Working well into your 70s because you can’t afford to retire.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been assuming that SS will be means tested or otherwise not available by the time I retire.

There's an easy fix: Eliminate or raise the $127,200 cap on SS contributions, and implement means testing, since folks like Warren Buffett do not need SS. Those two things alone would make SS solvent for the next couple of generations.

The upper-middle class liberals here would scream holy terror.

I posted earlier. We are done with the cap by mid March. It's ridiculous that we aren't asked to pay more into the system.

[Anonymous]

I hope to retire, but having a sizable portion of the population as a leisure class (rather than being physically incapable of work) seems unnatural.

I would imagine that once our current economy collapses, the notion of retirement might change.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been assuming that SS will be means tested or otherwise not available by the time I retire.

There's an easy fix: Eliminate or raise the $127,200 cap on SS contributions, and implement means testing, since folks like Warren Buffett do not need SS. Those two things alone would make SS solvent for the next couple of generations.

The upper-middle class liberals here would scream holy terror.

I posted earlier. We are done with the cap by mid March. It's ridiculous that we aren't asked to pay more into the system.

The system isn't setup to give you an even higher benefit so its moot.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been assuming that SS will be means tested or otherwise not available by the time I retire.

There's an easy fix: Eliminate or raise the $127,200 cap on SS contributions, and implement means testing, since folks like Warren Buffett do not need SS. Those two things alone would make SS solvent for the next couple of generations.

The upper-middle class liberals here would scream holy terror.

I posted earlier. We are done with the cap by mid March. It's ridiculous that we aren't asked to pay more into the system.

The system isn't setup to give you an even higher benefit so its moot.

It’s not “moot” to the overall health of the Social Security system.

[Anonymous]

Anonymous wrote:It’s not country’s job to fix. They should have saved more when they were young.

How could they save more when they were young when our government changed the rules in the 1970s? Prior to that, one person could work, afford housing and a decent life while the other parent raised the kids. Health care was affordable, college was even affordable (and not even necessary since we still had blue collar jobs that paid a fair wage). And the biggest issue: wages never kept pace with the cost of housing or living.

Now it takes a dual income, and even then it's a struggle. Housing is too costly, child care is too costly, and everyone is drowning in student debt. And apparently healthcare is a privilege for the anointed ones.

Yet you think everyone should magically be able to save enough for retirement?

Guess what? A 65 year old man died over the weekend because he was living in his car since he could no longer work construction and simply couldn't afford a place to rent. And mark my words: we will see more of this as the elderly simply can't afford to support themselves.

I don't blame senior citizens who worked hard and still struggle. Rather, I feel disgusted by our country that has devolved to such a sad state that our elderly aren't provided with high quality healthcare and can't afford food, shelter, etc. It's appalling. This is 2018 in what used to be the greatest country on the planet. FTR, I'm a bleeding heart liberal who blames the democrats just as much as the republicans. The sea change that shifted our country to one that put corporate needs above the needs of actual people didn't happen without both parties ripping up the play book and crafting a new deal that screws most Americans.

It's time for a mutiny.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been assuming that SS will be means tested or otherwise not available by the time I retire.

There's an easy fix: Eliminate or raise the $127,200 cap on SS contributions, and implement means testing, since folks like Warren Buffett do not need SS. Those two things alone would make SS solvent for the next couple of generations.

They should definitely raise the SS contribution cap. We are done with that by March. It's ridiculous. I wouldn't want to means test. These programs work best when there is skin in the game for everyone.

Agree with this (and it would mean a substantial tax increase for our family). I don't like the means testing, either. I think everyone should have skin in the game and yeah, if you've paid into the system, you deserve to get something back, whether or not you "need" it.

A large proportion of what we make above the cap is contributed to our retirement savings. Thanks to the "Trump bump" in the market over the last year, our planner told us last week we can retire 2 years sooner than we expected. We were elated. I would rather manager my own money for retirement rather than giving it to the government.

The extra money would be going to help seniors across the country but I guess that's not your jam.

Who is going to help me? SS is going to insolvent by the time I hit retirement age.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s not country’s job to fix. They should have saved more when they were young.

How could they save more when they were young when our government changed the rules in the 1970s? Prior to that, one person could work, afford housing and a decent life while the other parent raised the kids. Health care was affordable, college was even affordable (and not even necessary since we still had blue collar jobs that paid a fair wage). And the biggest issue: wages never kept pace with the cost of housing or living.

Now it takes a dual income, and even then it's a struggle. Housing is too costly, child care is too costly, and everyone is drowning in student debt. And apparently healthcare is a privilege for the anointed ones.

Yet you think everyone should magically be able to save enough for retirement?

Guess what? A 65 year old man died over the weekend because he was living in his car since he could no longer work construction and simply couldn't afford a place to rent. And mark my words: we will see more of this as the elderly simply can't afford to support themselves.

I don't blame senior citizens who worked hard and still struggle. Rather, I feel disgusted by our country that has devolved to such a sad state that our elderly aren't provided with high quality healthcare and can't afford food, shelter, etc. It's appalling. This is 2018 in what used to be the greatest country on the planet. FTR, I'm a bleeding heart liberal who blames the democrats just as much as the republicans. The sea change that shifted our country to one that put corporate needs above the needs of actual people didn't happen without both parties ripping up the play book and crafting a new deal that screws most Americans.

It's time for a mutiny.

+ 100 correct and beautifully stated! thank you!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yet immigrants bring their elderly relatives who didn’t work a day here but get Medicare, Medicaid,subsidized housing and whatnot.
Fwiw I am an immigrant.

Correct - it’s scandalous what chain migration has done and this is one of many ill effects.

Whose idea was chain migration?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Social Security should be three times what it is today.

