It Is Past Time To Raise The SS And Medicare Eligibility Ages

[Admiral Rockwell Tory]

So back to 1982.

The life expectancy at birth in 1982 was 74.36 years. 70.8 years for men, 78.1 years for women.

Today, the life expectancy at birth is 78.69 years. 76.3 for men, 81.2 for women.


Congress only added TWO years to the retirement age, yet we are living more than FOUR years longer now.


It is time to apply some common sense. We are LIVING longer, we should be WORKING longer.

There simply is no comeback to counter that logical, common sense argument.

We need to raise the retirement age to 70, immediately, and index it to 9 percent of the population going forward.

This would go a long, long way toward balancing the federal budget.

Yeah ....no.....raise it immediately to 67......and we'll go from there after Congress cuts some of the royal perks they get.

OK, here we have an example of someone commenting on the problem without understanding the issue.

I just turned 58 years old, but I have 9 and a 1/2 years left until I can draw my full SS benefit.

Let's do the math, shall we? 58 + 9 1/2 = 67 1/2. That's already my retirement age, but you want to RAISE it to 67?

Last time I checked that would be lowering the retirement age.

People comment on these topics yet don't understand even the basics.

Yeah 1 person = everyone....great comp there buddy.

Please show me where I said "everyone".

You are just pissed because you were caught with your pants down again!

 

[WorldWatcher]

OK, here we have an example of someone commenting on the problem without understanding the issue.

I just turned 58 years old, but I have 9 and a 1/2 years left until I can draw my full SS benefit.

Let's do the math, shall we? 58 + 9 1/2 = 67 1/2. That's already my retirement age, but you want to RAISE it to 67?

Last time I checked that would be lowering the retirement age.

People comment on these topics yet don't understand even the basics.

Maximum full retirement age (currently for SS) is 67. There is no "full retirement age" of 67 1/2.

I was born December 1959 (age 58 also) is 66 years 10 months.

Benefits Planner: Retirement | Full Retirement Age | Social Security Administration


EDIT:

I was born in November 1960 and I have 67 1/2 as my retirement age.

OK, that would make your full retirement age then 67.

.>>>>

 

[Skull Pilot]

And when a recession and depression comes along and you lose it???

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

And don't waste your pity skull, give it to the morons who support this garbage in our WH

I'll pity anyone I want to.

That you can't see that SS has kept you poorer than you need to be deserves pity

I was poorer in my 20's early 30's but not since then and that was long long ago

as you should have been

but you can't see the possibilities the money taken from you by the government would have afforded you

 

[Skull Pilot]

you don't lose all your money if you manage your investments

and if you had control of your own money you would be getting a hell of a lot more out that the government will give you

see the example I posted earlier in the thread

And when a recession and depression comes along and you lose it???

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

If you are retired and don't own bonds you are an idiot.

Equities grow capital
Bonds preserve capital

I'm not looking to preserve capital my holdings will take care of themselves I'm looking to grow so there'll be more for my family when my time comes

As long as the market doesn't turn when you die and your family gets much less

 

[edward37]

Just for ease of writing purposes, I am henceforth going to call the Social Security and Medicare eligibility age the "retirement age".

In 1982, a very cowardly Congress raised the retirement age from 65 to 67. I call them cowardly because the 67 retirement age would not take full effect until 40 years in the future, after most of them were dead. They did not raise the retirement age immediately because they did not want to piss off the voters, and the 20 year olds who would be affected didn't vote in large numbers.

But consider the following facts.

1) In 1935, when Social Security was enacted, the average life expectancy was 60.

2) In 1935, only 5.4 percent of the US population was over the age of 65. Social Security was intended to support those who lived past the average. It was not an "entitlement" for everyone. It was INSURANCE.

3) In 1965, when Medicare was added to the entitlement package, only 9 percent of the US population was over the age of 65. Remember that 9 percent figure.

4) Today, around 15 percent of the US population is over the age of 65.


What this means is that we have an unsustainable trend of a greater and greater proportion of Americans being supported by a smaller and smaller proportion of Americans.

Take a look at this: Social Security History

In 1940, there were 159.4 workers for every Social Security recipient.

By 1960, there were 5.1 workers for every Social Security recipient.

Today, there are only 2.8 workers for every Social Security recipient.

And this trend is just going to get worse.

More in the next post.

After being told all my life that social security is at age 65, I and everyone born January 1, 1960 and after, have to wait two more years.

