workers gain skills on the job?" Very few people actually work on oil rigs. (My landlord does work on an oil rig...he re-roofed the house in two days. He's got skills.)
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