Raising retirement to 70 yrs..

[G.T.]

It might have something to do with people in their 60s and even 50s being all but unemployable. Since it is so difficult for older people to get and keep jobs how is raising the eligibility age not cheating them out of something they worked for?

What???!! I'm 62 and work 2 jobs and intend to probably until I'm 70. Husband too. My God, the congressmen work into their 90s. My sister is a "grandma" to 6 kids and is 60 and still works. You're talking about the "old old" --- not the "young old" - when we went to brunch on Easter I had to show my ID to PROVE I was 62! People are NOT "unemployable" in their 50s and 60s. My friend is 72 and she's still working full time. Lots of us are. Mainly because we want to keep busy and productive. I have no desire to knit or play shuffleboard.

Why would you knit and play shuffleboard then, if you retired?

I swear, the people who say they'd be "bored" if retired have no fuggin imagination whatsoever, no offense.

 

[UpAndAbout]

Actually the one group of people seeing their life expectancy increase has been the rich. So if you really wanted to increase life expectancy you would do it primary and only on rich people if not then you are just transferring income/wealth from poor seniors to rich seniors

Trends in Mortality Differentials and Life Expectancy for Male Social Security–Covered Workers, by Average Relative Earnings
^Life expectancy for people in the poorest half of earners has risen by 1 year in the past 30 years, while life expectancy for people in the richest half has increased by 7 years.
^It is illogical to raise the poor’s retirement age just because the rich are experiencing an increase in their life expectancy.

That data could be missleading.
I have found that the poorer a person is - the greater the chance that they smoke. The also eat poorly...incredibly poorly.
There are many factors besides money that deter long life.

"Rich" people usually have more stress, which I know I would, what with working 20 hours days, etc. Illnesses such as cancer, ALS, MS, etc. happen to rich and poor alike. Look at Ted Kennedy with his brain cancer. All the money in the world couldn't fix him. Even "rich" people eat poorly. People are more active and young thinking nowadays well until their 80s even. Hell, my mother in law dated a man 26 years her junior until the day she died at 87.

 

[Katzndogz]

Actually the one group of people seeing their life expectancy increase has been the rich. So if you really wanted to increase life expectancy you would do it primary and only on rich people if not then you are just transferring income/wealth from poor seniors to rich seniors

Trends in Mortality Differentials and Life Expectancy for Male Social Security–Covered Workers, by Average Relative Earnings
^Life expectancy for people in the poorest half of earners has risen by 1 year in the past 30 years, while life expectancy for people in the richest half has increased by 7 years.
^It is illogical to raise the poor’s retirement age just because the rich are experiencing an increase in their life expectancy.

Rich people seldom retire at all. Most of them keep running companies and taking care of business their entire lives.

 

[UpAndAbout]

It might have something to do with people in their 60s and even 50s being all but unemployable. Since it is so difficult for older people to get and keep jobs how is raising the eligibility age not cheating them out of something they worked for?

What???!! I'm 62 and work 2 jobs and intend to probably until I'm 70. Husband too. My God, the congressmen work into their 90s. My sister is a "grandma" to 6 kids and is 60 and still works. You're talking about the "old old" --- not the "young old" - when we went to brunch on Easter I had to show my ID to PROVE I was 62! People are NOT "unemployable" in their 50s and 60s. My friend is 72 and she's still working full time. Lots of us are. Mainly because we want to keep busy and productive. I have no desire to knit or play shuffleboard.

Why would you knit and play shuffleboard then, if you retired?

I swear, the people who say they'd be "bored" if retired have no fuggin imagination whatsoever, no offense.

WHAT???? Working is what I enjoy. I will cut back eventually, but still work part time or on call. Then when or if I fully retire, I want to stay active. Knitting is not staying active. That's what you do when you CAN'T be active. Shuffleboard is boring. I'm into bicycling, swimming, dancing, etc. I like a balanced life. you can only relax for so long.

 

[G.T.]

