Retirement age at 69? Deficit plan hits Social Security.

[Middleman]

How do you feel about retirement? Inevitably the retirement age will be raised. The system just won't support people living off of SS the length of time that modern medicine has created for the elderly. Of course, the cost of that modern medicine is also high, and healthcare costs keep rising each year, but we can all pay for that.

Of course, many will be unable to work because of chronic health problems. I guess all the healthy people can just work harder to pay for the SS disability checks for the unhealthy. I wonder if unemployment will go up because the old folks will need to work until they're 69?

Retirement age at 69? Deficit plan hits Social Security. - CSMonitor.com

The proposals from Simpson and Bowles would be phased in over time; here are the three most important cuts to benefits:

1. Benefits formula: Simpson and Bowles recommend some highly technical changes to the formula used to determine benefits. This is the biggest single change, reducing the Social Security Trust Fund (SSTF) long-term shortfall by 45 percent. These changes would affect the way Social Security averages workers' lifetime earnings to determine benefits.

2. Boost the retirement age. The full benefits retirement age would rise to 68 by 2050, and 69 by 2075. Reform advocates and actuaries argue that we'll all need to work longer due to rising longevity rates. But it's important to understand that boosting Social Security's full retirement age is a lifetime benefit cut for everyone, no matter when you retire. Earlier this year, advocates at Social Security Works calculated that raising the full retirement age to 70 from 67 would reduce lifetime benefits by 19 percent for a worker entitled to a monthly payment of $1,000.

Working longer is a key strategy for improving retirement security – for knowledge workers and professionals best positioned to pull it off. It doesn't work well for workers who do physically demanding low income jobs. Simpson and Bowles are recommending a "hardship exception" for certain occupations where working longer isn't an option, but the devil will be in the details. Ask anyone who has struggled to qualify for Social Security disability payments – the process is long and complicated

 

[Douger]

Mpyre

 

[shintao]

How do you feel about retirement? Inevitably the retirement age will be raised. The system just won't support people living off of SS the length of time that modern medicine has created for the elderly. Of course, the cost of that modern medicine is also high, and healthcare costs keep rising each year, but we can all pay for that.

Of course, many will be unable to work because of chronic health problems. I guess all the healthy people can just work harder to pay for the SS disability checks for the unhealthy. I wonder if unemployment will go up because the old folks will need to work until they're 69?

Retirement age at 69? Deficit plan hits Social Security. - CSMonitor.com

The proposals from Simpson and Bowles would be phased in over time; here are the three most important cuts to benefits:

1. Benefits formula: Simpson and Bowles recommend some highly technical changes to the formula used to determine benefits. This is the biggest single change, reducing the Social Security Trust Fund (SSTF) long-term shortfall by 45 percent. These changes would affect the way Social Security averages workers' lifetime earnings to determine benefits.

2. Boost the retirement age. The full benefits retirement age would rise to 68 by 2050, and 69 by 2075. Reform advocates and actuaries argue that we'll all need to work longer due to rising longevity rates. But it's important to understand that boosting Social Security's full retirement age is a lifetime benefit cut for everyone, no matter when you retire. Earlier this year, advocates at Social Security Works calculated that raising the full retirement age to 70 from 67 would reduce lifetime benefits by 19 percent for a worker entitled to a monthly payment of $1,000.

Working longer is a key strategy for improving retirement security – for knowledge workers and professionals best positioned to pull it off. It doesn't work well for workers who do physically demanding low income jobs. Simpson and Bowles are recommending a "hardship exception" for certain occupations where working longer isn't an option, but the devil will be in the details. Ask anyone who has struggled to qualify for Social Security disability payments – the process is long and complicated

Seems like there are a lot of people who paid into social security, but die, and never get to draw a dime of it. Where did their SS funds go?

CAUSES OF DEATH

 

[Avatar4321]

Ive never understood the obsession with retiring. Life is so much more fulfilling with work.

 

[DaGoose]

Ive never understood the obsession with retiring. Life is so much more fulfilling with work.

