Lol… How do you expect to pay for that?
If you want people to retire early to open up jobs for younger people, they need to make retirement accounts better and fix health care. There are people that want to retire but can’t afford $1,200 bucks a month for a crappy health insurance plan.
I forgot about those. That benefit was part of the original program, but it has changed over the years.
Through increased wages. Part of the problem is the older generation wants to work but won’t retire. It is making it harder for younger workers to gain the skills to increase wages.
I wouldn’t mind a national pension plan. I think that would be a more intelligent design then what we have now.
NO WAY!!! Look how fucked up social security is. We have a way to save for retirement with 401K’s, IRA’s, brokerage accounts and other investments. With 40 years of contributions anyone can reach 7 figures and have a comfortable retirement.
From the Google machine…
The monthly savings required to reach $1,000,000 by age 65 depends heavily on your starting age and the annual rate of return you can achieve. For example, a 25-year-old saving around $381 per month (with a 7% annual return) could reach this goal, while a 40-year-old would need to save approximately $1,234 per month (with the same return). The younger you are, the less you need to save each month due to the power of compounding over a longer period.
Not speaking for winter, but I think he means in leu of SS.
It would be more expensive and more fucked up
No thanks.
My vision is RR Retirement plan. There is no issues with that.
The big problem would be how to convert what we have now to that.
Bigger than the problem of it currently being broke?
Yes, where would the money come from?
My neighbor retired last year with a railroad pension, it’s almost $8,000 a month.
Correct. Social security is a band aid. Make a real program and I’d back it.
Yes.
From the contributions that are currently being paid.
Temporarily maybe, but it would be a permanent fix.
We’re just spit balling but to match the RR pension it would take a whole lot more money than social security is costing.
Bullshit it’s bullshit. Everybody has a different idea that they think is some brilliant fix.
It’s NOT your money anymore. It was taxed away.
IDGAF how it gets fixed. Whatever the fix is, it will never make anyone happy, guaran fucking teed.
But don’t act like your preferred solution is some superior idea. It isn’t. It’s one potential option amid a plethora of possibilities.
This program never should have been started and it should be eliminated. I know that will not happen, so I’ll leave you all to fight over the details that you have no control over.
Nothing is clear going forward. The government is not an insurance company and never should have been treated as one.
But people talking about “getting their money back” is the fallacious thinking of ignorant dummies. That isn’t how taxation works and never has been.
But my idea has decades of data behind it.
I understand that, which is why I want fundamental change, not bullshit “fixes” that have already failed .
Long term data disagrees
They all sound scary because they tell you that you have to need a gazillion dollars when you retire and then moving forward you must never touch the principle. But wasn’t the reason you saved the money (principle)so that you would use it in retirement?
As Jim has pointed out those that have will enjoy aunt IRMAA and SS taxation.