I'm 23 and people my age have accepted that we'll get no pensions by the time we're ready to retire. I have an IRA and a 401k (TSP) from the military, and am about to get another through my current employer. I still worry about whether or not i'll be able to retire, because i'm not counting on Social Security to be there.
Politicians have been complaining about it for years, but no one seems motivated or capable of providing a permanent fix to this broken system. What gives?
I don't understand whats so hard to get. Just cut it off and let the dumb old fucks die in the streets.
If these old useless people (a) don't have kids that love them (b) never saved a dime...what can society as a whole do? There is no political system ever that can solve this problem.
The only politically correct solution is to create death camps but market as something positive (ie. call them Fusion Healthcare Centers). Just like they do with climate change, net neutrality, etc.
Children have to take care of their parents.
The only other possibility is starting a war.
Plan A won't happen because society is deranged.
No we dont, sole personal responsibility.
Rents can pay for themselves and I am glad Ryan is going to gut it like a Hillarry narrative.
Won't pass the Senate. Whatever Ryan does is just a shit show because he knows it won't pass the Senate.
Incentivize people to invest more in 401ks
And why not?
Are you telling me Ive been lied to and entitlements are good?
Or just Repubs lied for decades and I shouldnt beleive anything?
social security basically became an extra pool for politicians to fund their projects from... kinda sad, really, but it's been raided... basically the fiat currency system took the purchasing power of the money away.
Technically, I don't think that the social security system should exist, as it's just another tax, albeit a subtle and crafty one.
>Technically, I don't think that the social security system should exist, as it's just another tax, albeit a subtle and crafty one.
However, just dismantling it would cause more problems that it would solve, it needs to be reworked and gradually phased out... but that would only work if our economy recovers.
Yeah, avg dipshit has $600 in their checking account. After 30 years of great returns dipshit will retire with $1500?
Stop trying to engineer solutions that solve human stupidity. Nature has already done it far better than you. Let them die / ship them to other countries like Mexico does.
No.
The reason why the bill won't pass the Senate is that the Republicans have a slim 51/49 majority and Collins is out of any debate. You can't pass big bills which consist of taking money away without bipartisan support.
Won't happen, sorry user.
Should I move savings to checking to do that?
I keep everything in savings unless doing paypal.
My friend, the end of fiat currency is around the corner.
I have multiple union pensions and every quarter is more bad news.
Rich bankers are turning their soft shekels into hard assists at an alarming rate, the end is nigh.
The solution is a labor backed currency issued by a nationalized bank, with taking care of the elderly as part of its national strategy, so the young will get paid to take care of the old.
Honestly man just look what happened with bitcoin. Some kid with 1000 bucks couple years a go is basically a billionaire if they didn't sell. Now, you think that kid is thinking about social security and 401ks?
Fuck no. Neither should you. Go and increase your skills, save and invest in markets in which you are knowledgeable in, and before you know, you will be laughing for even thinking of touching SS to live.
Quick being a wagie slowmoney faggot -faggot.
Invest in evergreen businesses. I'll be 100% financially independent by 30, retired before I'm 35 (and be able to pay for my parents to retire).
People reliant on the government will be culled with Agenda 21.
I'm 21 making shit, I live on my own, pay all my bills (except health insurance) and I have several thousand in my 401k.
As I continue to make more money, more and more money will go into my 401k/retirement plan, by the time I'm in my mid 50s, I plan to retire to a comfortable life somewhere rural within driving distance of a big city where my kids live.
teach economics in high school.
I guess what I'm saying is this, our generation is convinced we won't get social security, it sucks but it's probably true, but because of that, I wouldn't be surprised to hear we are also saving more for retirement than any generation since the silent generation. Hard economic times make frugal people.
>How do we solve the Social Security question?
IF WE SHOULD CUT ALL OF IT THE FREE MARKET WILL MAGICALLY TAKE CARE OR EVERYTHING RIGHT?
>How do we solve the Social Security question?
socialism, that or get ready to work until you die
>I wouldn't be surprised to hear we are also saving more for retirement than any generation since the silent generation
oh sweetie
Yes.
Works everywhere else.
Whats a matter, not cum skin enough to be successful?
I mean Gen Z, the ones that grew up during the great recession like I did.
Its all related. SS was and is pumped so hard because (a) encourages people living in debt (b) discourages having kids.
Those things are cornerstones for socialist society. Kids are natures social security model.
Let the people who worked for it have their social security. Then cut taxes and stop giving big corporations huge bailouts and breaks. The government needs to STAY. OUT. of the free market. If a person wants to start a retirement fund, let them do it with the money they earn. The government does not know how to spend YOUR money better than you do.
It won't be fixed until the problems are felt much more.
Just like a broken immigration system.
gas the olds age war now
I doubt that's the source of your sweetieness.
You can save your money, but that means A) your money is in a bag somewhere in your house doing nothing and losing value as inflation goes up, B) your money is on a bank account and thus being spent by the bank on loans for other people while it loses value due to inflation.
