Enjoy your SSI and Medicare Boomers

[Crnr2Crnr]

https://www.businessinsider.com/social-security-run-out-of-funds-2034-pandemic-2021-9

Fucking the next generations just like the 'greatest generation' did before them.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Angry ginger]

funny next door we have a retirement thread going.  if SS is solvent i have enough to retire today but if it does not then i need another 10 years of work/savings and I am a lucky one to have what i have.  the system can't fail without fucking most of the country.     

[Highmark]

The failures of SS mirrors the failures of govt in general.  The larger it becomes the more inefficient it becomes.  

[Angry ginger]

11 minutes ago, Highmark said:

The failures of SS mirrors the failures of govt in general.  The larger it becomes the more inefficient it becomes.  

SS in and of itself works fine and provides a needed safety net.   the abuse of SSDI is out of control though.  

[DriftBusta]

26 minutes ago, Highmark said:

The failures of SS mirrors the failures of govt in general.  The larger it becomes the more inefficient it becomes.  

This.  And if you really want to have a revolution in this country, start fucking over people who’ve paid into the system for 50 plus years before they retire.  oh and fuck off with your fishing thread c2c.

[Highmark]

15 minutes ago, Angry ginger said:

SS in and of itself works fine and provides a needed safety net.   the abuse of SSDI is out of control though.  

Yes SSDI is part of the inefficiency issues however it goes beyond that.  Its not an investment.   It's basically a Ponzi scheme.  Very little of the funds make any money.  I get it that it gives a sense of stability for those retiring who didn't save but considering 12.4% of your money never really "earns" anything is far from a good system.  The loss of that money not earning reasonable interest makes the cost of insurance part of it astronomical.    

Edited September 1, 2021 by Highmark

[Phenom]

LOL, I’m 60 now and have been hearing this doom and gloom since my teens. 

[Angry ginger]

8 minutes ago, Highmark said:

Yes SSDI is part of the inefficiency issues however it goes beyond that.  Its not an investment.   It's basically a Ponzi scheme.  Very little of the funds make any money.  I get it that it gives a sense of stability for those retiring who didn't save but considering 12.4% of your money never really "earns" anything is far from a good system.  The loss of that money not earning reasonable interest makes the cost of insurance part of it astronomical.    

if people had good financial sense then it would not be needed.  i certainly would have saved that 12.4% but most would not.   it's a needed safety net.  

 

 

 

[XCR1250]

2 minutes ago, Phenom said:

LOL, I’m 60 now and have been hearing this doom and gloom since my teens. 

I'm 74 and have also heard this since the 1960's, it will be fine, in fact we'' be getting a decent raise again this coming year.

[ActionfigureJoe]

9 minutes ago, Highmark said:

Yes SSDI is part of the inefficiency issues however it goes beyond that.  Its not an investment.   It's basically a Ponzi scheme.  Very little of the funds make any money.  I get it that it gives a sense of stability for those retiring who didn't save but considering 12.4% of your money never really "earns" anything is far from a good system.  The loss of that money not earning reasonable interest makes the cost of insurance part of it astronomical.    

Social security needs to be a closed system that’s not associated with any type of investment firm. That may be inefficient, but it’s a very safe form of a safety net. The problem with SS is excessive SSDI and excessive borrowing from the fund. 

[ActionfigureJoe]

3 minutes ago, Angry ginger said:

if people had good financial sense then it would not be needed.  i certainly would have saved that 12.4% but most would not.   it's a needed safety net.  

 

 

 

Absolutely. Failure to have that safety net would add a measurable instability to society. That instability would effect everyone. 

[ActionfigureJoe]

2 minutes ago, XCR1250 said:

I'm 74 and have also heard this since the 1960's, it will be fine, in fact we'' be getting a decent raise again this coming year.

I started pulling SS at age 60. It’s mostly reinvested as I don’t need it to survive. But it’s nice to have as back up. Yes, the raise is nice. 

[Highmark]

47 minutes ago, Highmark said:

The failures of SS mirrors the failures of govt in general.  The larger it becomes the more inefficient it becomes.  

 

7 minutes ago, ActionfigureJoe said:

Social security needs to be a closed system that’s not associated with any type of investment firm. That may be inefficient, but it’s a very safe form of a safety net. The problem with SS is excessive SSDI and excessive borrowing from the fund. 

Its a failed system because excessive govt is a failed system.  Govt has no incentive to be efficient.  

Edited September 1, 2021 by Highmark

[snoughnut]

7 minutes ago, Angry ginger said:

if people had good financial sense then it would not be needed.  i certainly would have saved that 12.4% but most would not.   it's a needed safety net.  

 

 

 

You should have passed that advice on to the big Wall Street banks leading up to 2008. 

[Highmark]

49 minutes ago, Angry ginger said:

if people had good financial sense then it would not be needed.  i certainly would have saved that 12.4% but most would not.   it's a needed safety net.  

 

 

 

Not disagreeing that some "safety net" is needed however this is poor as one as man could design. 

Edited September 1, 2021 by Highmark

[DriftBusta]

6 minutes ago, ActionfigureJoe said:

I started pulling SS at age 60. It’s mostly reinvested as I don’t need it to survive. But it’s nice to have as back up. Yes, the raise is nice. 

60?  Do tell.

[ActionfigureJoe]

27 minutes ago, DriftBusta said:

60?  Do tell.

Wife died. 

[Anler]

2 hours ago, Angry ginger said:

funny next door we have a retirement thread going.  if SS is solvent i have enough to retire today but if it does not then i need another 10 years of work/savings and I am a lucky one to have what i have.  the system can't fail without fucking most of the country.     

Well just join the military when you are getting ready to retire, they have nothing but money. 

[teamgreen02]

Today I turned 34, and I'm not planning on any SS for retirement.  If SS is still around when I retire, the full retirement age will have gone up and it will be means tested. 

Anything we do get will likely be invested and left to our heirs.

[Mainecat]

6 hours ago, Angry ginger said:

SS in and of itself works fine and provides a needed safety net.   the abuse of SSDI is out of control though.  

You are correct Karnak

[Mainecat]

6 hours ago, XCR1250 said:

I'm 74 and have also heard this since the 1960's, it will be fine, in fact we'' be getting a decent raise again this coming year.

Don’t spend it all on chain emails.

[racer254]

6 hours ago, Phenom said:

LOL, I’m 60 now and have been hearing this doom and gloom since my teens. 

Exactly.  We are constantly spending trillions in bailouts and relief programs.  If SS benefits run out, the protest will make jan 6th look silly.

[motonoggin]

We should cut all the boomers out of social security as a give back for all the ways they fucked over their children and grandchildren. 

[XCR1250]

59 minutes ago, Mainecat said:

Don’t spend it all on chain emails.

Yes we know, Because chain mails are always lies and the Democrat sites are always the truth.

[XCR1250]

28 minutes ago, motonoggin said:

We should cut all the boomers out of social security as a give back for all the ways they fucked over their children and grandchildren. 

Detailed explanation please?

You do understand then they would be on welfare programs which pay more than SS.