I consider anything I get from SS at retirement to be a bonus. I don't factor SS into my plans.
Hell with that...I've been paying in for almost 50 years...when I turn 62 I am eligible and I will begin drawing that check immediately.
I agree with that. Give it to me know before I fall over dead or its gone.
I consider anything I get from SS at retirement to be a bonus. I don't factor SS into my plans.
Well, just wait till the government takes over healthcare.
Everyone seems to think it means everything will be free.
But I keep looking around, and the government keeps saying it doesn't have enough money. Needs to cut spending and raise taxes.
Why would healthcare be different?
Here is the REAL rub regarding social security.
When it was designed, sold to the American people, and later implemented it was sold as one (1) leg of a three (3) legged stool. It wasn't supposed to support the whole weight of retirement, but only a third of it.
One (1) leg was social security, one (1) leg was personal savings and investment, and one (1) leg was the company pension. How many folks here remember this analogy?
So, if a retiree was to make $2k a month on SS, he was to ALSO make $2k a month from his own personal investments along with $2k from his company pension. This would insure that he would be living comfortably on $72k per year with most all debts being eliminated.
How many people do you know that can or will match this? As most companies now do not offer a pension, that means personal savings and investments should equal 67% of expected revenue during retirement. I doubt most young people are anywhere near that investment capability.
Of course, no one talks about the three (3) legged stool stool anymore as most Americans would freak at the percentage of their income required to fund the missing pension. And of course looking at their massive credit card debt, student loans, car loans, etc etc etc that would need to be sacrificed would horrible, horrible I tell you!
Regards,
Doug
We did not either but the insanity in 06/08 changed all of that for us.
It amazes me when people complain they are broke. They drive a 60K SUV, sport a 1K phone and dress to the 9's.....................but they are broke.
Not to mention the inflation of the '70's. I remember the money I was saving being worth less the next month. I had a goal in mind back then that I never reached; it cost you money to keep money.
Doing much better now...as far as SS goes...I'm prepared to try balancing on the two legged stool.
When / if the government takes over our medical care there won't be any. We should be prepared to survive without doctors. The only medicine available will be mandatory.
We are on a stool with 2 legs right now as to fixed income. The crash in 06/08 took out one of the legs. If I was more responsible and actually watched I could have averted a lot of the losses we suffered but I was not. Life was dishing out enough to keep me focused elsewhere at that time.
I do still work when I can. So call it 2 and a half legs.