What???!! I'm 62 and work 2 jobs and intend to probably until I'm 70. Husband too. My God, the congressmen work into their 90s. My sister is a "grandma" to 6 kids and is 60 and still works. You're talking about the "old old" --- not the "young old" - when we went to brunch on Easter I had to show my ID to PROVE I was 62! People are NOT "unemployable" in their 50s and 60s. My friend is 72 and she's still working full time. Lots of us are. Mainly because we want to keep busy and productive. I have no desire to knit or play shuffleboard.

Why would you knit and play shuffleboard then, if you retired?

I swear, the people who say they'd be "bored" if retired have no fuggin imagination whatsoever, no offense.

WHAT???? Working is what I enjoy. I will cut back eventually, but still work part time or on call. Then when or if I fully retire, I want to stay active. Knitting is not staying active. That's what you do when you CAN'T be active. Shuffleboard is boring. I'm into bicycling, swimming, dancing, etc. I like a balanced life. you can only relax for so long.

So you enjoy career as OPPOSED to bicycling, sports, travelling, landscaping you own crib (or family's), home improvement projects, etc?

not me.

I'll retire as early as I can and be bored never.

 

[Full-Auto]

Moving it over to private investments is how you risk their social security.

All you need for proof is this past stock market crash.

If it went into private investments


There would be money in the accounts, You cant say that about the current system.

In fact we had to threaten to withhold checks if we couldnt borrow more.

Yes the crash would have lowered values, but looking further the damn government is who started that ball rolling.

Are you afraid to invest ten percent? To have an actual account where you have some say so.

I would never bet my life on the scam assed stock market

Imagine the worst you could do is............Exactly what you have now. NOTHING......

 

[starcraftzzz]

http://tcf.org/media-center/pdfs/pr46/12badideas.pdf
^Privatized SS in Chile and UK resulted in administration cost increasing by 13-20 times.

You’re in good hands with Social Security: But Privatization Proposals Would Unravel Its Ability to Insure Against Loss of Income, Disability, and Death | Economic Policy Institute
^SS keeps 39% of the elderly out of poverty
^SS returns are 26% higher than private alternatives

Social security is 26% more efficient then the private market

 

[G.T.]

If it went into private investments


There would be money in the accounts, You cant say that about the current system.

In fact we had to threaten to withhold checks if we couldnt borrow more.

Yes the crash would have lowered values, but looking further the damn government is who started that ball rolling.

Are you afraid to invest ten percent? To have an actual account where you have some say so.

I would never bet my life on the scam assed stock market

Imagine the worst you could do is............Exactly what you have now. NOTHING......

Yes, everyone on ss is getting paid though. I'll go with that versus what happened in '08

 

[UpAndAbout]

Actually the one group of people seeing their life expectancy increase has been the rich. So if you really wanted to increase life expectancy you would do it primary and only on rich people if not then you are just transferring income/wealth from poor seniors to rich seniors

Trends in Mortality Differentials and Life Expectancy for Male Social Security–Covered Workers, by Average Relative Earnings
^Life expectancy for people in the poorest half of earners has risen by 1 year in the past 30 years, while life expectancy for people in the richest half has increased by 7 years.
^It is illogical to raise the poor’s retirement age just because the rich are experiencing an increase in their life expectancy.

Rich people seldom retire at all. Most of them keep running companies and taking care of business their entire lives.

Yep, that's why they're rich.

 

[UpAndAbout]

http://tcf.org/media-center/pdfs/pr46/12badideas.pdf
^Privatized SS in Chile and UK resulted in administration cost increasing by 13-20 times.

You’re in good hands with Social Security: But Privatization Proposals Would Unravel Its Ability to Insure Against Loss of Income, Disability, and Death | Economic Policy Institute
^SS keeps 39% of the elderly out of poverty
^SS returns are 26% higher than private alternatives

Social security is 26% more efficient then the private market

Just who are these "elderly" you are talking about? Poor old Warren Buffett? Hell, most "elderly" nowadays have money and are either traveling about in their bus-sized motorhomes, or going south for the winter and north in the summer or something. if you are in "poverty" and elderly, likely you were in poverty when you were young, too. Not graduating from high school will do that to ya. SS might keep them out of poverty, but not TOO far out! I don't look to get rich on mine, that's for damn sure.

