Hell I’m still pissed off at the Reagan administration for raising it to 67 back in the 80’s.
Because of course, the year I was born was the cutoff for that.
Fucking assholes.
And They Can Fuck Straight Off.
Bustednuckles
Documenting The Death Of America
I should probably hate him as well, but if he had not done that, the system would be even closer to collapse than it is now. Too bad they never really invested all that money and instead.gave the government a loan on extremely good terms (for the government).
Investing is not good idea either. The money managers, hedge funds and private equity firms would suck it dry with fees and risky investments. The 2 and 20 crowd’s motto is heads I win and tails you lose.
If you have a chunk of money and you do not invest it, then kiss it good-bye due to inflation (the hidden tax).
There are low and no-fee accounts. If you’re not going to do the research yourself, at least find a low cost index fund that uses the S&P 500, S&P 100, Dow, or Russell 2000.
Full service investing? You’re right. Avoid that like the plague.
You are correct for an individual, but the macro level is different. If too large a share of investment funds is passive it will distort the stock pricing mechanism for individual stocks. Investing the SS fund would add over $2 trillion to the markets.
What’s true for an individual is not necessarily true for the group.
If you take all the fish you can out of a lake that’s good for you but if everyone does it the fish will quickly be gone, hurting to whole.
Passive investing is good for you. If everyone does it the markets wouldn’t function well.
yeah, once they “rolled it over” into the “General Fund” we where fucked.
it was driving the demorats crazy that they couldn’t get their hand on it.
that changed in the late 1960’s. I remember my parents bitching like mad about it.
but really, you don’t need that money anyway. they much rather spend it on their NEW friends like they doing already. let me tell you this, there are a LOT of pissed off people here in the hills of pa at that shit. a lot of people around here paid into that shit for 40 or more years and they are getting LESS than what they giving the damn illegals. and now they looking at the IRA and TSP money held in private hands. here a fun fact, when the gov’t runs short or has a shutdown. GUESS where they get money to operate on ? yup. the TSP accounts.
you might think you have a nice nest egg there, but if that bitch gets in,
there is a damn good chance you will not.
not something I have to worry about, I emptied mine account to pay medical bills
over 10 years ago. I have a friend who plans on working another 2 years to hit 70 and get the max. I just hope it still there when he does. although I have a feeling it will not be there for anyone. not with the way these assholes are spending money ! like that congress critter who was kicked out. he had how many gold bars again ?
Certainly putting SS payments into the general fund was not good. Another place things went inverted was when we let them get away with taking taxes and SS out of our paychecks via withholding. It started small and now it’s a huge amount, yet we frogs allowed ourselves to be boiled one degree at a time. If we had to sit down and write those checks ourselves, none of this shit would have gotten out of hand.
Yeah, that witholding was a “Temporary Wartime Measure” instituted by FDR.
yeah, my grandfather hated that prick with a passion.
used to spit every time he heard that name.
I got extremely lucky in that I slid under the wire and could retire at 66.
But there’s NO excuse for CONgress raiding the SS funds!
The promised minimum for full benefits was 65 when I got my SS card in 1963 or thereabouts, then they started bumping it and it was 66 when my time came.
if I remember right , it was uncle Ted , “the lion of the senate” that pushed it thru by pointing how much “Good” they could do Now with that money. God, my parents hated that man.
funny bit was when my dad would say, in a fair and just world, he be hanging from a pole for all the shit he got away with over the years.
I did a research paper on SS 30 years ago and came to the conclusion I would be lucky to collect a cent. I have 6 years to go and doubt I’ll collect anything.
Which is exactly how the program was designed. It’s a Ponzi scheme more or less.
When Social Security was first put in according to actuarial norms, 95% of the population would have died. Therefore, you would pay into Social Security for the whole of your life, and then do the Gov’t the favor of dying before you could get any money back. But that cynicism wasn’t publicized.
Unfortunately for the Gov’t, medical science has pushed the median death age up to the mid-70’s so now the Gov’t is having to pay back, and combined with a shrinking population, the Ponzi scheme is running out of money,
Another way of looking at it: I read that when Social Security was first implemented, 6 people were paying for 1. When I retire, it’s projected that 3 people will pay for 1. Bets on the system failing before that?
I’m shy of 50 and before I hit high school I knew there would be no retirement for me.
All I do is laugh at clown world, it’s getting so much more interesting.
At 69 I’ve been pulling it for a few years. But I fully expect it to dry up soon. We need to introduce all politicians to lamp post with a boy twenty feet of rope. That might get their attention.
Wonder why they never mention running out of Welfare money?
My shoulder and back are f***ed. I’m 58 and am looking at figuring out what I need to do to make it to 67 (Canada.)
Fuck Trudeau.
Fuck Singh for helping him.
I quit working at 53, so I could ‘retire’ to running the family’s cattle ranch. Some ‘retirement’.
I started to collect SSI ‘benefits’ when I was 62. I’m now 73.
I have no regerts.
My advice – get what you can out of ‘the system’ while you can. The Spades and the ‘Migrants’ are. Why shouldn’t you? Afte all, you sucking hind teat isn’t going to save America. We’re way past that.