If on the other hand you invest your money, you can make it earn you more money.
In the long run, it's better to buy stocks (cleverly, don't put all your money in one company) and risk losing some at the cost of earning a lot.
I will take care of myself and my family, including relatives & friends. None of them will go hungry or end up in a nursing home. Fuck everybody else.
The best way to prevent government from letting you down is to make sure you and nobody you care about needs it.
It was a commie that replied to me, who knows what they actually meant.
Also, 401ks generally go into stocks. I don't just have a bank account somewhere with all my money in it, I have stocks in the company I work for, that has done nothing but grow for the past 200 years, and a few other companies.
Worse comes to worse, I'll have my kids pay for a retirement home. I know it seems like a place to send your old people when you're sick of them, but it unironically seems pretty comfy.
Nice in theory, but he problem is the people who paid into it: their none is gone to people already dead. One generation is going to have to pay for two retirements, or (more likely) the concept of retirement was a short-lived idea based on a demographic surge enabled by a one-time exploitation of cheap oil extraction.
TL;DR: you’re working until you die.
But what if a couple didn't save as much because they were so giving to their family? Then what?
You can't take care of everyone you care about, or you just become the teet they are living off of instead of the government. You need to teach your kids to be self sufficient, you need to help your friends and family when you can, but don't give everything.
Well done.
I wouldn't chance it on my kids really.
There's no predicting what can go wrong despite the best efforts, so I'd feel more comfortable securing my own pension.
I hope it works out for you.
I repeat: The government does NOT know how to spend your money better than you do. If you want to retire, then save for it. The government has proven that they're not going to. So what am I paying for on my taxes? Social security is not going to get any better. It's only going to get worse. Let the people who bought into it get back what they paid. We can foot the bill for older people who are already on it and depend on it. But it needs to go.
Actions have consequences. This is not escapeable.
why don't you geta fucking job and save your money and support yourself until you die
>I'm 23 and people my age have accepted that we'll get no pensions by the time we're ready to retire.
The absolute STATE of Ameriland
You have kids that give to you. This is the fucking POINT of kids. Nature spent 4 billion years designing this shit...
It's too late. We had our chance to privatize and save it under bush. Now it's just a political landmine no one wants to deal with.
Fuck off, nigs are natural and better at it.
You gonna go black to be that, or be white and prove yourself.
separate bank account, savings, high compound interest, take s chunk of each paycheck and deposit it into said account. Repeat until retired
I was going to start a thread on Social Security myself. The whole thing is a big scam that doesn't benefit the people who pay into it at all. You pay the government now, then years later they pay you back less of what you put in because the value of the dollar has deflated by the time you can cash out. It was just a way for the government to milk money out of people because the retirement age was above the average life expectancy.
The only thing Trump can do to end Social Security while keeping liberals from totally losing their shit is to make it optional. Give people the option to opt-out (and maybe get a full refund) and it won't be long until Social Security dies.
Spread out the giving, obviously.
You can put $500k (example) into one child, or you can put $100k into five children.
The one child may succeed in life, but there's a chance he/she will be too preoccupied to look after you.
Five children however can become just as successful through vigor and merit, which you can (should) teach them.
They can then pool their resources and look after you.
That's how we've done it for millennia.
Tightly knit, massive families.
No reason to deviate, really.
Sadly boomers did. They were the first to, afaik.
Let me just tell you the government will steal from your savings to pay for others to live. Invest in gold? See what FDR did. The government will eventually be able to hack the alt currencies. Until the governments collapse and the cartel is dismantled, were all fucked.
50% buyout for all fucks over 55, it'll cost a couple hundred billion but it needs to happen.
Then you scrap it. If you paid in for a few decades tough shit. The Ponzi scheme must end
Who's your daddy?
whats an evergreen business
free markets btfo
At least I have CPP
CALLING ALL MUSLIMS ON Sup Forums i have 23 confirmed kills on muslim children and babies, lets have an AMA i want to throw acid on your ugly muslim mothers face while she jews bacon off my huge fat dick pisses on koran
Yea but you are Canada. So nobody cares.
Solution :
Remove social security and let employees and employers keep it and invest it themselves. Remove Medicare let employees and employers force the market to lower rates instead of getting govt subsidies.
Saves 7.6% of income for you
Saves 7.6% of your income for employer.
Precisely. I'm friends with a poor family that had 6 kids. Kids 1 - 5 are normal kids making normal wages. Kid 6 made $500M and now parents are set.
Jews got dumb fucks to stop investing in their own progeny and instead invest in Jew York companies.
How beauteous mankind is! O brave new world
That guy is so ignorant that he doesn't realize that SS has it's own separate revenue stream - eliminate the program, and you eliminate the revenue stream. This won't solve the huge deficit that Trump's tax break for rich merchants are creating.
>SS has it's own separate revenue stream - eliminate the program, and you eliminate the revenue stream
Which is?
>This won't solve the huge deficit that Trump's tax break for rich merchants are creating.
Who cares?