 

[KevinWestern]

Actually the one group of people seeing their life expectancy increase has been the rich. So if you really wanted to increase life expectancy you would do it primary and only on rich people if not then you are just transferring income/wealth from poor seniors to rich seniors

Trends in Mortality Differentials and Life Expectancy for Male Social Security–Covered Workers, by Average Relative Earnings
^Life expectancy for people in the poorest half of earners has risen by 1 year in the past 30 years, while life expectancy for people in the richest half has increased by 7 years.
^It is illogical to raise the poor’s retirement age just because the rich are experiencing an increase in their life expectancy.

That data could be missleading.
I have found that the poorer a person is - the greater the chance that they smoke. The also eat poorly...incredibly poorly.
There are many factors besides money that deter long life.

"Rich" people usually have more stress, which I know I would, what with working 20 hours days, etc. Illnesses such as cancer, ALS, MS, etc. happen to rich and poor alike. Look at Ted Kennedy with his brain cancer. All the money in the world couldn't fix him. Even "rich" people eat poorly. People are more active and young thinking nowadays well until their 80s even. Hell, my mother in law dated a man 26 years her junior until the day she died at 87.

If you make a concerted effort to eat healthy, I think you will find yourself spending more money on food. Organic, healthy, & naturally grown food is more expensive (just check out some of the Whole Foods prices), while cheap processed and canned food is generally less inexpensive.

Not all rich people eat healthy, but the point is if you want to eat healthy be prepared to dish out more money at the grocery store – a luxury that poor people often do not have – especially when there's kids involved and multiple mouths to feed.

Also, yes, maybe the entrepreneurial CEO might have a very stressful and hectic life, but when we generally talk about rich people we must also consider the folks who make maybe $150k+ a year. A lot of those jobs are desk jobs, and after being with a company for years some of these slots can get rather “easy” and relaxed. This is especially true when you compare that to having to dig ditches for 8 hours every day, or having to do some of the heavy manual labor that comes with a lot of the lower skilled positions.
.
.
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[Leweman]

That data could be missleading.
I have found that the poorer a person is - the greater the chance that they smoke. The also eat poorly...incredibly poorly.
There are many factors besides money that deter long life.

"Rich" people usually have more stress, which I know I would, what with working 20 hours days, etc. Illnesses such as cancer, ALS, MS, etc. happen to rich and poor alike. Look at Ted Kennedy with his brain cancer. All the money in the world couldn't fix him. Even "rich" people eat poorly. People are more active and young thinking nowadays well until their 80s even. Hell, my mother in law dated a man 26 years her junior until the day she died at 87.

If you make a concerted effort to eat healthy, I think you will find yourself spending more money on food. Organic, healthy, & naturally grown food is more expensive (just check out some of the Whole Foods prices), while cheap processed and canned food is generally less inexpensive.

Not all rich people eat healthy, but the point is if you want to eat healthy be prepared to dish out more money at the grocery store – a luxury that poor people often do not have – especially when there's kids involved and multiple mouths to feed.

Also, yes, maybe the entrepreneurial CEO might have a very stressful and hectic life, but when we generally talk about rich people we must also consider the folks who make maybe $150k+ a year. A lot of those jobs are desk jobs, and after being with a company for years some of these slots can get rather “easy” and relaxed. This is especially true when you compare that to having to dig ditches for 8 hours every day, or having to do some of the heavy manual labor that comes with a lot of the lower skilled positions.
.
.
.

Digging ditches is hard? It's mindless nothing work. I could do that for the rest of my life no problem. I choose not to.

 

[UpAndAbout]

That data could be missleading.
I have found that the poorer a person is - the greater the chance that they smoke. The also eat poorly...incredibly poorly.
There are many factors besides money that deter long life.

"Rich" people usually have more stress, which I know I would, what with working 20 hours days, etc. Illnesses such as cancer, ALS, MS, etc. happen to rich and poor alike. Look at Ted Kennedy with his brain cancer. All the money in the world couldn't fix him. Even "rich" people eat poorly. People are more active and young thinking nowadays well until their 80s even. Hell, my mother in law dated a man 26 years her junior until the day she died at 87.

