Social Security seems a little shakey now for the past 20 years.and it seems it could be discontinued as we know it today, and become a thing of the past, do you think that is possible? I`m not losing any sleep over the thought now, but thought I`d ask in case there are others who`ve noticed some of the open cracks that it can fall through.
2006-07-20 19:59:51 · 7 answers · asked by Anonymous in Politics & Government ➔ Government
And SS has always deducted Mooorre $ $$$$$ from my pay checks than anyone else. Then when it`s time to draw, they make you feel you`re applying for welfare. lol.
2006-07-20 20:19:52 · update #1
trapshooter you`re smart!
2006-07-20 20:21:58 · update #2
Yes, it will be around, but in another form.It will be like a private retirement account, you will have more options of where to invest the money there, etc. Also you will be able to pay in more if you want to. I suggest that one opens a private account if one wants to pay in more, just for the piece of mind that will give. Two accounts are better than one.
More needs to be paid in because of the USAs population growth and immigration. The baby -boomers will need to work longer and why not, they are in better health, also they have not saved enough privately to retire in the manner in which they are use to spending anyway. There is a sliding scale as to retirement age. Now it is 65-67. (The retirement age is 67, for those born after 1962-- I think) At least in the USA one can work longer than 65-67if one wishes.
The retirement age needs to be raised to age 70 for those born after 1945 or so. This is a matter of mathematics and economics. Too many baby-boomers.
Socialized medicine should replace Medicare. Everyone needs medical care and we all need to bite the bullet and pay for it. No more free rides. This would make Medicare obsolete and would save money in the long run, especially if most people work until age 70 to pay for this.
Retirement is boring! Work is fun and a wonderful social activity!
2006-07-20 21:42:34 · answer #1 · answered by Alea S 7 · 1⤊ 1⤋
For anyone 50 or younger, I would certainly consider paying into a Roth IRA. Your contributions are after tax, and the withdrawals are TAX FREE, regardless of how much the Roth earned over the years. It is the best deal going, if not one that grows the way a riskier investment MIGHT, like picking stocks, etc. Of course, if anyone is lucky enough to have an employer that contributes a portion of the amount you contribute. that is super too, but the employer contribution would be taxable when withdrawn, and we all know taxes are never going to go down.
2015-03-06 08:08:27 · answer #2 · answered by ettucat 2 · 0⤊ 0⤋
Yes, when it was started most people did not live long enough to collect. Today they do. I was born in 1965 and do not expect it to be there for me.
2006-07-20 20:06:05 · answer #3 · answered by cyn1066 5 · 0⤊ 0⤋
Not only is it possible, it is likely. I have a private retirement account set up. I dont think SS will be around when I retire.
2006-07-20 20:03:50 · answer #4 · answered by Trapshooter 3 · 0⤊ 0⤋
nuthin's gunna be around cause good ole georgie has already screwed up this country and im sure just about everything else he can...woo hoo! go bush you dumb redneck moron!
i voted for pedro!
i get ssi and only get 440$per month and i have a son...so you tell me...i dont think much of nuthin is gunna go well for a long time....so start saving and investing!
2006-07-20 20:06:34 · answer #5 · answered by ~raychill~ 1 · 0⤊ 1⤋
If you can do math you know the answer is yes. Bush has been saying this for 15 years!
2006-07-20 21:18:25 · answer #6 · answered by Craig 2 · 0⤊ 0⤋
best ask george w!
2006-07-20 20:05:32 · answer #7 · answered by courtney 2 · 0⤊ 0⤋