I agree with what you're saying. However, in my 50's I'm getting to the point where I can't do the swing shift (weekly rotation), jack hammering, yanking on those big valves (some are 4' across) like I used to. Eventually it's going to get to the point where I will just end up hurting myself. So I intend to retire from my current job in a few years. Instead I will find work doing something else. Hopefully along the lines of my being a trained Safety Professional. Worse case scenario I will be a security guard or truck driver somewhere.

Just because I retire from one job doesn't mean I'll stop working.

 

[midcan5]

Ive never understood the obsession with retiring. Life is so much more fulfilling with work.

Tell that to a roofer, a miner, or a laborer. There are many jobs in which working into your sixties is too hard. Even in law I think the old farts should retire and give the young people a chance. Easy jobs. easy money, and normal perverse human nature get in the way of sensible retirement rules.

Now so long as congress also gets rid of their pensions and other perks they have, I'm with them, but notice they will mostly be long dead by these deadlines and social security is not the big issue, Medicare is, but being the corporate flunkies they are congress runs from real trouble and hurts as always, the working person.



"In the political turnover in the United States in the autumn of 1994, as previously indicated, those opposing aid to the poor in its several forms won their stunning victory with the support of less than one quarter all eligible voters, fewer than half of whom had gone to the polls. The popular and media response was that those who had prevailed represented the view and voice of the public. Had there been a full turnout at the election, both the result and the reaction would have been decidedly different. The sense of social responsibility for the poor would have been greatly enhanced." John Kenneth Galbraith 'The Good Society'

 

[Dont Taz Me Bro]

How do you feel about retirement? Inevitably the retirement age will be raised. The system just won't support people living off of SS the length of time that modern medicine has created for the elderly. Of course, the cost of that modern medicine is also high, and healthcare costs keep rising each year, but we can all pay for that.

Of course, many will be unable to work because of chronic health problems. I guess all the healthy people can just work harder to pay for the SS disability checks for the unhealthy. I wonder if unemployment will go up because the old folks will need to work until they're 69?

Why will people need to work until they're 69? All this means is that they won't be able to draw from SS until age 69. It doesn't mean they can't retire. Besides, people are living longer today and medical technology is always advancing. I imagine by the time I reach 69 working at that age won't be that big of a deal.

 

[Avatar4321]

Ive never understood the obsession with retiring. Life is so much more fulfilling with work.

Tell that to a roofer, a miner, or a laborer. There are many jobs in which working into your sixties is too hard. Even in law I think the old farts should retire and give the young people a chance. Easy jobs. easy money, and normal perverse human nature get in the way of sensible retirement rules.

Now so long as congress also gets rid of their pensions and other perks they have, I'm with them, but notice they will mostly be long dead by these deadlines and social security is not the big issue, Medicare is, but being the corporate flunkies they are congress runs from real trouble and hurts as always, the working person.



"In the political turnover in the United States in the autumn of 1994, as previously indicated, those opposing aid to the poor in its several forms won their stunning victory with the support of less than one quarter all eligible voters, fewer than half of whom had gone to the polls. The popular and media response was that those who had prevailed represented the view and voice of the public. Had there been a full turnout at the election, both the result and the reaction would have been decidedly different. The sense of social responsibility for the poor would have been greatly enhanced." John Kenneth Galbraith 'The Good Society'

Not surprisingly you can't think outside the box.

No one is suggesting that someone has to do the same jobs for all of their life. That's the beauty of having a Free Republic. We can do different things.

I know you seem to think these people are too stupid or weak. But I guarentee you that they are a hell of alot more resilent and smarter than you.

 

[Mr Natural]

Ive never understood the obsession with retiring. Life is so much more fulfilling with work.

Only if you're doing something you love to do.

 

[bodecea]

It was bound to happen with people living longer and us Baby Boomers and all.

 

[Lonestar_logic]

How do you feel about retirement? Inevitably the retirement age will be raised. The system just won't support people living off of SS the length of time that modern medicine has created for the elderly. Of course, the cost of that modern medicine is also high, and healthcare costs keep rising each year, but we can all pay for that.

Of course, many will be unable to work because of chronic health problems. I guess all the healthy people can just work harder to pay for the SS disability checks for the unhealthy. I wonder if unemployment will go up because the old folks will need to work until they're 69?

