Social Security Benefits

[esun41]

I'm just shy of 37 years old.?? Anyone my age relying on jack diddly squat from social security is living in a dream world.?? Hell, anyone under 50 should be skeptical.

 

Enjoy the fruits of my labors in your later years...?? I won't.?? :\

221899[/snapback]

Thanks a million for your sacrifice Kenn...Me and the other "olde-timers" here will sure appreciate those checks every month when we're lying on the beach at Sanya and eating a platter of seafood every night...

 

Everyone worries about SS, but I think it will be there in some form far into the future. It's too important a cornerstone of our American system to let it die. What party would want that around their necks?

221975[/snapback]

 

 

and it's to much of a political football to take money out of the hands of those who have been expecting it (or at least paying into it) all their lives, and who see the older generations getting their share.

221976[/snapback]

Two very keen points gentlemen!!!

[skibum]

I elected to start taking SS at 62 as I retired at 54 and was not too worried about money. I almost did not make it to 65 so the decision looked real good and still does. A bird in the hand etc.....

I was not married when I made the decision but as she will try to get her 10 years of SS credits in and expects to have a good job, no problem there.

With no bills to pay, I can live on my SS alone, but I am not alone!!!

I have skied about 40-50 days a year, hiked many trails, and about killed myself on my Mt bike. I recommend early retirement and don't worry about missing your job as I loved mine but moved on without regret.

Perhaps everyone should get a good check up before making the choice.

[JamesnYuHong]

Social Security will be around ... the issue is a little overblown ... it may only be a percentage of what we're supposed to get, though; perhaps 70 to 80 percent.

[rogerluli]

she will try to get her 10 years of SS credits in and expects to have a good job, no problem there.

 

222125[/snapback]

While it is true that SS benefits take only 10 years to earn something...it is also true that your benefit is calculated on your 35 best years of earnings...so it seems to me that no matter how good 10 years are, if you average in 25 years of '0'...

 

The other thing to consider is INFLATION... SS benefits did not hold up well in our last spate of inflation in the US and earning power of seniors dropped considerably...and of course if you're going to go to China in retirement there is the $/RMB to worry about...

[Guest pushbrk]

she will try to get her 10 years of SS credits in and expects to have a good job, no problem there.

 

222125[/snapback]

While it is true that SS benefits take only 10 years to earn something...it is also true that your benefit is calculated on your 35 best years of earnings...so it seems to me that no matter how good 10 years are, if you average in 25 years of '0'...

 

The other thing to consider is INFLATION... SS benefits did not hold up well in our last spate of inflation in the US and earning power of seniors dropped considerably...and of course if you're going to go to China in retirement there is the $/RMB to worry about...

223641[/snapback]

While that is true, the scale stops at a maximum. It doesn't take a particularly substantial income to qualify for the maximum.

[skibum]

Roger, Push is right. I never worked 35 years! But what helped me was the lump sum buy out which took my average wage higher.

But, anyone is foolish to just plan on SS and nothing else.