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Posted: 6/6/2018 10:03:41 AM EDT
[#1]
My checks aren't bouncing yet, but you fellers might want to figure out a better way!
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Posted: 6/6/2018 10:05:03 AM EDT
[#2]
Quote HistoryQuoted:
When you reach SS age, at least 62, you not only get your age 62 SS but your minor chlldren get 1/2 of your FULL SS RETIREMENT, AGE 66.6 for me, even though you quit working at age 62!!!. This is tax and deduction free. She/we receive this until age 19. But it gets better....my wife who is far from SS age, gets THE SAME 1/2 OF MY FULL SS RETIREMENT. The law states she gets this " to care for my minor child". My net worth is around a million dollar with no debt and payed for home... yet the law provides SS payments to my wife to take care of my 10 year old!!! She gets this until our child is 16. Yes..its all legal....yes it is a legal scam. Yes I'm taking the fucking money. Quote HistoryQuoted:
Quoted: Wait, why does your wife get a check for taking care of her daughter? And why does your daughter get a check? But it gets better....my wife who is far from SS age, gets THE SAME 1/2 OF MY FULL SS RETIREMENT. The law states she gets this " to care for my minor child". My net worth is around a million dollar with no debt and payed for home... yet the law provides SS payments to my wife to take care of my 10 year old!!! She gets this until our child is 16. Yes..its all legal....yes it is a legal scam. Yes I'm taking the fucking money. The law is bad, not you. |
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Posted: 6/6/2018 10:05:52 AM EDT
[#3]
Quote HistoryQuoted:
There should be a way to opt out completely. |
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Posted: 6/6/2018 10:06:14 AM EDT
[#4]
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Posted: 6/6/2018 10:11:23 AM EDT
[#5]
Quote HistoryQuoted:
11 million on SSDI $1200 a mo. Average payout $13 Billion a year. Research admits its insurance for the unemployable. Eligibility doesn't have to come from an MD appraisal. Lesser scribes and pharissees can do. 
ETA it is the SSDI that is broke but in the real world that's a technicality Said he hurt his back and never looked back. |
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Posted: 6/6/2018 10:20:53 AM EDT
[#6]
Quote HistoryQuoted:
I have paid into both Teachers Retirement and Social Security. I get Teachers Retirement so I don't qualify for Social Security. I hope someone enjoys what I paid into SS.  My wife is a retired teacher- gets PEEHIP (Alabama retired employees pension fund) check each month and a Social Security retirement check. PEEHIP is only 63% funded so it's a race to see which will poop out first.
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Posted: 6/6/2018 10:24:46 AM EDT
[#7]
They have reserves? Really?
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Posted: 6/6/2018 10:25:18 AM EDT
[#8]
I am eligible for full Social Security in 2029. Medicare in 2027. According to an article in the WSJ today, Medicare will most likely be insolvent by the time I am eligible OR shortly thereafter. Social Security will be pretty deep in the hole by 2029.
They could easily fix the whole thing by telling those of us born in 1960 and afterwords to forget about ever collecting anything. And to twist the knife a little more, force us to keep contributing through the payroll tax. They could also do what some countries in the EU have done and confiscate private retirement funds (ie. 401k's, IRA's, 403c's) and redistribute them to the government social security system. No I am not supporting any of that, I am just pointing out all the nasty things the government could do if you get the right politicians in place to pass such legislation. After all, they got ObamaCare through with legislative maneuvers. |
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Posted: 6/6/2018 10:27:44 AM EDT
[#9]
I already had a heart attack at 55, my brother died of on at 51. I have doubts about whether I'll ever need to collect SS. No big deal for me.
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Posted: 6/6/2018 10:42:02 AM EDT
[#10]
Everyone complains but how many throw an extra 10-15% in their retirement accounts each year to cover the increased taxes that will likely be levied at some point?
