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Finally using consumption in retirement calculations.
Old 08-02-2011, 07:15 AM   #1
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Finally using consumption in retirement calculations.

Finally somebody has given the light on Yahoo Finance to tell the true story of what is needed for retirement

retirement-savings-crisis-overblown-marketwatch: Personal Finance News from Yahoo! Finance
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Old 08-02-2011, 07:23 AM   #2
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Well, the further I got in this article the worse it seemed. It took a complete turn and basically said that Social Security needs to be means tested and the those that have saved should be subsidizing those that didn't or were poor. Sorry for making you read this drivel.
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Old 08-02-2011, 07:25 AM   #3
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Thread on this article posted here: Is the retirement savings crisis overblown?
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Old 08-02-2011, 07:28 AM   #4
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For the same reasons that people want to raise the taxes on the rich (they have more so should pay more) they will want to means test SS (They have more so don't need SS). You already see articles talking about why the rich get SS, it will just come down to what the define as "rich".

I believe that if you are 45 or younger you will not see SS if you have money in the bank.
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Old 08-02-2011, 10:06 AM   #5
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I believe that if you are 45 or younger you will not see SS if you have money in the bank.
Unless you a multi-millionaire I don't think you have to worry, HOWEVER, I do believe they'll start treating SS as normal income, ie no 50% or 85% fudge factors. So you'll get it, but we're going to have to give more of it back.
TJ
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Old 08-02-2011, 10:41 AM   #6
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For the same reasons that people want to raise the taxes on the rich (they have more so should pay more) they will want to means test SS (They have more so don't need SS). You already see articles talking about why the rich get SS, it will just come down to what the define as "rich".
Anyone who has more than me.
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Old 08-02-2011, 11:00 AM   #7
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Originally Posted by RetirementColdHardTruth View Post
Well, the further I got in this article the worse it seemed. It took a complete turn and basically said that Social Security needs to be means tested and the those that have saved should be subsidizing those that didn't or were poor. Sorry for making you read this drivel.
Eventually that will be where it will go. Current population trends are not supporting the viability of Social Security. As such, it will have to be made available only to those who need it. While I'm all for helping out the poor, you can't change the rules in the middle of the game. If you want Social Security to get back to the safety net for it once was, interim steps will be necessary. Raising the elibility age is the easiest.
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Old 08-02-2011, 11:49 AM   #8
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Eventually that will be where it will go. Current population trends are not supporting the viability of Social Security. As such, it will have to be made available only to those who need it. While I'm all for helping out the poor, you can't change the rules in the middle of the game. If you want Social Security to get back to the safety net for it once was, interim steps will be necessary. Raising the elibility age is the easiest.

Not unless you are the US Government.
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