FWIW, my opinion is that private saving for retirement is challenging on many levels. Capacity to save, discipline to save, and acumen to manage retirement savings. There are many very successful people who have a very difficult time doing this.

From an actuarial perspective, it's exceptionally hard to do with an n of 1, or 2 for married couple.

Why is it so hard to save? I made an average salary my entire career, always lived below my means, and saved 10% - 15% of my income. Sure, I didn't go out to eat as frequently as my friends, book expensive hotels for vacations to Hawaii like they did, buy timeshares, buy the top trim model of cars, stretch big-time to buy property (or even a second home), buy expensive designer brand purses and clothes.

Today, those same friends are 60ish and tell me they can't stop working for the foreseeable future. I am younger (slightly) and can retire at any time.

Did you raise kids?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s not country’s job to fix. They should have saved more when they were young.

How could they save more when they were young when our government changed the rules in the 1970s? Prior to that, one person could work, afford housing and a decent life while the other parent raised the kids. Health care was affordable, college was even affordable (and not even necessary since we still had blue collar jobs that paid a fair wage). And the biggest issue: wages never kept pace with the cost of housing or living.

Now it takes a dual income, and even then it's a struggle. Housing is too costly, child care is too costly, and everyone is drowning in student debt. And apparently healthcare is a privilege for the anointed ones.

Yet you think everyone should magically be able to save enough for retirement?

Guess what? A 65 year old man died over the weekend because he was living in his car since he could no longer work construction and simply couldn't afford a place to rent. And mark my words: we will see more of this as the elderly simply can't afford to support themselves.

I don't blame senior citizens who worked hard and still struggle. Rather, I feel disgusted by our country that has devolved to such a sad state that our elderly aren't provided with high quality healthcare and can't afford food, shelter, etc. It's appalling. This is 2018 in what used to be the greatest country on the planet. FTR, I'm a bleeding heart liberal who blames the democrats just as much as the republicans. The sea change that shifted our country to one that put corporate needs above the needs of actual people didn't happen without both parties ripping up the play book and crafting a new deal that screws most Americans.

It's time for a mutiny.

I meant to include that the 65 year old man died in his car in Bethesda. That's right...Bethesda. Seniors who lived and worked in our area their entire lives are struggling to literally survive.

Do you know anyone with cancer? My mom's cancer shots are $3k apiece. Medicaid doesn't cover it. At some point we simply won't be able to afford them anymore I suppose.

I saw an older man at Righttime in Olney recently. He was trying to negotiate a price to have a doctor take a look at a painful infection. He obviously couldn't afford it. I stood up to walk over and see if I could help him out, but he walked out before I could speak with him. He left without getting any help. He reminded me of my dad. I felt horrible.

How did we get here? How can we have a system that so obviously doesn't prioritize the needs of people? You know, it is possible for health care providers and insurers and pharmaceutical companies to turn a profit without making healthcare completely unattainable for so many. It's depressing that greed has completely overtaken our society, government and seemingly everything that impacts our lives.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s not country’s job to fix. They should have saved more when they were young.

My dad DID save. My mom has not had a full time job ... ever in my life. My dad got laid off a few times in his career, once right before finding out he needed open heart surgery, right at the start of the recession. Sometimes luck is not on your side. He is a hard worker. He has a master's degree. He is one of two old guys at his company.

Your mom will get SS spousal benefits even though she hasn't paid in...she also will NOT have to pay medicare part A -hospitalization - as the spouse of a payor for 40 quarters.

So why didn't she work? One way to raise SS benefits for US citizens is to not pay SSI for immigrants and non-citizens lacing 40 quarters. I found out this infamy existed on a DCUM thread. FYI-they also can get medicare and subsidies-NOT the real premium.

Most people don't have pensions while govt workers and teachers etc have great pensions. I was surprised at a Wash Post article where pensions were lost-overly generous pensions with extremely low retirement ages.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yet immigrants bring their elderly relatives who didn’t work a day here but get Medicare, Medicaid,subsidized housing and whatnot.
Fwiw I am an immigrant.

Correct - it’s scandalous what chain migration has done and this is one of many ill effects.

Whose idea was chain migration?

Trump needs to cut it, remove their existing social security benefits, kick them out of section 8, etc. Sorry but some one has to do it. Chain migration wasn't always this nightmare. Nor was birthright citizenship. Abuse of the USA.

[Anonymous]

Anonymous wrote:Yet immigrants bring their elderly relatives who didn’t work a day here but get Medicare, Medicaid,subsidized housing and whatnot.
Fwiw I am an immigrant.

Right you are. Chain migration gets them here and ten years later they are dumped on the welfare state.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been assuming that SS will be means tested or otherwise not available by the time I retire.

There's an easy fix: Eliminate or raise the $127,200 cap on SS contributions, and implement means testing, since folks like Warren Buffett do not need SS. Those two things alone would make SS solvent for the next couple of generations.

The upper-middle class liberals here would scream holy terror.

LOL! Yeah, sure. My income is well above the cap but I wouldn't "scream holy terror." We aren't wired that way. We aren't greedy and selfish the way you are.

Meanwhile, did you lose a talking point somewhere, the one where you always try to portray liberals as "takers" living on welfare who want everything for free? Guess even you know that to be false, given you're acknowledging the existence of us hard working UMC liberals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yet immigrants bring their elderly relatives who didn’t work a day here but get Medicare, Medicaid,subsidized housing and whatnot.
Fwiw I am an immigrant.

Correct - it’s scandalous what chain migration has done and this is one of many ill effects.

Whose idea was chain migration?

It’s been a bipartisan effort but Ted Kennedy’s immigration law really kicked things off in the 1960s.