Retirement age at 69? Deficit plan hits Social Security. - CSMonitor.com

The proposals from Simpson and Bowles would be phased in over time; here are the three most important cuts to benefits:

1. Benefits formula: Simpson and Bowles recommend some highly technical changes to the formula used to determine benefits. This is the biggest single change, reducing the Social Security Trust Fund (SSTF) long-term shortfall by 45 percent. These changes would affect the way Social Security averages workers' lifetime earnings to determine benefits.

2. Boost the retirement age. The full benefits retirement age would rise to 68 by 2050, and 69 by 2075. Reform advocates and actuaries argue that we'll all need to work longer due to rising longevity rates. But it's important to understand that boosting Social Security's full retirement age is a lifetime benefit cut for everyone, no matter when you retire. Earlier this year, advocates at Social Security Works calculated that raising the full retirement age to 70 from 67 would reduce lifetime benefits by 19 percent for a worker entitled to a monthly payment of $1,000.

Working longer is a key strategy for improving retirement security – for knowledge workers and professionals best positioned to pull it off. It doesn't work well for workers who do physically demanding low income jobs. Simpson and Bowles are recommending a "hardship exception" for certain occupations where working longer isn't an option, but the devil will be in the details. Ask anyone who has struggled to qualify for Social Security disability payments – the process is long and complicated

When I retire I will refuse social security.

 

[iggy pop]

How do you feel about retirement? Inevitably the retirement age will be raised. The system just won't support people living off of SS the length of time that modern medicine has created for the elderly. Of course, the cost of that modern medicine is also high, and healthcare costs keep rising each year, but we can all pay for that.

Of course, many will be unable to work because of chronic health problems. I guess all the healthy people can just work harder to pay for the SS disability checks for the unhealthy. I wonder if unemployment will go up because the old folks will need to work until they're 69?

Retirement age at 69? Deficit plan hits Social Security. - CSMonitor.com

The proposals from Simpson and Bowles would be phased in over time; here are the three most important cuts to benefits:

1. Benefits formula: Simpson and Bowles recommend some highly technical changes to the formula used to determine benefits. This is the biggest single change, reducing the Social Security Trust Fund (SSTF) long-term shortfall by 45 percent. These changes would affect the way Social Security averages workers' lifetime earnings to determine benefits.

2. Boost the retirement age. The full benefits retirement age would rise to 68 by 2050, and 69 by 2075. Reform advocates and actuaries argue that we'll all need to work longer due to rising longevity rates. But it's important to understand that boosting Social Security's full retirement age is a lifetime benefit cut for everyone, no matter when you retire. Earlier this year, advocates at Social Security Works calculated that raising the full retirement age to 70 from 67 would reduce lifetime benefits by 19 percent for a worker entitled to a monthly payment of $1,000.

Working longer is a key strategy for improving retirement security – for knowledge workers and professionals best positioned to pull it off. It doesn't work well for workers who do physically demanding low income jobs. Simpson and Bowles are recommending a "hardship exception" for certain occupations where working longer isn't an option, but the devil will be in the details. Ask anyone who has struggled to qualify for Social Security disability payments – the process is long and complicated

What a total joke. How much nore can they bleed from the working class?

 

[bodecea]

How do you feel about retirement? Inevitably the retirement age will be raised. The system just won't support people living off of SS the length of time that modern medicine has created for the elderly. Of course, the cost of that modern medicine is also high, and healthcare costs keep rising each year, but we can all pay for that.

Of course, many will be unable to work because of chronic health problems. I guess all the healthy people can just work harder to pay for the SS disability checks for the unhealthy. I wonder if unemployment will go up because the old folks will need to work until they're 69?

Retirement age at 69? Deficit plan hits Social Security. - CSMonitor.com

The proposals from Simpson and Bowles would be phased in over time; here are the three most important cuts to benefits:

1. Benefits formula: Simpson and Bowles recommend some highly technical changes to the formula used to determine benefits. This is the biggest single change, reducing the Social Security Trust Fund (SSTF) long-term shortfall by 45 percent. These changes would affect the way Social Security averages workers' lifetime earnings to determine benefits.

