Comments on: Will Social Security be around when you retire? http://christianpf.com/social-security-around-retire/ Christian Personal Finance - Financial help blog, debt help and other financial resources Tue, 14 Feb 2012 21:22:01 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: John http://christianpf.com/social-security-around-retire/comment-page-1/#comment-137172 John Fri, 14 Oct 2011 19:55:55 +0000 http://christianpf.com/social-security-around-retire/#comment-137172 I agreed, you should plan your own retirement, but if the government stops collecting our social security tax. I agreed, you should plan your own retirement, but if the government stops
collecting our social security tax.

]]> By: What in the world is going on with the U.S.? | Jay Peroni - Faith Based Investing http://christianpf.com/social-security-around-retire/comment-page-1/#comment-128256 What in the world is going on with the U.S.? | Jay Peroni - Faith Based Investing Mon, 29 Aug 2011 12:41:04 +0000 http://christianpf.com/social-security-around-retire/#comment-128256 [...] bi-partisan committee will be responsible for looking at Social Security,Medicare and Medicaid and any other line items that can add some bang for the buck. The committee [...] [...] bi-partisan committee will be responsible for looking at Social Security,Medicare and Medicaid and any other line items that can add some bang for the buck. The committee [...]

]]> By: Travis http://christianpf.com/social-security-around-retire/comment-page-1/#comment-120950 Travis Mon, 20 Jun 2011 01:10:33 +0000 http://christianpf.com/social-security-around-retire/#comment-120950 The United States will need some form of social security otherwise the government will collapse as we know it. It is in the benefit of Big Brother to pay out social security because this promotes spending. If the older generation has no money then they will not be able to spend and they will depend on their children to take care of them. If their children must take care of them, then their children will have less money to spend. This all leads to a shrinking economy. The government does not want this and I feel they will try to correct the error of their ways. However there is always the chance that they may not be able to correct the problem because they will let it get too out of control. I hope this will not be the case. I feel that there will be some form of social security, but what form and how much is to be seen. The United States will need some form of social security otherwise the government will collapse as we know it. It is in the benefit of Big Brother to pay out social security because this promotes spending. If the older generation has no money then they will not be able to spend and they will depend on their children to take care of them. If their children must take care of them, then their children will have less money to spend. This all leads to a shrinking economy. The government does not want this and I feel they will try to correct the error of their ways. However there is always the chance that they may not be able to correct the problem because they will let it get too out of control. I hope this will not be the case. I feel that there will be some form of social security, but what form and how much is to be seen.

]]> By: Brad http://christianpf.com/social-security-around-retire/comment-page-1/#comment-120932 Brad Sun, 19 Jun 2011 00:01:05 +0000 http://christianpf.com/social-security-around-retire/#comment-120932 What kind of jobs or pay will be available, and how physically demanding will they be. It is fine for the gov. to say work longer when all you can get are minumum wage or on your feet at age 70 or more, not an office job. What kind of jobs or pay will be available, and how physically demanding will they be. It is fine for the gov. to say work longer when all you can get are minumum wage or on your feet at age 70 or more, not an office job.

]]> By: Brad http://christianpf.com/social-security-around-retire/comment-page-1/#comment-120929 Brad Sat, 18 Jun 2011 23:36:04 +0000 http://christianpf.com/social-security-around-retire/#comment-120929 I agree with raising the cap on s.s. earnings. I agree with raising the cap on s.s. earnings.

]]> By: Richard http://christianpf.com/social-security-around-retire/comment-page-1/#comment-105801 Richard Fri, 11 Mar 2011 05:49:11 +0000 http://christianpf.com/social-security-around-retire/#comment-105801 With all this fear-mongering going on about SS I can understand why younger generations do not think it will be there for them but there is really no big problem. A few small steps are needed now to make sure it last. The SS has been having a surplus and it will continue till 2017. The treasury owes the fund over $2T and all that is needed is a reasonable adjustment in the retirement age to 70 and a slight increase in contributions along with the younger workers now joining state government and universities. All new public sector employees should have SS mandatory just like what happened to federal workers some decades back, I forget the exact year. But new federal employees can not get the retirement system I and Pete have. BTW, federal workers have never had collective bargaining for wages and benefits. Of course, if in the future people live much longer than the age will have to be adjusted again. But for your generation, 70 is fine. You can stop working at 40 or younger but can not collect SS till 70. With all this fear-mongering going on about SS I can understand why younger generations do not think it will be there for them but there is really no big problem.

A few small steps are needed now to make sure it last. The SS has been having a surplus and it will continue till 2017. The treasury owes the fund over $2T and all that is needed is a reasonable adjustment in the retirement age to 70 and a slight increase in contributions along with the younger workers now joining state government and universities.

All new public sector employees should have SS mandatory just like what happened to federal workers some decades back, I forget the exact year. But new federal employees can not get the retirement system I and Pete have.

BTW, federal workers have never had collective bargaining for wages and benefits.

Of course, if in the future people live much longer than the age will have to be adjusted again. But for your generation, 70 is fine. You can stop working at 40 or younger but can not collect SS till 70.

