#2. Some jobs wear people out at younger age like age 55-60 for many. Why should GOVT retire at 55? 50? But a truck driver work to 67? hips blown out, headaches, eyes, strength gone. You want more? Let the workers/doctors decide when it is enough.
#3. Preposterous. double taxation.
Correct. When we hear of increasing the age to collect, it's usually by some guy with a microphone in front of him and the most he lifts at work is four pounds.
Try making a roofer work until the age of 67. Try making a construction laborer work until that age. Do you want to see an iron worker walking on those beams 20 stories high at 66 years old?
As you mentioned, even my career has to be considered. When my trailer is loaded, I'm piloting a 75,000 lbs vehicle on the road right behind you. When traffic comes to a sudden stop in a snow storm, do you want to be the in the car in front of me when I have to slam on the brakes and control that vehicle to a stop at 67?
It is up to you to plan for your own retirement
If you can't work into your 60s you need to plan an alternate profession or maximize your savings in a 401k to retire early
So in other words, government fails us again and we have to find alternatives.
Not many people realize what shape they are going to be in their 60's until something happens which is usually later in life. If I could have taken all the SS money me and my employers contributed since I stated working, had that in a conservative IRA instead of giving it to government to handle, I'd probably be retired right now.
How is the government failing you if you are no longer able to work?
You knew you couldn't work into your 60s
Why didn't you start that IRA yourself while you were in your twenties!
HTF does anybody know how long they will be able to work? Some people work into their 70's, some people don't make it much past 50. You have no idea how long you can work until you get to that point.
Government is failing me by promising I will receive Social Security when I retire at 65. Now they moved that to 67 although I don't know when I can take early retirement yet. And they are talking about moving the age of collection even further.
I have two cousins that each have their own remodeling business. Yes, they did plan for their retirement but are struggling to get there. Both are in their early 60's now.
IRA's didn't come out until I was already working for years. Our company started ours about 23 years ago. IF the government let's me work until 65, I will have a nice nest egg, but again, you never know what the future holds. You may live until 88 years old......you may die at 65. Nobody knows these things.