2. Boost the retirement age. The full benefits retirement age would rise to 68 by 2050, and 69 by 2075. Reform advocates and actuaries argue that we'll all need to work longer due to rising longevity rates. But it's important to understand that boosting Social Security's full retirement age is a lifetime benefit cut for everyone, no matter when you retire. Earlier this year, advocates at Social Security Works calculated that raising the full retirement age to 70 from 67 would reduce lifetime benefits by 19 percent for a worker entitled to a monthly payment of $1,000.

Working longer is a key strategy for improving retirement security – for knowledge workers and professionals best positioned to pull it off. It doesn't work well for workers who do physically demanding low income jobs. Simpson and Bowles are recommending a "hardship exception" for certain occupations where working longer isn't an option, but the devil will be in the details. Ask anyone who has struggled to qualify for Social Security disability payments – the process is long and complicated

When I retire I will refuse social security.

Of course you will. <-----

 

[iggy pop]

How do you feel about retirement? Inevitably the retirement age will be raised. The system just won't support people living off of SS the length of time that modern medicine has created for the elderly. Of course, the cost of that modern medicine is also high, and healthcare costs keep rising each year, but we can all pay for that.

Of course, many will be unable to work because of chronic health problems. I guess all the healthy people can just work harder to pay for the SS disability checks for the unhealthy. I wonder if unemployment will go up because the old folks will need to work until they're 69?

Retirement age at 69? Deficit plan hits Social Security. - CSMonitor.com

The proposals from Simpson and Bowles would be phased in over time; here are the three most important cuts to benefits:

1. Benefits formula: Simpson and Bowles recommend some highly technical changes to the formula used to determine benefits. This is the biggest single change, reducing the Social Security Trust Fund (SSTF) long-term shortfall by 45 percent. These changes would affect the way Social Security averages workers' lifetime earnings to determine benefits.

2. Boost the retirement age. The full benefits retirement age would rise to 68 by 2050, and 69 by 2075. Reform advocates and actuaries argue that we'll all need to work longer due to rising longevity rates. But it's important to understand that boosting Social Security's full retirement age is a lifetime benefit cut for everyone, no matter when you retire. Earlier this year, advocates at Social Security Works calculated that raising the full retirement age to 70 from 67 would reduce lifetime benefits by 19 percent for a worker entitled to a monthly payment of $1,000.

Working longer is a key strategy for improving retirement security – for knowledge workers and professionals best positioned to pull it off. It doesn't work well for workers who do physically demanding low income jobs. Simpson and Bowles are recommending a "hardship exception" for certain occupations where working longer isn't an option, but the devil will be in the details. Ask anyone who has struggled to qualify for Social Security disability payments – the process is long and complicated

When I retire I will refuse social security.

If I could afford to, I would too.

 

[Middleman]

People are going to have to stop spending all their money, and start saving for retirement, and stop expecting the government to save their butts.

I'll tell you, I was widowed when my youngest two children were 1 and 3. My children receive social security totaling $2400 a month. That's about $27,000 a year. A $400,000 life insurance policy on our part would have accomplished the same thing. Term life insurance is very affordable.

I wonder how well I would be situated being allowed to invest the money I pay into FICA, and instead invest it in Mutual Funds? Wouldn't that also be better for the American economy?

 

[Mr Natural]

How do you feel about retirement? Inevitably the retirement age will be raised. The system just won't support people living off of SS the length of time that modern medicine has created for the elderly. Of course, the cost of that modern medicine is also high, and healthcare costs keep rising each year, but we can all pay for that.

Of course, many will be unable to work because of chronic health problems. I guess all the healthy people can just work harder to pay for the SS disability checks for the unhealthy. I wonder if unemployment will go up because the old folks will need to work until they're 69?

Retirement age at 69? Deficit plan hits Social Security. - CSMonitor.com

The proposals from Simpson and Bowles would be phased in over time; here are the three most important cuts to benefits:

1. Benefits formula: Simpson and Bowles recommend some highly technical changes to the formula used to determine benefits. This is the biggest single change, reducing the Social Security Trust Fund (SSTF) long-term shortfall by 45 percent. These changes would affect the way Social Security averages workers' lifetime earnings to determine benefits.

