Scary scary stuff. Social Security out > in...

[byu71]

BYU71 appears to be upset that I'm claiming he has another 3 or 4 years of expected life remaining.

I must have seen that 18 year figure somewhere before and I forgot.

When I figure out whether I want to take SS at 66 or 70, I use 83 as a date of death.

[Indy Coug]

When I figure out whether I want to take SS at 66 or 70, I use 83 as a date of death.

If you are 65 years old when you are making that evaluation, that's probably a decent assumption. If you are a good Mormon boy who has been doing a pretty good job with the Word of Wisdom, you can probably tack on 3-4 more years for conservatism.

[byu71]

If you are 65 years old when you are making that evaluation, that's probably a decent assumption. If you are a good Mormon boy who has been doing a pretty good job with the Word of Wisdom, you can probably tack on 3-4 more years for conservatism.

Yea, but my doctor told me I could take about 6 years off of my life for being a good mormon boy and keeping the chastity rules.

[Indy Coug]

Yea, but my doctor told me I could take about 6 years off of my life for being a good mormon boy and keeping the chastity rules.

It is a scientific fact that "broken heart syndrome" causes a significantly higher mortality risk for the surviving spouse when their loved one dies. You're free and clear of that particular danger.

[Moliere]

Hey, don't you guys get any ideas about raising the retirement age for SS until I have reached it and have been grandfathered in.

So says the Libertarian on the board

[byu71]

It is a scientific fact that "broken heart syndrome" causes a significantly higher mortality risk for the surviving spouse when their loved one dies. You're free and clear of that particular danger.

Also a fact if you aren't relieving stress on a regular basis you will have early heart problems.

[Indy Coug]

Also a fact if you aren't relieving stress on a regular basis you will have early heart problems.

Do you want your glass half full or not???

[Portland Ute]

Also a fact if you aren't relieving stress on a regular basis you will have early heart problems.

Have you considered self medication for this particular problem?

[byu71]

Have you considered self medication for this particular problem?

Yes, but I want to keep my eyesight.

[Uncle Ted]

So says the Libertarian on the board

I have my 40 quarters of full-time work (and 40 quarters of paying SS) in so I am fully vested. Therefore, I want the government to...

[Portland Ute]

Yes, but I want to keep my eyesight.

You'll probably lose it in old age anyway.

Might as well reduce stress and save your heart.

[Uncle Ted]

80% Of People Contributing To Social Security Will Get Screwed

Fortunately, the Congressional Budget Office has provided the information necessary to look at SS and evaluate how various income groups will fare over their lifetimes. The bottom line is as ugly as it can get. The fact is that SS is stiffing 80% of American workers.

The key statement from the CBO report (link):

For people born in the 1940s or later who have household earnings in the second quintile or above, the present value of taxes will be, on average, more than the present value of scheduled benefits.

Got that lovers of SS? 80% of the people who contribute to SS get less than what they paid in. Only the bottom 20% of income earners have a chance of breaking even.

[Data supporting the above statement is in the article.]

The majority of us are screwed. We were required to pay into a program and promised the impossible. In addition, both Obama and Rmoney said they want to keep social security the way it is: heading for toward the iceberg.

In other related news, the U.S. fertility rate hits the lowest level on record:

Last year the U.S. fertility rate fell to the lowest level since the government began keeping track of the data, the latest evidence that the recession and slow recovery has markedly altered plans for new children, according to this report released today by the Centers for Disease Control and Prevention.

This spells even more doom for the social security system. Declining birthrates means less workers in the future to support the aging population. Of course, China, Japan, and most of Western Europe are heading for the iceberg as well but are in smaller boats.

[All-American]

80% Of People Contributing To Social Security Will Get Screwed



The majority of us are screwed. We were required to pay into a program and promised the impossible. In addition, both Obama and Rmoney said they want to keep social security the way it is: heading for toward the iceberg.

In other related news, the U.S. fertility rate hits the lowest level on record:



This spells even more doom for the social security system. Declining birthrates means less workers in the future to support the aging population. Of course, China, Japan, and most of Western Europe are heading for the iceberg as well but are in smaller boats.

Weren't you paying attention on Wednesday? SS is structurally sound.

[hostile]

80% Of People Contributing To Social Security Will Get Screwed



The majority of us are screwed. We were required to pay into a program and promised the impossible. In addition, both Obama and Rmoney said they want to keep social security the way it is: heading for toward the iceberg.

In other related news, the U.S. fertility rate hits the lowest level on record:



This spells even more doom for the social security system. Declining birthrates means less workers in the future to support the aging population. Of course, China, Japan, and most of Western Europe are heading for the iceberg as well but are in smaller boats.

I've just always assumed that I will never see any of the money that I have paid to SS. It is basically a tax for the privelege of living and working in the US. I love getting the yearly report from SS that shows how much I will receive - it is probably just as factual as the Publishers Clearinghouse mail that I receive.