If you make a concerted effort to eat healthy, I think you will find yourself spending more money on food. Organic, healthy, & naturally grown food is more expensive (just check out some of the Whole Foods prices), while cheap processed and canned food is generally less inexpensive.

Not all rich people eat healthy, but the point is if you want to eat healthy be prepared to dish out more money at the grocery store – a luxury that poor people often do not have – especially when there's kids involved and multiple mouths to feed.

Also, yes, maybe the entrepreneurial CEO might have a very stressful and hectic life, but when we generally talk about rich people we must also consider the folks who make maybe $150k+ a year. A lot of those jobs are desk jobs, and after being with a company for years some of these slots can get rather “easy” and relaxed. This is especially true when you compare that to having to dig ditches for 8 hours every day, or having to do some of the heavy manual labor that comes with a lot of the lower skilled positions.
.
.
.

Well you know what? Having a garden is not that hard. You can grow your own vegetables. You can grow them in a small space. Some communities have areas where people can reserve a spot for their garden. I avoid "organic" anything. I usually grow my own tomatoes with one of those "upsidedown' things, strawberries, apples, corn and I think this year we will do lettuce, zucchini, carrots. We shop at the farmers' markets. Buy in bulk from Costco saves money believe it or not. Learn to cook from scratch. If I suddenly was rendered moneyless we would be eating lots of greens, beans, and rice. Learn to bake your own bread, which is much cheaper than buying bread. But cooking from scratch is by far cheaper and healthier than processed foods. MY job is NOT "relaxed" -- I have to be up and at it all day long. I think they are watching me, but whatever. A nurse in a hospital is certainly not "lower skilled" and they are on their feet all day and encounter all many of things which I do not want to encounter. A job that is mentally taxing can be just as tiresome as one that is physically taxing.

 

[KevinWestern]

"Rich" people usually have more stress, which I know I would, what with working 20 hours days, etc. Illnesses such as cancer, ALS, MS, etc. happen to rich and poor alike. Look at Ted Kennedy with his brain cancer. All the money in the world couldn't fix him. Even "rich" people eat poorly. People are more active and young thinking nowadays well until their 80s even. Hell, my mother in law dated a man 26 years her junior until the day she died at 87.

If you make a concerted effort to eat healthy, I think you will find yourself spending more money on food. Organic, healthy, & naturally grown food is more expensive (just check out some of the Whole Foods prices), while cheap processed and canned food is generally less inexpensive.

Not all rich people eat healthy, but the point is if you want to eat healthy be prepared to dish out more money at the grocery store – a luxury that poor people often do not have – especially when there's kids involved and multiple mouths to feed.

Also, yes, maybe the entrepreneurial CEO might have a very stressful and hectic life, but when we generally talk about rich people we must also consider the folks who make maybe $150k+ a year. A lot of those jobs are desk jobs, and after being with a company for years some of these slots can get rather “easy” and relaxed. This is especially true when you compare that to having to dig ditches for 8 hours every day, or having to do some of the heavy manual labor that comes with a lot of the lower skilled positions.
.
.
.

Digging ditches is hard? It's mindless nothing work. I could do that for the rest of my life no problem. I choose not to.

Digging ditches 8 hours a day isn't hard? With all due respect, that sounds like a pretty ignorant comment to me. Also, not everyone has an “easy choice” as to what they want to be doing for a job. Sometimes people lose their jobs and are forced to take a different one which is less than ideal to make ends meet. Sometimes people don’t have the skills or the specific types of talent needed to excel in an office environment.

 

[Katzndogz]

Warren Buffet was born in 1930 and is still working. Donald Trump is 65 and not slowing down.

 

[Old Rocks]

I'm thirty and have paid FICA taxes since I was 16, no way in hell I will see SS when I retire. If I do it will be extra and have nothing to do with my choice of when to retire.

When I was 30, I heard that same bullshit. Guess what. I am 68 now, still working as a millwright in a steel mill, and also pulling in SS.