2. Boost the retirement age. The full benefits retirement age would rise to 68 by 2050, and 69 by 2075. Reform advocates and actuaries argue that we'll all need to work longer due to rising longevity rates. But it's important to understand that boosting Social Security's full retirement age is a lifetime benefit cut for everyone, no matter when you retire. Earlier this year, advocates at Social Security Works calculated that raising the full retirement age to 70 from 67 would reduce lifetime benefits by 19 percent for a worker entitled to a monthly payment of $1,000.

Working longer is a key strategy for improving retirement security – for knowledge workers and professionals best positioned to pull it off. It doesn't work well for workers who do physically demanding low income jobs. Simpson and Bowles are recommending a "hardship exception" for certain occupations where working longer isn't an option, but the devil will be in the details. Ask anyone who has struggled to qualify for Social Security disability payments – the process is long and complicated

When I retire I will refuse social security.

Bullshit.

 

[iggy pop]

People are going to have to stop spending all their money, and start saving for retirement, and stop expecting the government to save their butts.

I'll tell you, I was widowed when my youngest two children were 1 and 3. My children receive social security totaling $2400 a month. That's about $27,000 a year. A $400,000 life insurance policy on our part would have accomplished the same thing. Term life insurance is very affordable.

I wonder how well I would be situated being allowed to invest the money I pay into FICA, and instead invest it in Mutual Funds? Wouldn't that also be better for the American economy?

Exactly. THE ROI on SS is not all that good and it gets worse all the time. Now they want to give it to you later. How much time will you really have to draw from it? I'd rather save on my on then let the extortionist in Congress steall from me

 

[boedicca]

How do you feel about retirement? Inevitably the retirement age will be raised. The system just won't support people living off of SS the length of time that modern medicine has created for the elderly. Of course, the cost of that modern medicine is also high, and healthcare costs keep rising each year, but we can all pay for that.

Of course, many will be unable to work because of chronic health problems. I guess all the healthy people can just work harder to pay for the SS disability checks for the unhealthy. I wonder if unemployment will go up because the old folks will need to work until they're 69?

Retirement age at 69? Deficit plan hits Social Security. - CSMonitor.com

The proposals from Simpson and Bowles would be phased in over time; here are the three most important cuts to benefits:

1. Benefits formula: Simpson and Bowles recommend some highly technical changes to the formula used to determine benefits. This is the biggest single change, reducing the Social Security Trust Fund (SSTF) long-term shortfall by 45 percent. These changes would affect the way Social Security averages workers' lifetime earnings to determine benefits.

2. Boost the retirement age. The full benefits retirement age would rise to 68 by 2050, and 69 by 2075. Reform advocates and actuaries argue that we'll all need to work longer due to rising longevity rates. But it's important to understand that boosting Social Security's full retirement age is a lifetime benefit cut for everyone, no matter when you retire. Earlier this year, advocates at Social Security Works calculated that raising the full retirement age to 70 from 67 would reduce lifetime benefits by 19 percent for a worker entitled to a monthly payment of $1,000.

Working longer is a key strategy for improving retirement security &#8211; for knowledge workers and professionals best positioned to pull it off. It doesn't work well for workers who do physically demanding low income jobs. Simpson and Bowles are recommending a "hardship exception" for certain occupations where working longer isn't an option, but the devil will be in the details. Ask anyone who has struggled to qualify for Social Security disability payments &#8211; the process is long and complicated

Most chronic health issues are due to poor lifestyle choices. If the expected lifespan is into the 80s or 90s, it makes sense to raise the retirement age. Perhaps when face with needing to work longer, people will take better care of themselves.

We need to stop enabling overeating, drug and alcohol abuse, and sloth.

We should also implement a Chilean style of retirement savings and take away the slush fund from Congress.

 

[WillowTree]

Ive never understood the obsession with retiring. Life is so much more fulfilling with work.

Now there's a plan. Do away with retirement altogether, then we need not worry about social security taxes for the demonRats to piss away. Get rid of all of it.

 

[boedicca]

Agreed.

I will never really retire - just move on to other forms of employment/activity.