I missed that cut off by 6 lousy months. Had I been born 6 months earlier, it would still be 65 for me. Just as I was getting close to seeing that end goal, the goal posts were moved on us.

If you want to change retirement age again then do it on people who aren't working yet. Not on us who have spent decades in the work force and are close to that end goal.

Actually it started for those born in 1955, so your 6 months earlier would not have helped you much.

I was born in November 1960 and I have 67 1/2 as my retirement age.

Why not 62?

 

[Skull Pilot]

Just for ease of writing purposes, I am henceforth going to call the Social Security and Medicare eligibility age the "retirement age".

In 1982, a very cowardly Congress raised the retirement age from 65 to 67. I call them cowardly because the 67 retirement age would not take full effect until 40 years in the future, after most of them were dead. They did not raise the retirement age immediately because they did not want to piss off the voters, and the 20 year olds who would be affected didn't vote in large numbers.

But consider the following facts.

1) In 1935, when Social Security was enacted, the average life expectancy was 60.

2) In 1935, only 5.4 percent of the US population was over the age of 65. Social Security was intended to support those who lived past the average. It was not an "entitlement" for everyone. It was INSURANCE.

3) In 1965, when Medicare was added to the entitlement package, only 9 percent of the US population was over the age of 65. Remember that 9 percent figure.

4) Today, around 15 percent of the US population is over the age of 65.


What this means is that we have an unsustainable trend of a greater and greater proportion of Americans being supported by a smaller and smaller proportion of Americans.

Take a look at this: Social Security History

In 1940, there were 159.4 workers for every Social Security recipient.

By 1960, there were 5.1 workers for every Social Security recipient.

Today, there are only 2.8 workers for every Social Security recipient.

And this trend is just going to get worse.

More in the next post.

After being told all my life that social security is at age 65, I and everyone born January 1, 1960 and after, have to wait two more years.

I missed that cut off by 6 lousy months. Had I been born 6 months earlier, it would still be 65 for me. Just as I was getting close to seeing that end goal, the goal posts were moved on us.

If you want to change retirement age again then do it on people who aren't working yet. Not on us who have spent decades in the work force and are close to that end goal.

Actually it started for those born in 1955, so your 6 months earlier would not have helped you much.

I was born in November 1960 and I have 67 1/2 as my retirement age.

Why not 62?

Why not 58?

When you allow the government to confiscate your money you let the government make decisions for you

 

[Manonthestreet]

So back to 1982.

The life expectancy at birth in 1982 was 74.36 years. 70.8 years for men, 78.1 years for women.

Today, the life expectancy at birth is 78.69 years. 76.3 for men, 81.2 for women.


Congress only added TWO years to the retirement age, yet we are living more than FOUR years longer now.


It is time to apply some common sense. We are LIVING longer, we should be WORKING longer.

There simply is no comeback to counter that logical, common sense argument.

We need to raise the retirement age to 70, immediately, and index it to 9 percent of the population going forward.

This would go a long, long way toward balancing the federal budget.

Yeah ....no.....raise it immediately to 67......and we'll go from there after Congress cuts some of the royal perks they get.

OK, here we have an example of someone commenting on the problem without understanding the issue.

I just turned 58 years old, but I have 9 and a 1/2 years left until I can draw my full SS benefit.

Let's do the math, shall we? 58 + 9 1/2 = 67 1/2. That's already my retirement age, but you want to RAISE it to 67?

Last time I checked that would be lowering the retirement age.

People comment on these topics yet don't understand even the basics.

Yeah 1 person = everyone....great comp there buddy.

Please show me where I said "everyone".

You are just pissed because you were caught with your pants down again!

LMAO at your pathetic gotcha

 

[edward37]

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

And don't waste your pity skull, give it to the morons who support this garbage in our WH

I'll pity anyone I want to.

That you can't see that SS has kept you poorer than you need to be deserves pity

I was poorer in my 20's early 30's but not since then and that was long long ago

as you should have been

but you can't see the possibilities the money taken from you by the government would have afforded you

Monthly ,how much more would that have been ? Not so much at least in my case .For many, they live on that SS check mine just accumulates in a bank

 

[Admiral Rockwell Tory]

OK, here we have an example of someone commenting on the problem without understanding the issue.

I just turned 58 years old, but I have 9 and a 1/2 years left until I can draw my full SS benefit.

Let's do the math, shall we? 58 + 9 1/2 = 67 1/2. That's already my retirement age, but you want to RAISE it to 67?

