Should the Social Security and Medicare Age be Raised

Of course they would.

They are flatly against anything private it seems. But I am not a left winger or a right winger so I could give two shits what one or the other side will fight against. I would guess you, most likely, will not agree with the other side of that equation that I spoke of earlier as well: you want more people paying into the system then immigration is the way to make that happen.

The right shits a brick when talking about immigration, which allows you to get more people paying into the system, and the left will shit a brick when you talk about moving more of that wealth into the hands of the actual people rather than the government busybodies.

Okay, so you get more people into the system with immigration. Then how do we support them when they get older? Even more immigration?

Everything looks good in theory, but how many people do you think we can have in this country before we collapse? I think we have too many people here now, and the solution is not to keep bringing in more and more people.
 
Why? I've paid into it for over 40 years maxing out my contributions in multiple years, So you need to be in poor health with a broken down body to get SS? right now I need to be 67 and 9 months to get full benefits.
Exactly. I started taking my SS benefit at 62 because there's no guarantee how long I'm going to live and what the quality of those last years is going to be. But that of course is everyone's individual decision to make.
 
We are the fattest country in the world. Our diets are terrible and we flat lined in life expectancy the last couple of years. We are not in great shape and this goes double for our senior citizens. Very few are gifted with the ability to abuse their bodies and still be in great shape once they get older. Living longer does not mean living better.
So true. I watched my Dad go straight downhill after he hit 60. Bad habits, lots of stress, no exercise, not good.
 
Exactly. I started taking my SS benefit at 62 because there's no guarantee how long I'm going to live and what the quality of those last years is going to be. But that of course is everyone's individual decision to make.

Unless you really love working it makes sense to retire early for the reason you stated. More than that is once on SS you can still work. The combination of collecting SS and working puts a lot of people in the same or nearly the same income bracket they were in working full-time. In the meantime if you have an IRA, you can keep it there without touching it and use it when you can no longer work part-time.
 
Unless you really love working it makes sense to retire early for the reason you stated. More than that is once on SS you can still work. The combination of collecting SS and working puts a lot of people in the same or nearly the same income bracket they were in working full-time. In the meantime if you have an IRA, you can keep it there without touching it and use it when you can no longer work part-time.
Absolutely. They do reduce SS benefits depending on how much you earn, should you decide to still do compensated work. But like I said, everyone's situation is different. It is wise to not just buy into the "Full benefits" carrot that the SSA dangles to get you wait until age 67. That might be great if you live to be 90 with good health. Most people won't.
 
The average 65 year old today is in far better health than the 65 year old of 1930.

In fact, it was harder to find a 65 year old in 1930. Most people never reached that age.

So this business about infirmity is horseshit.

trump-muscular.jpg
They were the real people who helped to build America. The wear and tear on their bodies was tremendous.
 
Should they move my retirement age? Hell NO!
Been working all my life. Never collected welfare, Never took unemployment….fuck them…it’s my money, and my time (in 6 years) to retire….
Exactly right.
SS has worked well for 70-years, and only needs a slight "fix" to keep it solvent over the long term.
 
And?

this is immaterial to SS. It matters not why we have more that can pull from the program but just that such is the case.

Sure, lifespan has mostly increased because we have stopped death from coming early but that is a topic for the health forum.

Actually very pertinent to the thread about SS.

As G5000 pointed out (I'm assuming his numbers are correct in good faith), in the 1930's 5.4 percent of the population was SS eligible. Now its - IIRC - about 17%. As a percentage of the population more people are living to SS age, therefore more people are drawing from it. If SS revenues were the same today, but the percentage of population was was 12% less, then SS funding would be just fine.

WW
 
Funny thing about those who advocate for imposing new restrictions on Americans accessing SS. They don’t seem to ever consider reducing the size of the war and spy budgets.
 
Funny thing about those who advocate for imposing new restrictions on Americans accessing SS. They don’t seem to ever consider reducing the size of the war and spy budgets.
So growing flowers will make the country safe from Chinese invasion?
 
Unless you really love working it makes sense to retire early for the reason you stated. More than that is once on SS you can still work. The combination of collecting SS and working puts a lot of people in the same or nearly the same income bracket they were in working full-time. In the meantime if you have an IRA, you can keep it there without touching it and use it when you can no longer work part-time.

[PUBLIC SERVICE ANNOUNCEMENT]

What Ray says is very true. Full stop.

However anyone considering retiring and still working - to some degree - needs to evaluate how working impacts SS payments if they retire before reaching Full Retirement Age (FRA) which for those born after 1960 is 67 years of age. If you take SS early, then SS benefits are reduced by $1 for each $2 over an annual limit ($19,560 for CY 2022). Once you reach FRA, there is no earning limit. There are special factors that apply during the year you reach FRA so check those out.

If you take early SS the benefit reduction is temporary and the benefit is recalculated to exclude earnings once you reach FRA, for some - I assume on the lower to mid income scale - working while drawing SS can actually increase the amount of the recalculated benefit at FRA since FICA taxes would still have been paid, causing a slight increase in the FRA SS benefit.

Its a little complicated, so check with a financial expert for assistance before making such a decision.

[/PUPBLIC SERVICE ANNOUNCEMENT]

WW

EDIT: Just ran my numbers, if I stay in my current job full-time and draw early, my SS check would be $0. And yes I know Ray was talking about retiring from your full-time job and working part time. which changes things. ROFL.
 
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Personally...
The issues with Social Security and Medicare is that the benefits are not reflective of how long you have paid into the systems. 40 calendar quarters is just ten years...not enough except in the eyes of the government. But should someone who has paid in the bare minimum amount of time receive the same benefits as someone who has paid in 35-45-55 years consistently?

And there's the problem. To our government, they are going to get the identical benefits. That includes those who end up physically disabled (knee joints, back issues, and other issues from working) but currently early disability doesn't pay more or less than early retirement. Which is just a scam... the contracts of one generation are erased by the next. We Americans were promised to have a social security income for retirement at 55-65. Now it's at 72...now it's being moved even further out to 92?

Why not just say we want the super high taxes and an early grave for the elderly.
 
But should someone who has paid in the bare minimum amount of time receive the same benefits as someone who has paid in 35-45-55 years consistently?

And there's the problem. To our government, they are going to get the identical benefits.
Not true

You need 10 years of payments to qualify but your benefit is based on your last 30 year average contribution
If you only worked 10 years, you get 20 years of zero’s for that contribution
 

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