Sure it is nice to say give me what we agreed upon.
Social Security was a fine idea as long as the majority of people were kind enough to die before they could collect. But you old folks aren’t so accommodating anymore.
So what is going to happen real soon when the baby boomers start to retire? When the SS surplus erodes to nothing and budget deficits balloon out of control.
You can bet that they won’t cut spending or social programs. There is already talk of increasing the SS retirement age.
For me early retirement now is 65 ½ full at 67. I expect before I actually retire that will be pushed back probably to 72.
At this point I would be extactic to have the Bush Social Security reform plan passed. Let me put half or even a quarter of my SS “Contribution” in a retirement account. At least with some part of my money being “Mine” I would have some hope of reaping some benefit of those hard earned dollars.
With Social Security as it exist now I really do not expect to see any of that money ever again. I certainly do not plan as if those SS payments will ever arrive in my bank account.
I really do believe that Social Security is a Ponsi sceme and that my generation and those that follow are the Patsies. And I KNOW that the Social Security Trust Fund is a myth.
no matter how often they push the mindset that there won't be money for my generation, they won't get away with it. hell, i've already put in about 200k... just that money straight would be fine. 50% of people never make it to retirement (life expectantcy == median point). 50% of those that make it that far, won't make it 10 years. Odds are definitely stacked against people to get the money.
hell... when I kick, I would sure as hell expect it to go to my estate for my kids (yea, like that'd ever happen)