Last time I checked that would be lowering the retirement age.

People comment on these topics yet don't understand even the basics.

Maximum full retirement age (currently for SS) is 67. There is no "full retirement age" of 67 1/2.

I was born December 1959 (age 58 also) is 66 years 10 months.

Benefits Planner: Retirement | Full Retirement Age | Social Security Administration


EDIT:

I was born in November 1960 and I have 67 1/2 as my retirement age.

OK, that would make your full retirement age then 67.

.>>>>

Thanks for the correction! I tried finding the reference before I posted but could not. I was confused because my wife's retirement is 66 1/2.

My previous point for the other poster still stands. If my full retirement age is 67 now and he want to increase it to 67, how will that help?

 

[Admiral Rockwell Tory]

So back to 1982.

The life expectancy at birth in 1982 was 74.36 years. 70.8 years for men, 78.1 years for women.

Today, the life expectancy at birth is 78.69 years. 76.3 for men, 81.2 for women.


Congress only added TWO years to the retirement age, yet we are living more than FOUR years longer now.


It is time to apply some common sense. We are LIVING longer, we should be WORKING longer.

There simply is no comeback to counter that logical, common sense argument.

We need to raise the retirement age to 70, immediately, and index it to 9 percent of the population going forward.

This would go a long, long way toward balancing the federal budget.

Yeah ....no.....raise it immediately to 67......and we'll go from there after Congress cuts some of the royal perks they get.

OK, here we have an example of someone commenting on the problem without understanding the issue.

I just turned 58 years old, but I have 9 and a 1/2 years left until I can draw my full SS benefit.

Let's do the math, shall we? 58 + 9 1/2 = 67 1/2. That's already my retirement age, but you want to RAISE it to 67?

Last time I checked that would be lowering the retirement age.

People comment on these topics yet don't understand even the basics.

Yeah 1 person = everyone....great comp there buddy.

Please show me where I said "everyone".

You are just pissed because you were caught with your pants down again!

LMAO at your pathetic gotcha

My pathetic gotcha?

My retirement age is already 67 and you want to raise it to 67? Exactly how does that help?

 

[DGS49]

There are a number of strategies to sort out the projected "bankruptcy" of Social Security, Medicare, and the Federal Government in toto.

Raising the retirement age is problematic. As one in his 70th year, I can tell you that you DO deteriorate, both physically and mentally, and I think 70 is the limit. Obviously, many people COULD work beyond that age, and do, but you have to consider the large percentage of the population that couldn't do it. Also - although nobody talks about this - African Americans, and especially males, have relatively short life expectancy, and at 70, MORE THAN HALF of African American males would never collect. That's harsh.

Clearly, the earnings cap is the first and easiest thing to kill. SS should be paid on all income, period.

Second, there should be some "means testing." That is, if I have a couple million in investments or assets, I really don't need to be getting $2,500 a month in SS. The problem with means testing is that it would be so easy to cheat - hide or transfer assets.

Third, we could implement an "Ice Floe" strategy. Esquimoes were long believed to simply send old bastards out on an ice floe when they got too old to pull their own weight. In this country, we have MILLIONS of people in various kinds of facilities who are non compos mentis, or only hanging on to keep their doctors in business. Fuck 'em. Give them a pile of happy pills so that they can accelerate the trip to their Ultimate Reward.

 

[Skull Pilot]

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

And don't waste your pity skull, give it to the morons who support this garbage in our WH

I'll pity anyone I want to.

That you can't see that SS has kept you poorer than you need to be deserves pity

I was poorer in my 20's early 30's but not since then and that was long long ago

as you should have been

but you can't see the possibilities the money taken from you by the government would have afforded you

Monthly ,how much more would that have been ? Not so much at least in my case .For many, they live on that SS check mine just accumulates in a bank

You're still not getting what you could have.

think about it SS including the employer match is 14.4% of your lifetime income.

What you get from SS is so much less than you would if you controlled that money

 

[edward37]

And don't waste your pity skull, give it to the morons who support this garbage in our WH

I'll pity anyone I want to.

That you can't see that SS has kept you poorer than you need to be deserves pity

I was poorer in my 20's early 30's but not since then and that was long long ago

as you should have been

but you can't see the possibilities the money taken from you by the government would have afforded you

Monthly ,how much more would that have been ? Not so much at least in my case .For many, they live on that SS check mine just accumulates in a bank

You're still not getting what you could have.

think about it SS including the employer match is 14.4% of your lifetime income.

