Zone1 Addressing the Disparate Impact of Social Security

[WorldWatcher]

That has been replaced by 401ks
Personally, I prefer my pension

My wife and I are either very blessed or very lucky. We have pensions and have invested heavily in our 401K's. We ensured we lived below our means to build the 401K's.

At this point we will financially secure in retirement without having to touch the 401K's which we view as our "Emergency Funds" for much later (assisted living, long term care, medical bills, loss of home due to fire, etc.)

WW

 

[Care4all]

The average black lives to be 78. Fuck off racist.

77.28 years (2020)

69 years for black males is what I just read.

 

[Woodznutz]

Republicans are more every man for himself and Democrats are more We are all in this together.

We need more rugged individualism in this country. We have enough of the other kind.

 

[Woodznutz]

I told this Republican we do Social Security because most people won't save for retirement. He said it's their fault. I showed him
The median male salary in 2022 was $52,612. The median female salary was $39,688,

It's not their fault. At what point do we start blaming Unregulated Free Market Trickle Down Capitalism?

The average earnings were $77,000 for men, and $55,000 for women in 2022.

Regardless of inequities America is still the best place to be if one wants to succeed financially.

 

[sealybobo]

The average earnings were $77,000 for men, and $55,000 for women in 2022.

Regardless of inequities America is still the best place to be if one wants to succeed financially.

And do Republicans really want workers making more? I thought that would just hurt consumers and investors and cause inflation?

Michigan ranks number 50 out of 63 states for salaries on ZipRecruiter.

As of Dec 23, the average annual salary in Michigan is $49,417.

 

[sparky]

I got the tired part of retirement so far......~S~

 

[sealybobo]

I got the tired part of retirement so far......~S~

I admit if I felt the same way I do now in 9 years, I'd keep working and each year longer I go before drawing, the amount increases. I just want to be able to retire if I want to. No changing it from 62 to 65. I will probably work till 65 anyways because I won't want to pay for healthcare at age 62, 63 and 64, but if I want to, I want to be able to say I'M DONE at 62 because that's always been the plan.

And no 20% cut to my benefits like Republicans suggest.

 

[Woodznutz]

I got the tired part of retirement so far......~S~

Doesn't re-tired mean tired all over again.

 

[Blaster]

69 years for black males is what I just read.

All that fried food and poor lifestyle choices are to blame.

 

[sealybobo]

Doesn't re-tired mean tired all over again.

Depending on how rich my nephews are, I may just take all my money and ask an investment firm how much can they give me a month for the rest of my life if I give them all that money?

It's a gamble for them and me. If I live a long time, I benefit more they benefit less. But if I die early, they keep whatever is left over.

But the only way I would do this is if

a. The monthly payout was huge
b. It would pay out my entire life no matter how long I live

 

[Woodznutz]

And do Republicans really want workers making more? I thought that would just hurt consumers and investors and cause inflation?

Michigan ranks number 50 out of 63 states for salaries on ZipRecruiter.

As of Dec 23, the average annual salary in Michigan is $49,417.

I became a millionaire on that level of earnings. I still only earn about $60,000/yr. in wages but my total income is about $120,000/yr. including interest on savings, and SS. I add $50,000-$60,000 to my savings each year.

 

[Woodznutz]

All that fried food and poor lifestyle choices are to blame.

Smoking and drinking are the worst culprits.

 

[Concerned American]

And receive the larger of the two benefits.

These are generalizations. The survivor issue is controlled by how the original recipient chooses to receive their benefit.

 

[sealybobo]

I became a millionaire on that level of earnings. I still only earn about $60,000/yr. in wages but my income is about $120,000/yr. including interest on savings, and SS.

You had it easier than young people today. That was a lot of money back then. Then you had all your shit paid off and it was easy to save. And you got good interest. Plus you got social security.

Boomers are assholes. They tell us we can't have it as good as they had it. They/You basically retired and cashed out.

Holy shit. You won't believe what I found. It's from 2002.

The first of the boomers will be 65 in 2011, often cited as the year when the age wave will arrive. Yet for over a decade, more than half of the new recipients of Social Security benefits have opted to collect them at age 62, and close to 70 percent have done so before age 65.

So you boomers are telling us we should continue to work longer but what did you do? Most of you retired early. Hypocrites.

 

[Woodznutz]

You had it easier than young people today. That was a lot of money back then. Then you had all your shit paid off and it was easy to save. And you got good interest. Plus you got social security.

Boomers are assholes. They tell us we can't have it as good as they had it. They/You basically retired and cashed out.

Holy shit. You won't believe what I found. It's from 2002.

The first of the boomers will be 65 in 2011, often cited as the year when the age wave will arrive. Yet for over a decade, more than half of the new recipients of Social Security benefits have opted to collect them at age 62, and close to 70 percent have done so before age 65.

So you boomers are telling us we should continue to work longer but what did you do? Most of you retired early. Hypocrites.

Everyone's story is unique. People have more and better opportunities today than when I started out. They just don't realize it. I'm not a boomer. I was born in 1940.

 

[sealybobo]

I became a millionaire on that level of earnings. I still only earn about $60,000/yr. in wages but my total income is about $120,000/yr. including interest on savings, and SS. I add $50,000-$60,000 to my savings each year.

I was telling someone else back in the 2000's Republicans told me it's better for a company to hire 20 people who each make $50K than it is to hire 10 who make $100K.

I get why that's better for the corporation, consumers and shareholders but not for workers. So please don't try to suggest the GOP is the worker party.

Neither is the Libertarian party if you belong to it.

 

[Woodznutz]

Depending on how rich my nephews are, I may just take all my money and ask an investment firm how much can they give me a month for the rest of my life if I give them all that money?

It's a gamble for them and me. If I live a long time, I benefit more they benefit less. But if I die early, they keep whatever is left over.

But the only way I would do this is if

a. The monthly payout was huge
b. It would pay out my entire life no matter how long I live

Check out annuities.

 

[sparky]

Everyone's story is unique

yup......

~S~

 

[Woodznutz]

I was telling someone else back in the 2000's Republicans told me it's better for a company to hire 20 people who each make $50K than it is to hire 10 who make $100K.

I get why that's better for the corporation, consumers and shareholders but not for workers. So please don't try to suggest the GOP is the worker party.

Neither is the Libertarian party if you belong to it.

Looking back, I made good money when I was younger. I just wasted it on good times. I didn't get serious until I was in my forties. Most don't have either a plan or even the intention of financial security when they are just starting out. Big mistake as one's working life is actually quite limited.

 

[Care4all]

The average black lives to be 78. Fuck off racist.

77.28 years (2020)

As of 2022, the life expectancy for African American men was 61.5, nearly eight years shorter than for African American women.
Nov 13, 2023
Life expectancy for men in U.S. falls to 73 years - STAT News

statnews.com