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re: Will there be social unrest when monthly social security checks are cut by 22% in 2032?
Posted on 6/11/26 at 1:54 am to kywildcatfanone
Posted on 6/11/26 at 1:54 am to kywildcatfanone
quote:
If I take out at earliest age of 62, and invest all of it until 67, I'll come out ahead as long as I get at least 7.00% annual return.
This is my plan.
Your plan will fall apart .
How old are you ? If you’re late 50s , or early 60s now, then never mind, ignore what i said, you will be fine .. but im in my late 40s, my “plan” ideally would be to collect early at 62, in about 15 years from now, and since i already live overseas and will continue to do so- i will live, not ‘like a king’, but very comfortable I on only social security- though i will also have 401k, investments et al as a backstop… but there is no way in hell that the early collect age will be 62 by the time i get there.. as mentioned above, Gen X like myself will get completely screwed.. i guarantee they’ll raise the early collect age to 65 or 67 by then .. IF social security is even solvent .
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Posted on 6/11/26 at 2:37 am to HailHailtoMichigan!
The only thing that sucks about this is that i'm putting alot of money into something i'll never get back. If you plan on retiring and you're relying on SS, you fricked up.
Posted on 6/11/26 at 3:37 am to BrianKellysbuyout
quote:
If you plan on retiring and you're relying on SS, you fricked up.
I dont understand why people in this thread keep saying this… NO ONE said anything, in the OP or anywhere else, that anyone plans to retire on only social security.. so why do yall keep repeating that tired answer to a question that literally no one asked, or even implied ??
For the umpteenth time, all any of us want is to receive what we were promised ever since we started paying into the system , not an “entitlement”, but what we paid out of our paychecks, most of us starting in our teens, with the promise that it would eventually help us to supplement our retirement .. or at least to recoup some of what we paid into it.. aint nobody said that SS is their retirement plan … yet, there will be some other bottom-feeder coming along soon in another post stating something to effect of “OMG !! Yall shoulda not planned to retire on social security !!11!!”
Posted on 6/11/26 at 6:12 am to HailHailtoMichigan!
quote:
Will there be social unrest when monthly social security checks are cut by 22% in 2032?
They won’t be.
They’ll just borrow more. And don’t be surprised if they start means testing for ss benefits. That’s why I took early payments at 63; I expect mine to get cut off completely in about six years.
Posted on 6/11/26 at 6:34 am to SparkyWilson
Im pretty sure he was just being sarcastic.
I dont think avocado toast is a stereotypical boomer thing.
As an aside, and not directed at you, but do people still think Bush used political connections to get into the Texas National Guard in 1973?
I dont think avocado toast is a stereotypical boomer thing.
As an aside, and not directed at you, but do people still think Bush used political connections to get into the Texas National Guard in 1973?
Posted on 6/11/26 at 6:39 am to Marlboro Smooth
quote:
Boomers will just have to cut back on their avocado toast and daily coffee. Tough it out.
If they want to survive they can pull themselves up by their bootstraps
For the most part boomers will be gone by then. Cut back on your tats and piercings.
Posted on 6/11/26 at 7:01 am to HailHailtoMichigan!
They really need to phase this out.
I’ve said it before, but I would gladly walk away from what I have paid in to stop paying. Or even pay less over time. Some people genuinely rely on this income, I sure as hell don’t want to be stressed every few years that it may be cut. Then you have older people that so firmly say “it’s my money! Pay me back” without any regard to how keeping it going affects current taxpayers and younger generations. People in the middle of their careers have heard they won’t get shite when it’s their turn their entire lives. It’s a failed program, phasing it out makes the most sense.
With the economics being flipped with lower birth rates in younger generations, it’s actually feasible.
That said, FICA is the government’s cash flow, they would rather do monetary gymnastics indefinitely than give it up.
I’ve said it before, but I would gladly walk away from what I have paid in to stop paying. Or even pay less over time. Some people genuinely rely on this income, I sure as hell don’t want to be stressed every few years that it may be cut. Then you have older people that so firmly say “it’s my money! Pay me back” without any regard to how keeping it going affects current taxpayers and younger generations. People in the middle of their careers have heard they won’t get shite when it’s their turn their entire lives. It’s a failed program, phasing it out makes the most sense.
With the economics being flipped with lower birth rates in younger generations, it’s actually feasible.
That said, FICA is the government’s cash flow, they would rather do monetary gymnastics indefinitely than give it up.
Posted on 6/11/26 at 7:03 am to HailHailtoMichigan!
The national debt will be inflated away. Don’t worry about SS being reduced or insolvent.