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Posted: 6/6/2018 11:19:52 AM EDT
[#11]
Quote HistoryQuoted:
Collecting yes..... paying no. Quote HistoryQuoted:
Quoted:
There should be a way to opt out completely. |
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Posted: 6/6/2018 11:32:55 AM EDT
[#12]
Quote HistoryQuoted:
Yep. Welcome to 1966. Quote HistoryQuoted:
Quoted:
The reserves that were raided and spent decades ago to buy votes? The only change which occurred in 1966 is that the government made that fact more obvious. |
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Posted: 6/6/2018 11:41:31 AM EDT
[#13]
Quote HistoryQuoted:
I never count SS in my retirement planning. My biggest fear is that they steal from our private retirement accounts. That is why I am bullish on bulldozers |
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Posted: 6/6/2018 12:01:45 PM EDT
[#14]
Quote HistoryQuoted:
By law, every dollar paid in which wasn't paid out in benefits was used to by U.S. government bonds from the start of the scheme. The government promptly spent the money it received in exchange for the bonds. The only change which occurred in 1966 is that the government made that fact more obvious. Quote HistoryQuoted:
Quoted:
Quoted:
The reserves that were raided and spent decades ago to buy votes? The only change which occurred in 1966 is that the government made that fact more obvious. |
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Posted: 6/6/2018 12:04:47 PM EDT
[#15]
Quote HistoryQuoted:
THIS! Quote HistoryQuoted:
Quoted:
If Social Security only payed to those who put in, there would not be a problem. Categorically false, as I demonstrated several pages ago, using data. |
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Posted: 6/6/2018 12:05:02 PM EDT
[#16]
I'm 61 and I've received SSDI since I was 43. I worked full-time since I was 18 years old (and worked as-permitted since age 14). I have a brain disorder that causes seizures that can't be controlled by medication (I have tuberous sclerosis). Why I didn't have any medical issues until I was in my 40's is unknown. I wish I could have continued to work but no one wants someone having seizures all the time. What an I supposed to do? Just die or kill myself because ya'll don't want me taking disability benefits? I don't think it is just a simple matter of who should get disability benefits and who shouldn't. The government is the final arbitrator and they said I qualify for benefits so I take them. Hope and pray that you never find yourself in my shoes.
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Posted: 6/6/2018 12:09:06 PM EDT
[#17]
Quote HistoryQuoted:
How long before they implement a means test? "Oh, you have another retirement, well you don't need SS then. Thanks for paying into it though, sucker." |
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Posted: 6/6/2018 12:11:59 PM EDT
[#18]
I'm 50 and have never counted on SS to bail me out after retirement. I've known about its insolvency since I've been forced to contribute. What a scam that the liberals came up with to buy votes. Our government runs the ultimate Ponzi scheme. Maybe CNBC's "American Greed" should run a show on that.
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Posted: 6/6/2018 12:14:46 PM EDT
[#19]
Quote HistoryQuoted:
I already had a heart attack at 55, my brother died of on at 51. I have doubts about whether I'll ever need to collect SS. No big deal for me. |
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Posted: 6/6/2018 12:26:41 PM EDT
[#20]
It could be fixed in the swipe of a pen. Look at the epic shot ton of money Obama borrowed and also paid the Iranians and other terrorists. Its all bullshit.
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Posted: 6/6/2018 12:26:59 PM EDT
[#21]
Quote HistoryQuoted: I think that’d be Operation Fo Time for me. |
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Posted: 6/6/2018 12:33:04 PM EDT
[#22]
People get all worried about their retirement accounts getting raided. IMO quantitative easing is a far more likely fix.
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Posted: 6/6/2018 12:41:13 PM EDT
[#23]
Quote HistoryQuoted:
If Social Security only payed to those who put in, there would not be a problem. |
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Posted: 6/6/2018 12:48:11 PM EDT
[#24]
Quote HistoryQuoted:
LOL. SS isn’t going anywhere. The money isn’t going to run out. You don’t hear about welfare benefits running out of money do you? SS is just another entitlement to keep the masses happy. |
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Posted: 6/6/2018 12:50:29 PM EDT
[#25]
Quote HistoryQuoted:
Get rid of early retirement at 62 and watch the magic happen. |
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Posted: 6/6/2018 12:52:36 PM EDT
[#26]
Quote HistoryQuoted:
Wonderful.... So glad I'm paying into this bullshit that won't be around in 40 years or so.  |
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Posted: 6/6/2018 12:54:30 PM EDT
[#27]
Quote HistoryQuoted:
Yes indeed. Quote HistoryQuoted:
Quoted:
Get rid of early retirement at 62 and watch the magic happen. SS would still be wildly insolvent sans early retirement provisions. Fact. Please refer to my data posted several pages ago. |
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Posted: 6/6/2018 1:06:54 PM EDT
[#28]
I"m retiring in my 40's, just give me back all the SS I paid in with some interest and call it good.
