re: the median american couple retiring in 2033 can expect a $17,400 annual cut in ss payments

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If Congress would have sucked it up and implemented a series of small changes starting in the 80s, this wouldn't have been as big an issue.

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Kinda like that balanced budget law in the 90's that was going to pass until that one cksucking Congressman flipped his vote at the last minute.
Many to blame, but think how different things would be but for that one a$$hole.

Sorry you won’t be getting your boomer welfare baw

Gonna mean less trips to the Cracker Barrel

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At what age? Huge difference between starting 62 or starting at 70.

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Every situation is different, but my financial guys figured out that the breakeven is 87 years old. i.e. I'd have to live past 87 to come out ahead by delaying for the higher benefits.
It just comes down to how long you WANT to work and what other savings & obligations you have.

I do wonder if you'd be better off "getting in early" and getting something just in case it crashes or gets "fixed"

I’m sorry. But I was told all of these beautiful, hard working, gritty, and patriotic illegals were going to save social security. And for that we should be grateful. Oh yea… and we would also starve without them.

What happened to that?

The amount of money we gave to Ukrainian could fund SS for 10 years. Our corrupt gov has jumped the shark and their answer is to further the bleed the people.

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Sorry you won’t be getting your boomer welfare baw

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Save your regrets. I’ll do just fine in retirement without SS. Also, if I was a boomer, I’d have been working age a lot longer than 35 years.

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The amount of money we gave to Ukrainian could fund SS for 10 years. Our corrupt gov has jumped the shark and their answer is to further the bleed the people.

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nah, let’s blame Boomers because we as Millenials are too ignorant to invest in a 401k.

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One last frick you from the Boomers to Millennials

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Reminder, the 2023 SS COLA was 8.7 percent.

In the face of insolvency.

I am 73, retired, and living well on SS. Between my wife and I, we get $41,000 a year. The key to living well on SS is to not have any mortgage, car note or any debt of any kind. We use our credit card to pay for everything. We pay the balance off 100% every month so as to enjoy approximately $1,000 a year in rewards from Costco and Citi card.

So how do you fix SS and Medicaire? There are those who say let me invest that money and avoid this government ponzi scheme. That is bullshite. Those alleged payments that you would take to invest would be siphoned off for so many sturpid things over the years. The only way to avoid that is forced contributions.

As to those who advocate waiting until 71 or so to claim in order to get more money, what makes you thing you are going to live that long? Enjoy the money while you can.

Want to add more money? Very simple, remove the ceiling on payroll deductions so that every $ earned through work is charged the current 7.65% up to a top level earning threshold of $400k.

Want to increase your wealth for retirement? Take advantage of any 401K and contribute the maximum to get the maximum match. Got extra money at the end of the month? Pay off debt or start your own IRA in addition to your 401K. Take that $5.00 you spend daily for a fancy cup of coffee along with the $10 to $20 you use for daily lunch and deposit that in your IRA. When you leave that company, bring your 401K with you to someone like E Trade. You will have a minimum required distribution of 10% when you hit 73.

Ok venting is done, now it is time for a wonderful thing you get to do after retirement, a nice lunch and then take a nap.

Social Security will always exist because the demographics of those that benefit vote at a higher percentage than younger generations. Re-election is top priority of most members of Congress.