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Location: Prescott Valley,az summer/east valley Az winter
2,061 posts, read 4,135,306 times
Reputation: 8190
Gee~ as often as I've read this post I haven't seen anyone speak of SS as it really is an INSURANCE policy~ you pay in on the chance that it will benefit you if you live long enough. Do you buy an insurance policy on your live because you know your going to die? And why would you do that~ as you won't be there to get the payoff? Basically we are putting our money in a pool and some will make out with more money than others but it tends to level out over all the payins and payouts. If I live longer I make out, if I die someone else makes out. But in the meantime I get a guaranteed monthly payout that provides some secure income in my retirement from a safer source than the Madoff fund.
SS is one of the best retirement investments that anyone can make.
Gee~ as often as I've read this post I haven't seen anyone speak of SS as it really is an INSURANCE policy~ you pay in on the chance that it will benefit you if you live long enough. Do you buy an insurance policy on your live because you know your going to die? And why would you do that~ as you won't be there to get the payoff? Basically we are putting our money in a pool and some will make out with more money than others but it tends to level out over all the payins and payouts. If I live longer I make out, if I die someone else makes out. But in the meantime I get a guaranteed monthly payout that provides some secure income in my retirement from a safer source than the Madoff fund.
SS is one of the best retirement investments that anyone can make.
Gee~ as often as I've read this post I haven't seen anyone speak of SS as it really is an INSURANCE policy~ you pay in on the chance that it will benefit you if you live long enough. Do you buy an insurance policy on your live because you know your going to die? And why would you do that~ as you won't be there to get the payoff? Basically we are putting our money in a pool and some will make out with more money than others but it tends to level out over all the payins and payouts. If I live longer I make out, if I die someone else makes out. But in the meantime I get a guaranteed monthly payout that provides some secure income in my retirement from a safer source than the Madoff fund.
SS is one of the best retirement investments that anyone can make.
This is indeed the concept of social security. I agree with most of the principles by which the system operates. I do think if the system is going to remain viable in the long term that the social security retirement age must be increased. Social security taxes need to be gradually adjusted upwards as well.
My issues tend to have more to do with hypocrisy. Seniors who take far more out of social security than they put into it and than turn around and whine about young working people wanting universal health care upset me to no end.
This is indeed the concept of social security. I agree with most of the principles by which the system operates. I do think if the system is going to remain viable in the long term that the social security retirement age must be increased. Social security taxes need to be gradually adjusted upwards as well.
My issues tend to have more to do with hypocrisy. Seniors who take far more out of social security than they put into it and than turn around and whine about young working people wanting universal health care upset me to no end.
Add to that seniors who whine about those STATE pensions that are identical in operation to SS. Not all are!
I agree that social security is earned and not an entitlement. People should have to work for it, and most do. What I have issues with is how many people die before they ever get it back. What happens to that money???
I agree that social security is earned and not an entitlement. People should have to work for it, and most do. What I have issues with is how many people die before they ever get it back. What happens to that money???
It gets distributed to the thousands still receiving payments. How can you put $1000 in total, yet get almost that much every month of the rest of your life?
I agree that social security is earned and not an entitlement. People should have to work for it, and most do. What I have issues with is how many people die before they ever get it back. What happens to that money???
The answer is really simple. Its part of the whole concept of social security. If you take 100 people at random out of the population and tax all 100, a certain number will die before the eligibility age. The taxes from those who died before the eligibility age go to fund the pensions for those who live past the age at which benefit eligibility begins.
Its based on the simple concept that you only need a retirement if you live to a certain age. People who die in car accidents, homicides, sudden heart attacks, and drug overdoses don't need a retirement. People who live past the age at which they could reasonably be employed do need a retirement.
If we paid social security benefits to those who didn't need them--such as the heirs of a person who died before benefit eligibility--than we'd have to raise taxes to cover the difference. I don't see alot of enthusiasm for a tax increase.
At age 67 you have about 17 more years of life expectancy. Why? All of the folks who have already passed are no longer in the calculation. Life Expectancy Tables
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