]]> By: Jean http://christianpf.com/social-security-around-retire/comment-page-1/#comment-95394 Jean Mon, 27 Dec 2010 04:08:51 +0000 http://christianpf.com/social-security-around-retire/#comment-95394 I don't plan to live on ss only .I would suggest that people copy the ants that work and save for rainy day .In addition ,retell the bible story about"Joseph and Pharaoh'S dreams"(the seven oxen ,seven corn heads.You know what i mean don't procrastinate start now.Yes now. I don’t plan to live on ss only .I would suggest that people copy the ants that work and save for rainy day .In addition ,retell the bible story about”Joseph and Pharaoh’S dreams”(the seven oxen ,seven corn heads.You know what i mean don’t procrastinate start now.Yes now.

]]> By: Khon Kaen http://christianpf.com/social-security-around-retire/comment-page-1/#comment-88343 Khon Kaen Mon, 06 Dec 2010 13:14:45 +0000 http://christianpf.com/social-security-around-retire/#comment-88343 For me, Social Security is gravy. It was not part of my retirement plan and if i do get it at 62 or older, it will be extra bonus money. it will be nice if it is still around - could use the extra bucks here in Thailand. For me, Social Security is gravy. It was not part of my retirement plan and if i do get it at 62 or older, it will be extra bonus money. it will be nice if it is still around – could use the extra bucks here in Thailand.

]]> By: Joe http://christianpf.com/social-security-around-retire/comment-page-1/#comment-63866 Joe Tue, 31 Aug 2010 15:47:47 +0000 http://christianpf.com/social-security-around-retire/#comment-63866 I agree totally with Wise O' owl. I do believe however, that the question of social security being around or not is not even relevant. Simply look up the savings statistics of Americans and the myths we have about what we think our standard of living will be when we retire. The two don't even come close to matching one another. Now imagine all of these retirees with little or no savings and all of the expenses they will still incur through out their retirement years. If social security didn't exist it would plunge our economy into a depression like that of the 1930's or worse. Government will find a way to make it happen regardless of how painful to those of us paying in. I agree totally with Wise O’ owl. I do believe however, that the question of social security being around or not is not even relevant. Simply look up the savings statistics of Americans and the myths we have about what we think our standard of living will be when we retire. The two don’t even come close to matching one another. Now imagine all of these retirees with little or no savings and all of the expenses they will still incur through out their retirement years. If social security didn’t exist it would plunge our economy into a depression like that of the 1930′s or worse. Government will find a way to make it happen regardless of how painful to those of us paying in.

]]> By: Wise O'owl http://christianpf.com/social-security-around-retire/comment-page-1/#comment-48382 Wise O'owl Tue, 22 Jun 2010 01:38:08 +0000 http://christianpf.com/social-security-around-retire/#comment-48382 Social Security is a necessity. People grow old. They haven't the health, or strength to keep working. Many things happen on the way. Accidents, health issues, death of a spouse. Inflation, deflation, wars, taxes. Making plans is OK on paper, but life is not what you can foresee. When there was no "social safety net", there was degrading pitiful poverty,and beggars, and "black folks" in desperate poverty, and poor or no housing. Poverty begets ignorance and ignorance begets poverty. Social Security is a national need as well as an individual need. Our system needs to be overhauled. It is a national pension for citizens, (both men and women, workers, and non-workers get old and need a good pension). The problem is with the current funding system. It worked OK until Medicare came along, which is outrageously expensive, corrupt, and should be de-linked. There should be a means test for the Pension. After all, Warren Buffett, doesn't need it, but under law is entitled to it ! If your net worth is say 5Million, or so, you do not need the Federal Pension. People with low paying jobs, little education, women, underpaid for years, etc. cannot live on the current amounts. People are being given SSI supplements, who were never factored into what was to be a straight forward pension system. The immigration laws were changed to bring in an endless stream of relatives, and if old, they have been given funds. Social Security is a necessity. People grow old. They haven’t the health, or strength to keep working. Many things happen on the way. Accidents, health issues, death of a spouse. Inflation, deflation, wars, taxes. Making plans is OK on paper, but life is not what you can foresee. When there was no “social safety net”, there was degrading pitiful poverty,and beggars, and “black folks” in desperate poverty, and poor or no housing. Poverty begets ignorance and ignorance begets poverty.
Social Security is a national need as well as an individual need. Our system needs to be overhauled. It is a national pension for citizens, (both men and women, workers, and non-workers get old and need a good pension). The problem is with the current funding system. It worked OK until Medicare came along, which is outrageously expensive, corrupt, and should be de-linked.
There should be a means test for the Pension. After all, Warren Buffett, doesn’t need it, but under law is entitled to it ! If your net worth is say 5Million, or so, you do not need the Federal Pension. People with low paying jobs, little education, women, underpaid for years, etc. cannot live on the current amounts. People are being given SSI supplements, who were never factored into what was to be a straight forward pension system. The immigration laws were changed to bring in an endless stream of relatives, and if old, they have been given funds.

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