Reply to If you could opt out of social security, would you?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm a late baby boomer (almost 50) so SS has been in perpetual peril my whole life. I understand the basics of the program but still don't think of it as a "retirement" plan, at least, not like other retirement plans, which are built around the individual. We have a HHI under $100k and get by living inside the beltway - own a house but bought it at the peak - and one 10-year old car.

Anyway, it seems those better off than me figure they could do better without SS by just keeping and investing the money. And they might be right. A lot of those making less than me would end up like I probably would; the money would just get sucked up with the ongoing debt, car repairs, braces and broken appliances than regularly wreck my budget. If we all suddenly had more cash, housing and such would get bid up in price because us poor suckers would just spend it.

Despite efforts to get Americans to save for retirement, MOST Americans get MOST of their income from Social Security after they stop working because MOST of us aren't earning twice the national average (about $50k HHI) and because we SUCK at saving.

So, I guess the answer is that I would not opt out. It's a shared pool retirement plan. Most Americans will lean heavily on its benefits and I think its long term health is best served by keeping everybody in it.

It's not a calculation. At least, not a personal one.[/quote]

the self entitled boomer generation thanks for sticking us with the bill , no other generation including future will retire earlier than 70.[/quote]

+ 100. Go suck it Baby Boomers. Jobs without the required MA, houses for well south of 300K and no gadgets or Disney on EVERY item in Target that I have to buy my kid every week.

Enjoy your equity, thanks for nothing. [/quote]

I can't figure out what the last two posters are saying.[/quote]

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