re: Social Security Administration announces 3.6% cost-of-living adjustment for 2027

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they raise the age a lot for eligibility

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This is likely the only solution they’ll think they can get away with.

Hot damn Neaux! I'm excited.

TG for inflation.

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I won’t even recover the principal amount that I and my employer contributed on my behalf

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Boomers will have gotten a better ROI than anyone else by the time this thing implodes. But a longshot.

Don't forget the Gen Xers. We bout to get up on that social security.

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$75 damn dollars

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Per month increase or $900/year

Which means the average payment would be ~$2,158/month or $25,896/year

That's the average and the median is actually lower (~$1,983/month after the increase)

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Muh, Boomers" cry babies

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Let me explain succinctly explain why we hate >The Boomer<

My last living grandmother is a boomer. She is the norm for most boomers I have met or worked with (thousands at this point via real estate).

It's 2021 and we are on our way to a funeral service for my dad's mom. We are discussing generational struggles and what the hand that each time deals us. The subject of money inevitably comes up. My grandmother—deadpan, frog-faced, placidly—looks us in the eye and says "I don't know why everyone today is having a hard time. I mean, my dad defeated evil (WW2 veteran). They killed Hitler. Our parents defeated evil for good. We had it great. Why did young people go wrong and mess it up? It's their fault. We didn't do anything!"

This is the same woman who had 2 cabins in California, a house in Southern California, on a single salary my grandfather provided working as a manager at a hardware store. Same woman who divorced him for no reason, took everything and married a plastic surgeon years later. Same woman who missed weddings and grandchildren's births because she and her vampire of lifeless sack of shite plastic surgeon husband average about 11 cruises a year (usually more).

I could have tried to reason and lecture her—like every other worthless 75+ year old at a listing appointment—that 'No Dale, you arent a fricking genius for buying 3 single family houses in Glendale for $20,000 back in 1972. You're an accidental millionaire because the last 40 years of fiscal policy and American dominance as the world reserve currency gave you an unnaturally long golden age of prosperity. And you selling your houses in 2022 to Californian boomers isn't actually stimulating the economy, it's actually the real estate equivalent of a geriatric ouroboros fricking itself in the arse like a human centipede..." and so on.

But really what's the point? Boomers didn't create the system blah blah. The real issue is that they inherited utopian-levels of financial stability due to two things (Rules Based Order & Reserve Currency Status) that were islands in the stream of time that they either willfully don't understand or don't care and are too selfish to pay it forward so the youth can actually continue the hamster wheel of civilization. I lean towards the former because frankly most boomers are too honest in their stupidity.

In layman's terms the K-Shaped economy is a generational one and boomers aren't Austrian economic autists. Most of them don't even hold that many stocks. They were literally just born lucky. And as I've pointed out, they are perfectly happy with being welfare recipients of the largest state-funded Ponzi scheme of all human history (Social Security)

So yeah brass tacks is that The Boomer is the generational equivalent of a retarded trust fund kid who doesn't actually believe in meritocracy, or democracy, or really any of their sacred cows. They are a creature enslaved to a single phrase 'I deserve it! I deserve it! I deserve it!'.

We should hold every geriatric down and tattoo that on their foreheads. Then smother them with pillows, rip out their gold teeth to melt them down for fat mineral stacks to buy our way out of the hellish stew they left for us to inherit.

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worst. generation. ever. social security is a ponzi scheme, literally, and boomers will be the only generation in full to utilize it to its fullest extent.

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Baltimore, MD - The Social Security Administration (SSA) today announced a 3.6 percent benefit increase for 2027. Social Security benefits include Old-Age, Survivors, and Disability Insurance (OASDI), and Supplemental Security Income (SSI). On average, Social Security retirement benefits will increase by $75 per month.


$75 damn dollars

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If a 3.6% increase means a $75 a month increase on average the average benefit is about $2083. This ought to dispel the notion that Social Security is or ever was meant to be a retirement account but is and was always meant to provide a modest income and some dignity to those among us who do not have the ability to earn a modest income, namely orphans, widows, the disabled and the elderly. It is right in the name what its intent was and is....

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I won’t even recover the principal amount that I and my employer contributed on my behalf, unadjusted for inflation, for the nearly 50 years I contributed. That Ponzi scheme is rock solid and every working stiff gets bent over by it, unless they work for the government.

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If you live about 7 years after benefits begin you will collect every penny YOU contributed from YOUR earnings...your employer never "contributed" a penny, you earned every penny it cost to employ you including the employers "contribution".

On average a person has to live 7 years after benefits begin before they collect every penny they paid including the erroneously named employers "contribution". The life expectancy of a 67 year old in the US is now about 84 so most recipients will receive close to double their total contributions by the time they reach room temperature.

Don't believe me? Look at your statement from social security. At the bottom of the left hand side on page two there is a box that says "Taxes Paid". In that box you will find your total contribution including the employer "contribution".

Divide that number by the amount of benefits on page 1 for the age you plan to retire. Divide the result by 12. That's how many years you would have to live after benefits begin to collect every penny. For most people it is around 7 years. In all but extremely rare instances the income cap and benefits cap keeps anyone from having to live more than 12 years to recoup every penny. This is not including any inflation or any costs associated with opportunity costs, just the actual numbers.

In exchange for this the tradeoff is a society where the orphaned, the widowed, the elderly and the disabled are provided a modest income instead of being at the mercy of society or friends and family. It is a helluva deal and the last vestige of the New Deal that created the middle class that bankers haven't gotten ahold of and destroyed. That is why it is villified because bankers have failed to get their grubby dick skinners ahold of it and steal it so they have turned to their minions to get some help and far too many people who ought to know better are more than happy to carry those frickers water for them.

No one has EVER told anyone they couldn't save as much as possible for retirement. If one is of the opinion that they have somehow been robbed by social security taxes because they did not receive any interest on their SS taxes they are an idiot who failed to realize they weren't going to receive any interest on those taxes. They were an idiot to ever think it was meant to be an individual retirement account. If they did not make enough money to save for their needs in retirement they were an idiot...no one forced them to do so, no one forced them to fail to save for retirement and no one ever told them it was meant to be a personal retirement account, if someone did tell them that and they believed it they are an idiot. By any estimation one has to be an idiot to believe any of this happened. The intent was and is to provide a modest income to those who can't earn a modest income, the orphaned, widowed, elderly and disabled...it is right in the fricking name.