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My father after working his whole adult life gets more money than he knows what to do with on social security. He never even has to touch his 401k money, but he's always been on the fiscal conservative side which is where I got it from.
He's not one to own motorhomes, boats, and jet around the world every month. He has his routine and enjoys it.
As i tell my parents and inlaws. "You can't take it with you".
Here is the cold hard truth. Everyone can't be financially responsible and have millions saved up. Most people will not be able to survive when they physically cannot work anymore. Idk about you but I'd rather keep seniors off the street and panhandling than send men into space and mars and build more nukes and weapons.
understand what this means tho....under OLD expired, no longer in use, cant get it, shucks and darn rules, feds that retired previously (a few still left) are on a plan called FERS which they get INSTEAD of SS. cuz of that, an increase to SS reflects to them. Feds who use CSRS get no such bump. and many of their thift plans are down 20-50% this year alone.
and I got $5 here that says that 8.7 is whittled down drastically when the budget eventually does pass, which if the house turns - and it will - will not happen at all, and we will be on a CR an NO ONE gets an increase.
Just correcting this. CSRS is the older plan that no one can get on anymore and they don't get SS as they never paid into it. FERS is the "newer" defined pension.
I spoke to a friend yesterday whose sister lives in a 55 plus community in Phoenix. They had a space rental deal where you paid $4500 up front for the year. They doubled it to $9,000 a year for next year.
Because they can. The demand for goods and services is crazy.
Just correcting this. CSRS is the older plan that no one can get on anymore and they don't get SS as they never paid into it. FERS is the "newer" defined pension.
Lots of CSRS retiress drawing SS from other employment.
Lots of CSRS retiress drawing SS from other employment.
Of course. But they obviously held other jobs that allowed them to pay into it. In explaining the typsical government CSRS package, though, people should understand that those employees did not pay into SS through their government service.
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