Social Security isn't "drying up" nearly as bad as most people say it is.

And Faithful, raising taxes 1% is more than a drop in the bucket. If you can raise the payroll tax to cover incomes just even a little bit, that would do wonders.

And that's if you take the argument that the government needs to raise revenue to fund programs at face value... but let's not start a fiat currency discussion, that will bring out the NWO conspiracy theorists.

The income cap is like $110,000, which is ridiculous.

Sorry for the quadruple post, but the propaganda campaign against Social Security is soooo ridiculous. It is led by banks because banks want more privatized retirement programs because more privatized retirement programs = more fees.

As a program itself, from administrative costs to effective distribution, Social Security is well run.

I hear you oak, one of the major problems is the dissapearance of the middle class, and yet the republicans continue with the tax cuts for the rich, which is no solution to job-creating, and they wont be content until there is nothing but rich, and poor, and they will never give up until they accomplish that goal.

not to mention wanting to give social security to wall street, if that happens, god help us all.

I agree........... but banks and wall street will never give up trying to privatize S.S. so they can raid and loot the fund.

and the republican party is complicit in this criminal conspiracy.

If you want to bury your head in the sand, that's up to you. Social Security is being paid by current employees to fund retirees and the disabled. It's a huge pyramid scheme and eventually those pyramids collapse.

Read the Trustees Report: https://www.ssa.gov/oact/trsum/

Then consider our aging population with insufficient economic growth. It's not rocket science. In 2034 benefits will be limited to 79% and it will decline from there. It can't be looked at in isolation either. The national debt is about $20 trillion and unfunded mandates raise it up to about $230 trillion (numbers range from about $180 to $280 trillion). It's not some "vast right-wing conspiracy." It's reality. Deal with it.

Live off the land? That is doubtful

You don't need the government if you make smarter choices in life; if you can't afford something don't buy it. Save money if you don't want to trust an ira or 401k put money in a saving or money market h*ll even a cd to try and get some interest on it. If you don't want to save money that is on the individual

Someone said don't mention fiat money and ironically that's one of the main reasons so many people end up having to depend on SS because of a devalued fiat currency and artificially low interest rates that make saving much harder for an average person.

Definitely hard to save, banks don't make it easy (part of the reason why I left my job in banking, they didn't care about people only CEO making money) But you always have options.

I'd suggest checking out: The Richest Man in Babylon by George S. Clason and The Only Investment Guide You'll Ever Need by Andrew Tobias

[Edit] Also The Intelligent Investor by Benjamin Graham

Maybe check out this App interesting concept

https://www.acorns.com/

Not advettsing or telling people to use it do your own research first

Dude,

you have the right attitude and ideas about saving and investing. start early, stay consistent, live a lifestyle that can be sustained even in stormy situation.


One recent victory for young people was the Credit Card act of 2009.Some of the provisions protect young people from themselves and keeps them from getting further into debt before they even enter the workforce.

Are you going to use social security? Are you now?

If it's worth anything by the time I retire. if I had the opportunity to opt out of it now and not pay and do my own savings with the extra money, I'd do that.

That's what I thought.

You're sitting here mocking people who are dependent on social security when you admit that you're not about to turn it down when you're eligible.

You're really chicken shit.

You're a lunatic. And I mean that in the most serious way. Not just a cheap insult.
Every time I make the mistake of trying to engage with you on a human and rational level you come back with some way out there troll kind of response.

I'm "mocking" people huh? Yeah sure. You're out of your mind.

You have a condescending, shit attitude toward people that need social security. It was obvious in your previous comment. You talk about them as if they're flawed, as if they made a mistake. I knew you were going to answer yes when I asked you if you're going to draw social security. You won't be dependent on it, but you'll take the money anyway? You're just cheap and chicken shit.

"I would opt out"

Oh, sure. You know you can't really do that, so you'll just say that you would, even though you'll never be put to the test. That's the equivalent of flipping someone off on a freeway while they're on the exit ramp. You're a cheap, chicken shit person.

You're full of projection. There was absolutely no condescending or shit attitude anywhere in my post what so ever. You're reading into it with what you want. You have all these preconceived notions about people that you talk to on here, I've noticed. You like to shove words into people's mouths and misrepresent everything they're saying.

