Their SS income must be augmented by their lottery winnings, based on the number of tickets I see them buying.
That article is bullshite
I know plenty of older folks who live off their Social Security
I visited my 82 year old aunt and uncle in Texas three days ago and they told me specifically they eat and pay living expenses from social security
Farm income keeps the farm going basically
I know of no retirees that don’t need every penny of they SS.
Hands off trial balloon floaters!
I have helped a lot of US Expats get Thailand visas and I am amazed when SS is all they have. I know one 70 that gets right at 1000 a month SS and has no other source of income.
However, the leftist view will be that there are so many people other there that don't need SS and should be denied it so the more deserving can get a livable retirement.
get 'yer' sticky fingers off my social security. I paid for it, the government kept and used the money taxfree for decades, and I intend to collect it.
SS is mostly it for me. I used my 401k to pay of the car and some other bills. Banked what was left. House is almost paid off.
I found that my spendable dollars from SS was almost the same as my work salary after tax spendable dollars.
My better angel is still working, but she wants to retire in a year and things will definitely change big time.
For crying out loud, investigate the thievery in government.
Start hanging the thieves.
The amount of money saved would be astounding.
It would be interesting to see a breakdown by age, i.e. do older retirees who worked in the time of pensions rely less on Social Security than younger retirees who never had access to corporate pension plans?
In my case I have to work AND use SS income in order to make ends meet. I lost most of my 401k in the crash after years of scrimping. I think more are dependent on it than this guy realizes. My utilities are higher than my house payment used to be and they keep going up.
I think the only people who actually have secure retirement are government workers.
Means Testing trial balloon.
I work until I die or they take the keys from me. SS isn’t enough and savings need to go to my wife who will likely live on another 30 years after I die.
This will be SS fund social equity redistribution take from the "haves" and give to the "have nots", won'ts, don'ts, never wills and non-english speakers currently flooding the system. It will be disguised as keeping SS self funding.
They will evaluate the SS payments as a percentage of total personal retirement (or entitlement) income and personal net worth. Then they will assign a "cap" based on some GAO study where they decide the "haves" will have too much. When that number is decided they will meter out the SS payments as supplemental payments not to exceed the aggregate personal cap. You can readily see some will max out an never see $1 of their "guaranteed" SS retirement income.
If you don't already think that is happening, look at income taxes. They are already doing it, it is just cloaked as income tax. Social security is taxed on a graduated scale depending on you tax status. I pay regular income tax on 85% of my SS payment.
So it’s OK for the government to steal more money from us because supposedly we won’t need it later? I do not think so!
40% of our retirements come from SS - we could subsist w/o it but not enjoy our retirement as we do...we paid for it w/o options to go a different route so we planned it into the mix. If SS was our only avenue, we’d be up the proverbial creek w/o a paddle.
I’ve been retired for almost four years and could have started collecting SS two years ago. My retirement planning never factored in SS as I wasn’t sure it would still be there for me. When I hit 66 I’ll reassess and decide when I should start getting SS.
If I won’t depend on when I retire, then stop taking it from me now.
Do I ‘depend’ on SS? Maybe a little. It supplements income from my investments. If there were no SS I would survive.
- UNLESS you're a dem sponsored illegal alien invader, in which case you get benefits even if you never paid into the trust fund.
How much if the SS Pie is given to young people who claim SS Disability, then get on Medicare two years after their initial Claim is filed?
All I see on daytime TV (not that I watch that much), are SS Disability Lawyers, one who is also a Psychologist (cough-cough), advertising for Clients.
You get diagnosed as Bi-Polar, you’re set for life. Have Anxiety, the same. A Drug Addict, there you go.
I never see any of the Clients who are on the Commercials sitting in Wheelchairs or missing Limbs. They are just stealing from the truly Disabled and the Taxpayers.
If they want to keep SS and Medicare solvent for awhile longer, just start adding a Month to the Eligibility Ages.
The Life Expectancy in this Country was around 65 when SS was implemeted. Now it’s the mid 80’s.
Change it so people can collect at Age 62 and one Month the first Year. The next Year, 62 and two Months. Do that for the next 36 Years and the Eligibility Age for early Filers is 65 and 70 for the so called Full Benefit. Also pushes Medicare to Age 68.
As an aside, my two closest Childhood Friends died at age 61. They didn’t get a dime even though combined they “contributed” over a half Million Bucks into the system during their 40 plus Years of working their Buts off.
I’m nearly 65 and I still work. I get Taxed on the SS I started receiving at age 62 and I am also still paying SS and Medicare Taxes. I took SS at age 62 because I have Leukemia and I wanted to get at least some of that money back before I die.
After all the blather int he article the final chart shows taht 80% of retirees count on SS for about 1/3 or more of their income. That makes it look pretty significant to me.
Economists use data like a drunk uses a lamp post, for support instead of illumination.