Posted on 06/18/2011 6:53:46 AM PDT by SeekAndFind
0bama has done away with retirement by making everyone UNEMPLOYED. How do you retire from unemployment?
True enough. Most families today do NOT resemble “The Waltons”. I know the Waltons were a fictionalized idealized family from the ‘30s, but, it was common back in the day for extended families to live together like that. Today, due to cultural changes, it’s very uncommon. I wonder how many younger people are ready to welcome Grandma to live with them. It’s something outside of their frame of reference.
It’s also something that the young people might resist as interfering with their own freedoms. The way some young people are, they resist having to be responsible for other people in their family, because they think the government should take care of them if they have problems, or can’t afford to live on their own. They would complain of the cost and inconvenience of living with Grandma.
I’m not going to be able to retire and have already accepted I must work for as long as I can.
Ain't it the truth. I take home about 60% of my gross pay. If the taxes weren't so high, maybe I could save to finance my retirement instead of saving to finance Weiner's retirement.
RE: have already accepted I must work for as long as I can.
Many people have concluded that. Only one problem ... even though it is theoretically illegal, America is rife with AGEISM.
Try looking for another job when you get laid off in your late 50’s....
If your boss is kind and willing to hold on to you, congratulations. You work in a very rare business.
They’ve got to save the stock market, so they’re taking away the other options.
The whole concept of retirement was created during the great depression to usher older workers out of the workforce and decrease the unemployment rate.
It's a ruse that benefits companies because they get to rid themselves of their most costly employees, and by the government which gets to trumpet artificially low unemployment numbers as proof of their omnipotence.
Agreed. And businesses before major outsourcing abroad will cut the 50+ staff and keep the 25-45 crowd, bringing in a few contractors to meet the work load peaks. It isn’t necessarily “you’re gray, go”, it’s the salary after years of slow raises pricing you out of the market.
Exactly right. Some people can. Some people will. Heck, maybe I will. It would be lovely to sit on the beach, or travel, or any of that. But the fact is that that concept is very recent and has not proven terribly practical.
An awful lot of people are going to have to adjust their thinking. Working until you get sick and die is the old fashioned way, and I suspect it is making a comeback.
He is counting future liabilities that are mandates of the program, much as accepted accounting procedures would require of a private pension/medical plan.
Without the accounting gimmicks, the national debt is closer to $100 trillion (not 14).
“At 65 years of age should people in general believe they are entitled to a thirty to 35 year holiday or not. ... hrmmm ... Tough decisions. “
It’s not that simple. In order for jobs to open up for young people just starting out and maybe raising a family, people have to retire. If you raised the retirement age 10 years it would have a very bad effect on the younger people in terms of unemployment. You would have to have a real high growth rate, or else very slowly increase the retirement age.
Also, the average age at death in the United States:
Rank——————average men-——women
36———————78.3——75.6——80.8
So if you retire at 65, you only have 10 years (on average) till you die.
“...I wonder how many younger people are ready to welcome Grandma to live with them...”
-
At the Repeal house, it is the other way round.
The underemployed and unemployed adult children contribute what they can; while Grandma and Granddad help watch/raise the toddlers.
Those years will reduce as Obamacare comes online. Those of us who make it to 65 in the coming years, will be fortunate.
If Obama has anything to do with it, you will be shipped out on an ice floe long before you reach 90.
Or $30,000 for an angiogram with no other procedure such as a stint? Just a one morning out patient procedure.
Complex equipment, yes, requiring skills, yes and so forth but $30,000? I wonder.
Retirement, not bloody likely. I don’t see it as a realistic thing even if a person were 60 with $4 or 5 million. I know that sounds absurd but who wants to live an existence of more perpetual uncertainty?
You're right. And wives went to work because of birth control. One thing leads to another.
I think multi-generational living is becoming more common in our area, and not just because it has a lot of people from other countries. A lot of people in our area move into a their parent’s house, for mutual benefit. The houses in this area have become really expensive, and the elderly parents need company and assistance. The children have the benefit of the good schools in the area and knowing their grandparents well.
Also, I think, absent some really good interest rates, it is unreasonable to expect to live well without working for 25 years on what you earned in your first 35 years of adulthood. Especially considering that older people are healthier and work is not so physically debilitating as it was a couple of generations ago, they are able to work and would find it kind of fun.
I think the trend will be toward retirement from “career” work and transitioning to caring for grandkids or ‘light’ work of the sort you don’t stress about when you leave the workplace. The thing everybody should really save for is those last couple of years of needing in-home nursing or a skilled nursing facility, so family members aren’t having to do more than they can handle in caring for you.
As to employing the young, well, I think we better stress entrepreneurship because people may or may not offer our kids a job. They may have to create their own.
*** With insolvency a real and present danger, at last a consensus is now forming that Social Security must be structurally altered if it is to survive. ***
But, but the government promised us everything would be A-ok! Here is the promise from 1964!
http://www.ssa.gov/history/ssa/usa1964-2.html
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government. Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
And here is where your money went! Read and weep!
http://www.socialsecurity.gov/OACT/ProgData/fundFAQ.html#n4
*****
THE OLD AGE PENSION CHECK
Roy Acuff & His Smoky Mountain Boys - 1939
When our old age pension check comes to our door,
We won’t have to dread the poor house anymore.
Though we’re old and thin and gray,
Good times will be back to stay,
When our old age pension check comes to our door.
When her old age pension check comes to her door,
Dear old grandma won’t be lonesome any more.
She’ll be waiting at the gate,
Every night she’ll have a date,
When her old age pension check comes to her door.
Grow a flowing long white beard and use a cane,
‘Cause you’re in your second childhood, don’t complain.
Life will just begin at sixty,
We’ll all feel very frisky,
When our old age pension check comes to our door.
Powder and paint will be abolished on that day,
And hoop skirts will then be brought back into play.
Painted cheeks will be the rage,
And old maids will tell their age,
When their old age pension check comes to their door.
All the drug stores will go bankrupt on that day,
For cosmetics, they will all be put away.
I’ll put a flapper on the shelf,
Get a grandma for myself,
When her old age pension check comes to her door.
There’s a man that turned this country upside-down
With his old age pension rumor going ‘round.
If you want in on the fun,
Send your dime to Washington,
And that old age pension man will be around.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.