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Posted: 6/6/2018 2:03:18 PM EDT
[#29]
Quote HistoryQuoted:
They have been pondering that move for a long time...... when they get the nationwide push for guaranteed income for all, they will propose draining everyone's 401k and Roth accounts to fund it Quote HistoryQuoted:
Quoted:
I never count SS in my retirement planning. My biggest fear is that they steal from our private retirement accounts. That is why I am bullish on bulldozers I have had a financial adviser for 12+ years now and when I first started retirement planning with him I told him flat out to NOT include Social Security in any of the retirement models they run. I was lucky in some retirement investments with a previous employer and I have also squirreled away as much as I could by not buying a home, new cars, taking vacations, having a family, etc. so Social Security would only be a bonus now, not a requirement. But as @cyclone notes, and I tend to agree, I think the government at some point will look to raid private retirement accounts to pay for all the people who never saved because they were too poor or they spent it all rather than put some aside for the future. Since there are a hell of lot more of them than there are savers, it should be politically feasible at some point to implement such a confiscation. There is a college professor who has been pushing for this for several years and even testified at Senate hearings on how it would be "fair" to all the people who did not or could not save to take money from people who did and give it to them. From the government's standpoint, it is a win-win because they get a huge infusion of cash to spend on even more stuff while issuing promissory notes and/or using annuities to cover it all. And they go with the principle that "if you rob Peter to pay Paul, you will have Paul's undying gratitude". |
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Posted: 6/6/2018 2:57:20 PM EDT
[#30]
Quote HistoryQuoted:
People get all worried about their retirement accounts getting raided. IMO quantitative easing is a far more likely fix. |
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Posted: 6/6/2018 3:37:29 PM EDT
[#31]
Quote HistoryQuoted: That is also a distinct possibility.......however, we have had a Democratic Congress critter openly speculate on putting all retirements into a pot to give everyone a retirement, whether they deserve it or not...... if they get back in power, nothing would be off the table for them Far more implementable would be a gradual tax on retirement withdrawals. Increase a percent or so each year until you hit a 15% tax on all withdrawals over $30k or so. While I would be pretty unhappy about that type of plan, I'm putting enough back I would still be just fine. |
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Posted: 6/6/2018 3:45:08 PM EDT
[#32]
Quote HistoryQuoted:
It's just not economically viable. It would cause a run as everyone jumps to cash out their retirements and hopes to hold onto the little they can. The market then crashes as .gov takes over. Far more implementable would be a gradual tax on retirement withdrawals. Increase a percent or so each year until you hit a 15% tax on all withdrawals over $30k or so. While I would be pretty unhappy about that type of plan, I'm putting enough back I would still be just fine. Quote HistoryQuoted:
Quoted: That is also a distinct possibility.......however, we have had a Democratic Congress critter openly speculate on putting all retirements into a pot to give everyone a retirement, whether they deserve it or not...... if they get back in power, nothing would be off the table for them Far more implementable would be a gradual tax on retirement withdrawals. Increase a percent or so each year until you hit a 15% tax on all withdrawals over $30k or so. While I would be pretty unhappy about that type of plan, I'm putting enough back I would still be just fine. You are correct...... it isn’t viable, but then these are Democrats and Socialists we are dealing with...... it doesn’t have to work in their eyes, just gain them some votes |
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Posted: 6/6/2018 6:46:13 PM EDT
[#33]
Quote HistoryQuoted:
Everyone complains but how many throw an extra 10-15% in their retirement accounts each year to cover the increased taxes that will likely be levied at some point? |
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Posted: 6/6/2018 7:00:47 PM EDT
[#34]
Quote HistoryQuoted: Max your 401k and your Roth, I think that's the best thing you can do. As you get older, dial the risk back appropriately by moving more into bonds from equity. No matter your age, you should probably have at least 20 percent in bonds. Move that number up as you get older to the point where 60 to 80 percent of your portfolio is in bonds when you retire. The 20 to 40 percent in equities should be in income producing stocks at that time. At least, this is my plan. I'm not even considering Social Security. Also, my Roth is there to pay taxes on my 401k withdrawals. Over the next five years I should be able to move ~$150k from a 401k to a Roth IRA and only eat ~$4k in taxes. Upsides of a big family, lol. |
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Posted: 6/6/2018 7:09:48 PM EDT
[#35]
THERE ARE NO RESERVES FOR SOCIAL SECURITY....THERE ARE NO RESERVES FOR ANY FEDERAL GOVERNMENT PROGRAM.