What you get from SS is so much less than you would if you controlled that money

So much less if I controlled the money? No guarantee.. I just think millions are counting on their SS and as folks are living longer they are still able to sustain themselves Yes if I took all that $$ and invested in AAPL or BA I'd be better off

 

[Skull Pilot]

I'll pity anyone I want to.

That you can't see that SS has kept you poorer than you need to be deserves pity

I was poorer in my 20's early 30's but not since then and that was long long ago

as you should have been

but you can't see the possibilities the money taken from you by the government would have afforded you

Monthly ,how much more would that have been ? Not so much at least in my case .For many, they live on that SS check mine just accumulates in a bank

You're still not getting what you could have.

think about it SS including the employer match is 14.4% of your lifetime income.

What you get from SS is so much less than you would if you controlled that money

So much less if I controlled the money? No guarantee.. I just think millions are counting on their SS and as folks are living longer they are still able to sustain themselves Yes if I took all that $$ and invested in AAPL or BA I'd be better off

They are counting on it because they have been told and worse yet they believe the government can do better with their money than they can

 

[edward37]

I was poorer in my 20's early 30's but not since then and that was long long ago

as you should have been

but you can't see the possibilities the money taken from you by the government would have afforded you

Monthly ,how much more would that have been ? Not so much at least in my case .For many, they live on that SS check mine just accumulates in a bank

You're still not getting what you could have.

think about it SS including the employer match is 14.4% of your lifetime income.

What you get from SS is so much less than you would if you controlled that money

So much less if I controlled the money? No guarantee.. I just think millions are counting on their SS and as folks are living longer they are still able to sustain themselves Yes if I took all that $$ and invested in AAPL or BA I'd be better off

They are counting on it because they have been told and worse yet they believe the government can do better with their money than they can

How many would have burned that pittance each month rather than put it aside for investment purposes? I believe that most folks welcome their SS every month and don't concern themselves with woulda shoulda coulda

 

[Skull Pilot]

as you should have been

but you can't see the possibilities the money taken from you by the government would have afforded you

Monthly ,how much more would that have been ? Not so much at least in my case .For many, they live on that SS check mine just accumulates in a bank

You're still not getting what you could have.

think about it SS including the employer match is 14.4% of your lifetime income.

What you get from SS is so much less than you would if you controlled that money

So much less if I controlled the money? No guarantee.. I just think millions are counting on their SS and as folks are living longer they are still able to sustain themselves Yes if I took all that $$ and invested in AAPL or BA I'd be better off

They are counting on it because they have been told and worse yet they believe the government can do better with their money than they can

How many would have burned that pittance each month rather than put it aside for investment purposes? I believe that most folks welcome their SS every month and don't concern themselves with woulda shoulda coulda

And that's the problem

Just take your Soma and be content

 

[Lesh]

What you get from SS is so much less than you would if you controlled that money

IF you "control your money correctly". Few can do that. The stock market is GAMBLING.

And then there's 2008. HALF the value disappeared almost over night and that can happen at any time

 

[Thinker101]

What you get from SS is so much less than you would if you controlled that money

IF you "control your money correctly". Few can do that. The stock market is GAMBLING.

ANd then there's 2008. HALF the value disappeared almost over night and that can happen at any time

Spoken like a true liberal, that can't control anything....but wants to control everything.
The Five Biggest Stock Market Myths

 

[danielpalos]

Compensation for capitalism's natural rate is more cost effective and market friendly. Social security could be phased out, eventually.

 

[edward37]

Monthly ,how much more would that have been ? Not so much at least in my case .For many, they live on that SS check mine just accumulates in a bank

You're still not getting what you could have.

think about it SS including the employer match is 14.4% of your lifetime income.

What you get from SS is so much less than you would if you controlled that money

So much less if I controlled the money? No guarantee.. I just think millions are counting on their SS and as folks are living longer they are still able to sustain themselves Yes if I took all that $$ and invested in AAPL or BA I'd be better off

They are counting on it because they have been told and worse yet they believe the government can do better with their money than they can

How many would have burned that pittance each month rather than put it aside for investment purposes? I believe that most folks welcome their SS every month and don't concern themselves with woulda shoulda coulda

And that's the problem

Just take your Soma and be content

The truth is if I hadn't been receiving it the past many years I wouldn't have missed it But what of the many millions who would? Surely as an American you can understand that ?