My mom and dad were born in 1921, and 1922 respectively...I remember, during the 70s, my mom kept saying, that she doubted if Social Security would be around when they got ready to retire...she and dad planned their senior years around what they could save for themselves, plus dads retirement from Sunbeam....when they did retire when dad was 60, they were surprised that Social Security was still around...so getting their Social Security checks when they turned 62 was a surprise to them, and added money to their nest egg...
So I grew up, believing that Social Security would never be around for me...I was born just before the beginning of the Baby Boomers, in late 1945, my hubby a few years before that time, ,born in 1943....the hubby just retired, less than a month ago, at age 62....sure, he gets a lower Social Security monthly, but heck, he does not even know if he will live long enough to wait for a full check at age 66...he wants to enjoy life now, not spend his last few years working....so his army retirement, plus his postal office retirement, plus both of our social security checks, really is more than enough for us...but we both never thought Social Security would be around...our true savings came in the form of the Thrift Savings Account, we started and maintained at the post office...used wisely, the amt we draw in an annuity each month, about equals the interest we gain, so we almost never touch the principal...that way, we could live many, many years and enjoy our life...
My older boy died early, at age 15, many years ago, so he never contributed to Social Security, , but will also never draw any...so it evens out...
Our younger son, is 30, unmarried, and makes tons of money, but also pays tons of Social Security taxes...but all his life he heard his grandparents, and us, his parents, warn about the eventual failing of Social Security...so from the beginning of his working career, he has always saved towards his eventual retirement, as he never wants to rely on Govt, to support him, and he hopes we, his parents, spend all of our money before we die...he does not want to inherit a dime from us.....so he looks to himself, as the sole person responsible for his own retirement...he figures by the time he is old enough to retire, Social Security will be a bust...
It is beyond me why seniors dont care what happens to those who are left working after they are gone...that attitude just confounds me...I worry(as parents should do)about my surviving child, about any possible grandchildren he may have(if he ever settles down), and what their financial future will be....thank goodness, my son has shown that he understands what he should do for himself for his old age, and he acts on that...
We should all worry about how we leave the world when we die...leaving it in a terrible financial condition is a nasty epitaph...
Everyone needs your attitude and a plan like the post office plan.