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Started By
Message
re: Social Security's insolvency date is now a year earlier
Posted on 6/18/25 at 1:52 pm to OlGrandad
Posted on 6/18/25 at 1:52 pm to OlGrandad
It was never meant to be income for retirement. It was meant to be a lifeline for those who couldn’t care for themselves due to death of a spouse or a physical disability
1
Posted on 6/18/25 at 1:54 pm to Auburn1968
quote:
The same $1000 put in a stock index, would produce around $31,000 to $35,000 across 40 years. With inflation, its constant dollar value would be around $10,000 to $12,000.
Yep
The boomers had the stock market go up like 8000000% in their lifetimes while millenials had like 3 depressions
ETA: If a boomer put 100 bucks in the stock market in 1975 it’d be 12 million today
This post was edited on 6/18/25 at 1:55 pm
Posted on 6/18/25 at 1:56 pm to RLDSC FAN
Can I stop paying since I'll never see any of it?
Posted on 6/18/25 at 2:03 pm to RLDSC FAN
A coincidence? Federal employees...members of Congress specifically ... do not have SS deductions as they have their own, better, retirement program. Same with their health plan, better & cheaper. Where is Congress' motivation to solve our problem with SS ?
Posted on 6/18/25 at 2:04 pm to el Gaucho
I know you love hyperbole... and hate boomers
Official Data
quote:
If you invested $100 in the S&P 500 at the beginning of 1975, you would have about $31,405.58 at the end of 2025, assuming you reinvested all dividends. This is a return on investment of 31,305.58%, or 12.08% per year.
This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 5,156.00% cumulatively, or 8.18% per year.
If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $23,489.94.
Official Data
This post was edited on 6/18/25 at 2:05 pm
Posted on 6/18/25 at 2:09 pm to TigersnJeeps
The only 12% millenials get is the monthly interest on our student loans since boomers voted to make college unaffordable
Posted on 6/18/25 at 2:14 pm to Dixie2023
quote:
Maybe quit giving it to those who haven’t paid in? It wasn’t meant support everyone
From inception it was fully intended to provide some modest income to those who had never paid directly into the system for 2 groups, the widowed and the orphaned. It was also, from inception, intended to provide the same to the truly disabled.
Posted on 6/18/25 at 2:14 pm to el Gaucho
You mean the generation that elected Obama for the federal takeover about 2010? That's a lot more than just Boomers and Gen X.
$4k will get you a journeyman license in HVAC, all in. Not interested in what it costs for a marketing degree for the hot chick that will end up a tech recruiter. Did you think this shite didn't need to be paid for?
$4k will get you a journeyman license in HVAC, all in. Not interested in what it costs for a marketing degree for the hot chick that will end up a tech recruiter. Did you think this shite didn't need to be paid for?
Posted on 6/18/25 at 2:20 pm to OlGrandad
quote:
ocial Security was initially meant as income for retirement. Now, it includes crazy checks. survivors and disabled
Why do you hate mentally disadvantaged persons, loving spouses, and last but not least, the physically disabled?
That's why it will never be cut until there is no other choice
Posted on 6/18/25 at 2:21 pm to Keltic Tiger
quote:
A coincidence? Federal employees...members of Congress specifically ... do not have SS deductions as they have their own, better, retirement program. Same with their health plan, better & cheaper. Where is Congress' motivation to solve our problem with SS ?
Fedral employees pay into social security
Posted on 6/18/25 at 2:26 pm to mule74
quote:
We will never fix any of our entitlements.
I don’t consider SS an entitlement.
Posted on 6/18/25 at 2:28 pm to Revelator
Social security is boomer welfare
Posted on 6/18/25 at 2:28 pm to AwgustaDawg
quote:
Fedral employees pay into social security
Depends on what retirement system they are under. Majority of CSRS employees do not contribute to SS.
Posted on 6/18/25 at 2:28 pm to AwgustaDawg
Didn’t the vast majority of people spend their elderly years completely dependent on charity or family members (financially) prior to social security? Retirement, for most, is a fairly modern concept that I don’t think really existed. Physical inability to work, not choice, was why most retired in the not too distant past.
Posted on 6/18/25 at 2:30 pm to jojothetireguy
quote:
i want at least the amount of money i put in
That's not how Ponzi Schemes work
Posted on 6/18/25 at 2:32 pm to RLDSC FAN
quote:
Will we ever fix SS?
Based on the come apart that occurred just trying to cleanup the Active/deceased files to be accurate, I highly doubt it.
Posted on 6/18/25 at 2:33 pm to el Gaucho
quote:
Social security is boomer welfare
Did boomers ask the government to force them to pay SS all their lives
Posted on 6/18/25 at 2:34 pm to RLDSC FAN
Hurry up and crash so I can stop paying taxes for that nonsense I’ll never get to touch.
Posted on 6/18/25 at 2:35 pm to Major Dutch Schaefer
quote:
I haven't gotten the whole story but apparently Biden signed some new law. A lady I know worked for the federal government under their old retirement system and paid zero into social security. She gets a strait government pension.
She recently started collecting about $1400 a month from social security based on her husbands earning/contributions. Here is the kicker, the husband is still alive and collecting his social security. No wonder the system is going broke.
It's complicated. One, federal employees under FERS pay into a federal pension and pay into social security. Federal employees under CSRS only pay into a federal pension, so are ineligible for SS. I believe she can take 50% of his SS benefit depending on age. If she isn't FERS, then she wouldn't have been able to do that until just last year (see below).
The new law eliminated the GPO, government pension offset and the WAP, windfall elimination provision. GPO meant that if a surviving spouse who did not pay into social security but had their own government pension (state or local), then the social security survivor's benefit would be reduced or offset by the state/local pension. In other words, if the state/local pension is equal to or greater than the survivor SS, then they get nothing.
WAP reduces the first bend point in the SS security benefit for low wage earners who don't meet a mininimum annual income. They did this because low wage earners were seeing a higher percentage SS relative to their contributions compared to higher wage earners. 0- 20 years make bend point 0.4. It increases by 0.05 for each year thereafter and reaches the full 0.9 with 30 years of meeting the minimum. This also means that people who take a new job after retiring from state/local and meet the 40 quarters (10 years) of SS to qualify for social security got their SS benefit reduced.
Elminating both of these, while obviously not the sole cause of accelerating insolvency, will contribute to it.
Posted on 6/18/25 at 2:35 pm to Revelator
quote:
We will never fix any of our entitlements.
I don’t consider SS an entitlement.
SS is 100% an entitlement
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