You're a true bigot in the purest definition of the word.

"big·ot·ry
ˈbiɡətrē/
noun
intolerance toward those who hold different opinions from oneself."

If you were even semi rational or intelligent, you would've read my post in full context and seen that the EXACT opposite is the case. I'm showing EMPATHY for the average person that is having a hard time saving money in a low interest rate environment. That includes MYSELF. Idiot. Low interest rates discourage savings. Basic shit. it has nothing to do with other people "making mistakes." That's your own words you made up. Nothing to do with what I said. That's crazy talk.

What, you think I'm exempt from the banking and monetary policies of this country? Lol.

You just cannot, in any way, entertain an opposing view point of somebody else for even one minute without assuming they're a Terrible person with sinister motives.

That's why you troll people so hard, with non arguments and insults.

Bullshit. You were separating yourself from people "dependent" on social security, otherwise why would you even single them out in the first place? Most people who bash social security are just like you. You guys are glad to draw it yourselves, but you think others are weak because they use it. You act as if they made bad choices, didn't save, etc. But, oh, you'll take social security because heck, why not? But you don't NEED it, you just want to make that clear. You do need it. And now you're in the shout box talking about how your whole family's on social security. Look at you now, mr. humbled working man all of a sudden. A half hour ago you were Warren freaking Buffet. Save your guilt trips. You were being an obnoxious asshole and I called you on it.

So by acknowledging that it's harder to save money in this monetary environment, I'm:

1. Mocking people on Social Security.
2. "Separating " myself from people dependent on it? Lol maybe because I'm not on it?
3.I'm acting like Warren Buffett.

Wow. You've completely lost it.

You need government. You use government every day. You're going to draw social security. You just tell yourself a bunch of bs lies to separate yourself from others that do it, like SoCal does.

Oh, shut up.

I never said government doesn't do good things I also have little choice when it comes to using government. Maybe I will maybe I won't we will see what happens when I reach that age. I will tell you this much I will not be dependent on it.

What lies have I said? I said people should make smarter choices throughout their life so they don't need to be dependent on government when they are older

Raise the cap on the payroll tax. As I said before.

Just curious, leaving the monthly SS check out of the discussion-

What do you plan to do for health insurance when you're older and no longer working?

Do you plan to buy a private health insurance plan out of your savings, or will you use Medicare (and just pay privately for the supplemental insurance/drug plans that most medicare recipients use)?

Hm I guess I will know for sure in 30 years, but it will be expensive if I pay for private, Medicare maybe depending on where I am at in life or the state of the country.

I try to save as much as possible, I meet my companies 401k match plus 4% to Roth IRA (obviously because it is after taxed money) I buy bulk a lot as well so my hope is I can save enough to cover all expenses. That being said I am currently single and have no kids so I have the luxary of having few expenses

Right now Medicare and suppliment medical costs about 170 a month for a pretty good plan. My co payments are low reg Doctor 5 dollars and specialist co pay 15.

That's it.

Buying in bulk when Ma died. We go to her apartment to clean it out. I found 200 rolls of toilet paper in a closet:) she had no car?

Before you retire you have to think a head. Do that you will be fine. Don't do it you won't be fine.

Medical plans will go up soon. A lot of good plans are leaving NYC for example.

Obama care expenses is the reason. Hillary will keep it so they are going to change a lot of things to keep it going. One is no more filing a joint return on income taxes and other taxes will go up to pay for it.

But everything is fine Hillary will fix everything except her own physical condition that I hear is getting worse. She knows just what to do

Relevant article on the Obamacare bubble about to burst:

http://www.cnbc.com/2016/08/09/the-big-obamacare-bubble-is-about-to-explode-commentary.html

"Real hourly compensation decreased 0.4 percent after revision, rather than the previously-published increase of 4.2 percent." -- Bureau of Labor Statistics, August 9, 2016
http://www.bls.gov/news.release/prod2.nr0.htm

What do you think is going to happen when you get older to where you would not need social security?

The Obama everything was supposed to explode from the second he took office. It never did. You know what did explode? The Bush economy.