Posted on 6/11/26 at 7:06 am to OceanMan
quote:
That said, FICA is the government’s cash flow, they would rather do monetary gymnastics indefinitely than give it up.
That is because other income based taxes have so many loopholes or gets returned at cash benefits like the earned income tax credit and child tax credits. Many individuals including immigrants get thousands of dollars back, and pay zero in income taxes.
Posted on 6/11/26 at 7:22 am to Ingeniero
quote:
Boomers will just have to cut back on their avocado toast and daily coffee. Tough it out
What a nice person you seem to be. I bet you’re just a joy to be around.
Bless your empty soul.
Posted on 6/11/26 at 7:35 am to Ingeniero
You, sir, are an idiot. Oh, and you're also a stupid, brain washed sheeple.
Posted on 6/11/26 at 8:49 am to BK Lounge
quote:That post definitely shows that you feel “entitled” to it.
For the umpteenth time, all any of us want is to receive what we were promised ever since we started paying into the system , not an “entitlement”
Seems like an entitlement.
And, again, you were lied to.
Glad to see that you want to force your kids and grandkids to continue living that lie, rather than taking the hit for the betterment of your offspring.
Expected from you greedy boomers though. No one is surprised anymore.
quote:Why do you need a supplement?
with the promise that it would eventually help us to supplement our retirement
You should have planned better or you should pick yourself up by your bootstraps.
quote:You should have planned as if the money wouldn’t exist (which it doesn’t) like every other generation.
there will be some other bottom-feeder coming along soon in another post stating something to effect of “OMG !! Yall shoulda not planned to retire on social security !!11!!”
But, then again, you feel “entitled” to this entitlement.
This post was edited on 6/11/26 at 8:49 am
Posted on 6/11/26 at 9:02 am to Scruffy
quote:
You should have planned as if the money wouldn’t exist (which it doesn’t) like every other generation.
But, then again, you feel “entitled” to this entitlement.
If I have $10M in the bank, should I not want my social security money?
If this is what you think, I have bad news for you.
I’ve been paying in for 40 straight years. Will take it at 62, and gladly cash every single check.
Posted on 6/11/26 at 9:06 am to Grinder
quote:Your social security money doesn’t exist anymore.
If I have $10M in the bank, should I not want my social security money?
They stole it from you to pay the older retirees.
You just have to keep stealing it from your kids and grandkids.
Glad to see you are cool with that.
quote:Kick the can further down the road.
I’ve been paying in for 40 straight years. Will take it at 62, and gladly cash every single check.
Whatever keeps you feeling entitled.
This post was edited on 6/11/26 at 9:07 am
Posted on 6/11/26 at 9:15 am to Scruffy
quote:
Expected from you greedy boomers though.
Tells me all i need to know about you.. im a Gen X guy who first started paying into SS in the year 1993, when i was 14 years old .. but by all means, go ahead and continue to assume things you literally have zero idea about , just b/c you are convinced that they reinforce the dumbass narrative in your head .
Posted on 6/11/26 at 9:15 am to Scruffy
quote:
Kick the can further down the road.
Whatever keeps you feeling entitled.
One question.
Do you (or will you) reject any social security payments you receive, and return the money to the US Government?
Posted on 6/11/26 at 9:23 am to Grinder
quote:I would pay SS for 50 years and never accept a dime if it meant my children never have to pay into it.
Do you (or will you) reject any social security payments you receive, and return the money to the US Government?
Since the largest generation in US history will not join the rest of the US population in abolishing it, we are currently screwed.
If, and that is a huge IF, it even still exists when I reach retirement age (hopefully as boomers die off, we can finally correct this mistake) and there is money actually dispersed, it will be a given directly to my children since it was money stolen from them.
This post was edited on 6/11/26 at 9:25 am
Posted on 6/11/26 at 9:24 am to BK Lounge
quote:Even worse.
Tells me all i need to know about you.. im a Gen X guy who first started paying into SS in the year 1993, when i was 14 years old .. but by all means, go ahead and continue to assume things you literally have zero idea about , just b/c you are convinced that they reinforce the dumbass narrative in your head .
You are supposed to be smarter than them.
Here I was, hoping that Gen X wasn’t as broken as the boomers.
Yeesh.
Posted on 6/11/26 at 9:34 am to Scruffy
quote:
I would pay SS for 50 years and never accept a dime if it meant my children never have to pay into it.
So the answer is No.
You will receive and use that money just like everyone else.
Nice waffling there, Clown!
Posted on 6/11/26 at 9:42 am to Grinder
quote:I said I would give it to my children since it is their money, not mine.
So the answer is No.
My money was stolen and given to you.
Why can’t you read?
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