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re: Should people under 35 be allowed to opt out of Social Security?
Posted on 10/10/17 at 9:58 am to St Augustine
Posted on 10/10/17 at 9:58 am to St Augustine
quote:
. I'll be shocked if I see it and have been paying into it for well over a decade.
The lawsuits will be epic when SS collapses and people don't get back what they paid in.
1
Posted on 10/10/17 at 9:59 am to 50_Tiger
Buying stock based on a split is a terrible way to invest
Same with holding onto a stock waiting on a split
Same with holding onto a stock waiting on a split
Posted on 10/10/17 at 9:59 am to junior
quote:
This is why we need Social Security. If you'd guess wrong (and many would), some people would be destitute. Then we'd have elderly people w/ no income. We are not willing as a society to let them die on the street, so we would pay them something anyway.
But the age needs to be increased to at least 70.
Yet the same elderly folks don't want to help out millennials with the Student Loan albatross?
Posted on 10/10/17 at 10:00 am to 50_Tiger
You have to understand how the system was set up, it is a social program hence the social in social security. People eligible got paid from the beginning most having paid in very little and some never paying in a penny. The number of payers has steadily reduced vs the number of payees. Reduced birth rates and people living longer.
It has long been the 3rd rail of politics, nobody young wants to pay more and nobody older wants the benefits to change. The benefit structure needed to be changed with benefits coming later and/or lower the assets or income allowed and/or increase the percentage or the cap for the tax.
You have to see it as an entitlement not a savings account or it will drive you nuts.
It has long been the 3rd rail of politics, nobody young wants to pay more and nobody older wants the benefits to change. The benefit structure needed to be changed with benefits coming later and/or lower the assets or income allowed and/or increase the percentage or the cap for the tax.
You have to see it as an entitlement not a savings account or it will drive you nuts.
Posted on 10/10/17 at 10:02 am to 50_Tiger
People older than 35 should be allowed to. I'm in my mid 30's and I won't see a penny of what I've paid in.
Posted on 10/10/17 at 10:02 am to Thib-a-doe Tiger
quote:
Buying stock based on a split is a terrible way to invest
Same with holding onto a stock waiting on a split
While true, Apple was the one company you could say within ~ 90% confidence that it would gain market share and the stock would climb even after the split. A lot of folks probably would balk at the notion of 700 per share, but at 91, to get into the best cash holding company in the world? Why not? At least that's my opinion on it. I could be infinitely wrong.
Not quite a slam dunk but they have a cult like following.
Posted on 10/10/17 at 10:03 am to Displaced
quote:yeah good luck with that
The lawsuits will be epic when SS collapses and people don't get back what they paid in.
Posted on 10/10/17 at 10:03 am to Obtuse1
quote:
You have to understand how the system was set up, it is a social program hence the social in social security. People eligible got paid from the beginning most having paid in very little and some never paying in a penny. The number of payers has steadily reduced vs the number of payees. Reduced birth rates and people living longer.
It has long been the 3rd rail of politics, nobody young wants to pay more and nobody older wants the benefits to change. The benefit structure needed to be changed with benefits coming later and/or lower the assets or income allowed and/or increase the percentage or the cap for the tax.
You have to see it as an entitlement not a savings account or it will drive you nuts.
Someone correct me on my political history, but wasn't SSec thought up by F.D.R because one of his opponents in either California or some other coastal state had a similar idea?
This was done for votes.
Posted on 10/10/17 at 10:04 am to 50_Tiger
All of what you said is true, and also makes 0 sense.
People who buy stocks based on price and not value do not understand investing.
Apple was a solid play but it has nothing to do with the price it was bought at
People who buy stocks based on price and not value do not understand investing.
Apple was a solid play but it has nothing to do with the price it was bought at
Posted on 10/10/17 at 10:06 am to 50_Tiger
I'm looking to cash out early what I've put into the scam
I know it's harshly penalized but something is better than nothing
I know it's harshly penalized but something is better than nothing
Posted on 10/10/17 at 10:06 am to Thib-a-doe Tiger
quote:
People who buy stocks based on price and not value do not understand investing.
Well we are talking about old people and noobs (me)
@ 31, I have been taking baby steps to personal investing.
So under educated people on investments typically shop like they would at the local Target.
Posted on 10/10/17 at 10:08 am to 50_Tiger
I get that.
Here’s a tip. Think of a split as getting 4 quarters for a dollar bill.
The only difference is you might get a little temporary bump from emotional or “value” investors, but in the end the company is worth what it is worth
Here’s a tip. Think of a split as getting 4 quarters for a dollar bill.
The only difference is you might get a little temporary bump from emotional or “value” investors, but in the end the company is worth what it is worth
This post was edited on 10/10/17 at 10:09 am
Posted on 10/10/17 at 10:09 am to 50_Tiger
If I'm not mistaken, you may do so now via an Amish or Mennonite conversion.
This post was edited on 10/10/17 at 10:11 am
Posted on 10/10/17 at 10:09 am to yellowfin
In the future they will probably end up not allowing those who have a certain amount of wealth built up through personal retirement vehicles be eligible for participation. This will really piss off those people who actually planned and saved for their retirement and were good with their money when they were younger.
Posted on 10/10/17 at 10:10 am to lowhound
quote:
I'm probably not going to be able to draw on my social security anyway. All the funds will be gone by the time I retire
They already are. Robbing Peter to pay Paul never lasts. Eventually Peter runs out of money too.
Posted on 10/10/17 at 10:11 am to brass2mouth
quote:
I mean, how much high do you want it raised? You're basically one step into the grave by the time you're eligible as it is.
No, you're not.
It originally was designed to support people the last few years of their life. Now we have people on it for decade plus.
Life expectancy has far outgrown the periodic rise in social security age. Both my in-laws and both my parents are eligible and are all still working and healthy and vibrant.
That is absurd.
Posted on 10/10/17 at 10:12 am to 50_Tiger
quote:
Yet the same elderly folks don't want to help out millennials with the Student Loan albatross?
To be fair...these are not close to the same thing.
Posted on 10/10/17 at 10:13 am to yellowfin
quote:
I'm 37 and would opt out tomorrow if they'd let me. I'd donate everything I already paid to the cause. Let me out and we'll call it even
Yep.
Posted on 10/10/17 at 10:14 am to 50_Tiger
A ponzi scheme only remains viable with a continuous stream of new entrants.
TLDR: No.
TLDR: No.
Posted on 10/10/17 at 10:14 am to Thib-a-doe Tiger
The earliest to draw social security is the age of 62 at which you receive a portion/percentage based on when you were born. Full retirement is adjusted now as well.
If you were born after 1960 at age 62 you can draw 70% at age 65 you can draw 87% at age 67 you can draw 100%
If you were born after 1960 at age 62 you can draw 70% at age 65 you can draw 87% at age 67 you can draw 100%
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