So you state. And if you make good investment choices, and don't experiance a market crash about the time you retire, or don't have a debilitating sickness that eats up all your savings, you might be able to do that. Then again, you may end up with only SS between you are starvation.

 

[KevinWestern]

"Rich" people usually have more stress, which I know I would, what with working 20 hours days, etc. Illnesses such as cancer, ALS, MS, etc. happen to rich and poor alike. Look at Ted Kennedy with his brain cancer. All the money in the world couldn't fix him. Even "rich" people eat poorly. People are more active and young thinking nowadays well until their 80s even. Hell, my mother in law dated a man 26 years her junior until the day she died at 87.

If you make a concerted effort to eat healthy, I think you will find yourself spending more money on food. Organic, healthy, & naturally grown food is more expensive (just check out some of the Whole Foods prices), while cheap processed and canned food is generally less inexpensive.

Not all rich people eat healthy, but the point is if you want to eat healthy be prepared to dish out more money at the grocery store – a luxury that poor people often do not have – especially when there's kids involved and multiple mouths to feed.

Also, yes, maybe the entrepreneurial CEO might have a very stressful and hectic life, but when we generally talk about rich people we must also consider the folks who make maybe $150k+ a year. A lot of those jobs are desk jobs, and after being with a company for years some of these slots can get rather “easy” and relaxed. This is especially true when you compare that to having to dig ditches for 8 hours every day, or having to do some of the heavy manual labor that comes with a lot of the lower skilled positions.
.
.
.

Well you know what? Having a garden is not that hard. You can grow your own vegetables. You can grow them in a small space. Some communities have areas where people can reserve a spot for their garden. I avoid "organic" anything. I usually grow my own tomatoes with one of those "upsidedown' things, strawberries, apples, corn and I think this year we will do lettuce, zucchini, carrots. We shop at the farmers' markets. Buy in bulk from Costco saves money believe it or not. Learn to cook from scratch. If I suddenly was rendered moneyless we would be eating lots of greens, beans, and rice. Learn to bake your own bread, which is much cheaper than buying bread. But cooking from scratch is by far cheaper and healthier than processed foods. MY job is NOT "relaxed" -- I have to be up and at it all day long. I think they are watching me, but whatever. A nurse in a hospital is certainly not "lower skilled" and they are on their feet all day and encounter all many of things which I do not want to encounter. A job that is mentally taxing can be just as tiresome as one that is physically taxing.

UpAndAbout – I denfinitely agree that not all office jobs are “relaxed” and easy, by any stretch of the imagination. But I just tend to think that my work (finance analytics) at an office desk, earning a salary, when I can come and go as I please makes for a much easier life than as I mention digging ditches in the cold or having to work at a monotonous factory job 8 hours a day. Just my take.

Also yes, people can grow gardens. But firstly, not everyone has the space for a garden big enough that can sustain an entire family (especially if you live in an urban area). And secondly, not everyone has the time to tend meticulously to a garden that is to serve as your primary source of food. Some people have to work 2 jobs to make ends meet; mix that up with raising kids, and maintaining a primary food source garden simply becomes an unrealistic goal for most. Achievable, sure, but time consuming yes (and time generally = money).

Let’s put it this way, it’s a lot easier to eat healthy if you’ve got the money and the time to either pay for good food (I shop at the farmers market too in my city, and the prices are generally more expensive than at the grocery story), or tend to your own garden. Poor people generally lack on both of those fronts, and therefore generally eat less healthy.

 

[francoHFW]

Oh ferchrissake, no sacrifice for the non rich is too great...unbelievable tools of the greedy rich,,,

 

[Old Rocks]

Warren Buffet was born in 1930 and is still working. Donald Trump is 65 and not slowing down.

I only know one other millwright that is my age and still working. All too many of my peers have died of cancers related to exposure to asbestos and other toxins. All too many have back injuries that allow them to do very little. And before you mention it, over 1/3 of those applying for full disability die before recieving even one payment. Riding a desk, and doing a job that requieres hard physical effort are too very differant things. But none of you seem to take that into account.

 

[francoHFW]

AARP's #1 MYTH is that SS is going broke. Don't be a fool.