....sorry for all caps...just had to yell it out for you all. |
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Posted: 6/6/2018 7:09:49 PM EDT
[#36]
Quote HistoryQuoted:
My wife is a retired teacher- gets PEEHIP (Alabama retired employees pension fund) check each month and a Social Security retirement check. PEEHIP is only 63% funded so it's a race to see which will poop out first.Quote HistoryQuoted:
Quoted:
I have paid into both Teachers Retirement and Social Security. I get Teachers Retirement so I don't qualify for Social Security. I hope someone enjoys what I paid into SS. My wife is a retired teacher- gets PEEHIP (Alabama retired employees pension fund) check each month and a Social Security retirement check. PEEHIP is only 63% funded so it's a race to see which will poop out first. |
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Posted: 6/6/2018 7:38:09 PM EDT
[#37]
Quote HistoryQuoted:
If Social Security only payed to those who put in, there would not be a problem. When I think of all that cash flying out of my check over the last 35 years... 
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Posted: 6/6/2018 9:23:06 PM EDT
[#38]
Quote HistoryQuoted:
People get all worried about their retirement accounts getting raided. IMO quantitative easing is a far more likely fix. "By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." The Economic Consequences of the Peace. 1919 |
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Posted: 6/6/2018 9:53:48 PM EDT
[#39]
Quote HistoryQuoted: It amounts to the same thing. "By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." The Economic Consequences of the Peace. 1919 |
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Posted: 6/7/2018 8:29:02 AM EDT
[#40]
Quote HistoryQuoted:
While they both reduce your buying power, you use a different path to prepare for it. "By this method, they not only confiscate, but they confiscate arbitrarily: while the process impoverishes many, it actually enriches some." The effects of inflation spread beyond the economy. "There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does so in a manner which not one man in a million is able to diagnose." (emphasis supplied) |
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Posted: 6/7/2018 8:47:40 AM EDT
[#41]
There haven't been Social Security reserves in decades. The politicians discovered, and spent, them long ago.
My wife will get none of my social security when I die; the law says she can't, so for those of you who get generational payments.... |
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Posted: 6/7/2018 8:59:32 AM EDT
[#42]
This will collapse. I called it here first. Too many dependent and entitled people. Too many spineless government officials. Too much unaccountability.
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Posted: 6/7/2018 9:16:46 AM EDT
[#43]
Social Security was established in 1935 and started paying benefits in 1937. They kicked in at age 65. The average life expectancy was 62. Today there are more people over 100 years old drawing social security payments than there were total participants in 1937. If they tied the program to life expectancy benefits would kick in at around age 80.
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Posted: 6/7/2018 6:00:08 PM EDT
[#44]
Quote HistoryQuoted:
If Social Security only payed to those who put in, there would not be a problem. |
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Posted: 6/7/2018 7:41:42 PM EDT
[#45]
Quote HistoryQuoted:
If we want to maintain SS, there are three solutions: increase taxes/contributions, reduce benefits, and/or add a bunch of workers via immigration or a massive change in the birth rate. |
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Posted: 6/8/2018 12:23:42 AM EDT
[#46]
Quit paying it to people who are still working past 65yo and making over $40k a year.
I had a college professor who was working part time at 70yo and making over $70k, also collecting his 20year military pension, and collecting SS = total was over $120k a year. Take away his SS, until he quits working. |
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Posted: 6/8/2018 1:02:04 AM EDT
[#47]
Quote HistoryQuoted:
If Social Security only payed to those who put in, there would not be a problem. Quote HistoryQuoted:
If Social Security only payed to those who put in, there would not be a problem. They gave money to the .gov That money was immediately turned into IOU's from the .gov to itself and spent. Is anyone here seriously going to argue that if you take your paycheck, buy an IOU from yourself for the value of the paycheck, then take the proceeds from that sale and spend it all on hookers and blow.... that you did not spend your paycheck on hookers and blow? Anyone? Of course not, because that's fucking retarded. Nobody "paid in" to anything. At best, they paid taxes when others did not. Quoted:
Everyone complains but how many throw an extra 10-15% in their retirement accounts each year to cover the increased taxes that will likely be levied at some point? |
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Posted: 6/8/2018 1:09:54 AM EDT
[#48]
One of the fringe benefits of being able to retire in my mid 30s is that I am able to no longer pay into this fucking scam and never will again in my life.
Warms my heart whenever I think of it. |
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Posted: 6/8/2018 1:29:18 AM EDT
[#49]
I love Social Security threads.
It reminds me that a large chuck of so called conservatives only want to cut other peoples' welfare and not their own. |
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Posted: 6/8/2018 1:54:35 AM EDT
[#50]
Great i plan on retiring in 2035
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