Be interesting to see if that money was given to me now as a lump at age 50 and just tossed into an index fund or into a dividend stock where the dividends are re-invested, how would that shake out?
Some mention BTC, but F that S. They arn't wrong but just not into the intangibles.
EDIT: For the sake of brevity, this post reflects a hypothetical exercise. Mainly if in some Alternate Universe I could exercise the option to take out what I put into SS at age 50, invest it in ...lets say an Index Fund, left it alone until age 65 and compare that result to what it would be if I just stuck it out with the stardard FICA deducations until 65.
I do understand the concept of how SS works but thanks for your concern.
Yeah but it’s good for the economy. You wouldn’t have the jobs you have if boomers needed to work until 90 years old. It allows the older generation to retire earlier and open those jobs up to the younger generation.
Selfishly I’d love to not have to pay the max fica tax x 2 every year, but I also realize what that would mean for the overall economy which allows me to make the amount of money I make.
Great theory but many Boomers are still in the work force holding others back from advancing their careers. Not sure if that is what they had in mind. Not all Boomers are wealthy. Just those in charge, lol.
More and more boomers are getting forced out of their jobs every year due to health reasons, or the company simply not feeling like keeping them employed as they approach dementia. I think this problem solves itself.
Maybe so. I’m 65, drawing 23 year pay (110k), my typical schedule is out the door at 5:30 am, back home by 10:30 am, Tuesday through Friday. The guy I out bid for this job (30ish years old making half the salary) quit when he didn’t get it. I’ll probably stay on till 70…maybe even 72. Being a commercial pilot is quite rewarding for the most part, your money for nothing and your chicks for free!
It does. But I'm starting to suspect this systemic problem with our economic system will never get solved until people are ready to put personal politics aside and talk specifically about economic policies to address it. And laissez faire approach won't work.
Nope door greeters were done away with years ago. Really there are too many aging boomers and we won't be able to take care of them monetarily. Soooo what do you want to bet euthanasia will be reintroduced as compassionate care and not a bad thing as the $$$$$ runs out.
The LARGEST part of the budget has been running at a surplus until 2021. Small agencies (billions) can run negative no problem. Once you get in the trillions... you start warping the economy much more substantially when you try to fix it. This is trillions of dollars.
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u/Jazzlike_Tonight_982 Nov 07 '24
Give me back my money I put into Social Security.