Should the Social Security and Medicare Age be Raised

[BlackSand]

I am talking about your screwed up alignment, dumbass! You post meaningless drivel in a format that is harder to read. Is that a self-defense tactic?

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My bad ... I should have assumed you were talking about something completely irrelevant to the topic.

Sorry if you find it difficult, and I don't to shed light on what and how other people think ...
Like you think it could be a defensive mechanism ... Did that thought come from my head or yours?

What were you trying to accomplish with that thought and why?

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[ThisIsMe]

I said nothing about the cap on SS.

I said we need to raise the eligibility age to 70 and index it to 9 percent of the population going forward.

We are living longer, we should be working longer. Simple common sense.

I get it, but I don't think it's that easy. Just because we are living longer doesn't mean the quality of life is good.

Again, if you are someone who sat behind a desk all your life, went to the gym regularly, worked 40 hours a week and made great money, yeah, life at 70 might be good, but if you spent a life behind the wheel of a truck, or working in a mine, or doing many other physically strenuous jobs, for 80 hours a week, you may not have a good quality of life at 70.

 

[Ray From Cleveland]

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.

I was forced to go on disability but I looked into retiring at 62 anyway. At 62 you get 75% of what your full retirement amount would be. At 63 you get 80% At 64 you get 85% and so on.

Because I'm on disability they gave me 100% of what I would collect on SS if I turned 67 when I was approved, so I made out that way. But running the numbers while working PT you make out better in the long run, as long as you are doing a job you can do until the age you become ill. The twist to that is medical care if you have an employer sponsored plan. Even if you retire early you have to wait until 65 for Medicare.

If that's the case, you continue working until 65 so you still have coverage and of course then you go from your private plan to the government plan.

I put myself in the position to retire early but my sister put herself in a position where she has to get full SS in order to retire. She complains about working all the time as her company works her to death. And what if she doesn't make it to retirement age? She's going to be tortured until the day she dies.

I have less than she does but I'm able to enjoy the last few years of my life not working. I'm too ill to get a part-time job now but my rental income supplements me enough to live comfortably. So I guess it's all in how you plan your life out.

 

[Lesh]

[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.

HUH?

Basically and in simple terms...You get full Benefits at 67. Every year earlier you lose approx 10% and you get that rate forever.

If you hold out past 67 the rate increases by approx that amount

 

[Admiral Rockwell Tory]

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My bad ... I should have assumed you were talking about something completely irrelevant to the topic.

Sorry if you find it difficult, and I don't to shed light on what and how other people think ...
Like you think it could be a defensive mechanism ... Did that thought come from my head or yours?

What were you trying to accomplish with that thought and why?

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You are simply a perfect asshole. No Preparation H for you!

I will ignore any future posts that improperly formatted. I don't need to waste my time with morons like you!

 

[Lesh]

And Medicare is deducted from whatever amount you get. If you retire prior to 65...you have to get insurance on your own and that really takes a bite out of your check...more than half in my wife's case

 

[BlackSand]

You are simply a perfect asshole. No Preparation H for you!

I will ignore any future posts that improperly formatted. I don't need to waste my time with morons like you!

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You see ... All that is coming from your head, not mine.
Sorry if you are so pathetically insecure that you think it could somehow make someone think they are superior or perfect.

That's the way to hit the nail on the head ...

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[Admiral Rockwell Tory]

HUH?

Basically and in simple terms...You get full Benefits at 67. Every year earlier you lose approx 10% and you get that rate forever.

If you hold out past 67 the rate increases by approx that amount

My SS statement says I lose 34% by retiring at 62 vice 67.

My life expectancy is not that great, so I will likely retire early.

 

[Admiral Rockwell Tory]

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You see ... All that is coming from your head, not mine.
Sorry if you are so pathetically insecure that you think it could somehow make someone think they are superior or perfect.

That's the way to hit the nail on the head ...

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Your post makes no sense. That's pretty usual for you. When did they throw you out of middle school as a functionally illiterate 18-year-old?

 

[BlackSand]

Your post makes no sense. That's pretty usual for you. When did they throw you out of middle school as a functionally illiterate 18-year-old?

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That's not really helping your case ... But okay ...

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[Blues Man]

People should be more worried about saving their money so they can retire any time that want.

 

[Wyatt earp]

Lol. Are the Chinese invading?

DUPE ALERT.

We must keep the war profiteers flush, so we make up threats to make it happen.

No Einstein could it be just because of our defense budget?

 

[Lesh]

People should be more worried about saving their money so they can retire any time that want.

You make that sound like it's easy to do.

It's not.

For a lot...it's impossible

 

[j-mac]

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

So, how does that address those who have paid in all their lived with the promise, now possibly having that promise broken?...Guess abortion as contraceptive wasn't a great idea.

 

[Blues Man]

You make that sound like it's easy to do.

It's not.

For a lot...it's impossible

No it's not.

Save 10 cents on the dollar or more if you can of your salary for your entire life invest in a balanced portfolio.

Don't buy shit you don't need

Live below your means.

That's how I retired at 51

 

[gipper]

No Einstein could it be just because of our defense budget?

We have a war budget higher than the next ten nations combined. Our war budget is nearly ten times greater than China’s. That’s if you believe our lying government’s proclaimed war budget figures, which you shouldn’t.

Hide under your bed!!! The Chinese, Russians, Cubans, and Iranians are coming.

Remember this? I’m guessing you’re clueless. Right?
The Pentagon Black Budget: $21 Trillion Dollars Gone Missing - Global Research

 

[gipper]

No Einstein could it be just because of our defense budget?

When has the war budget ever been used for defense?

lol

 

[BlackSand]

We have a war budget higher than the next ten nations combined. Our war budget is nearly ten times greater than China’s. That’s if you believe our lying government’s proclaimed war budget figures, which should be unlikely.

Hide under your bed!!! The Chinese, Russians, Cubans, and Iranians are coming.

Remember this? I’m guessing your clueless. Right?
The Pentagon Black Budget: $21 Trillion Dollars Gone Missing - Global Research

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Thus, the difference between Conservatives and Modern Conservatives.
The latter is pretty much a product of the Cold War.

It is also one of many reasons Republicans have a hard time reaching more Conservative members of minority communities.

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[Wyatt earp]

When has the war budget ever been used for defense?

lol

Not the sharpest knife in the drawer are we?

 

[rightwinger]

Not the sharpest knife in the drawer are we?

When was the last war we fought defending our country?