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Finally using consumption in retirement calculations.
08-02-2011, 06:15 AM
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#1
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Recycles dryer sheets
Join Date: Jan 2011
Location: Marietta
Posts: 117
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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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Give me a surfboard and a hammock, some fresh fruit and veg, a fish or two and I am happy for life. I don't need much of a roof over my head to be happy.
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08-02-2011, 06:23 AM
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#2
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Recycles dryer sheets
Join Date: Jan 2011
Location: Marietta
Posts: 117
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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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Give me a surfboard and a hammock, some fresh fruit and veg, a fish or two and I am happy for life. I don't need much of a roof over my head to be happy.
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08-02-2011, 06:25 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Numbers is hard
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08-02-2011, 06:28 AM
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#4
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Full time employment: Posting here.
Join Date: Jan 2011
Location: Southern Maine
Posts: 672
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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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08-02-2011, 09:06 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,691
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 Quote:
Originally Posted by ChiliPepr
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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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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08-02-2011, 09:41 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Quote:
Originally Posted by ChiliPepr
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".
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Anyone who has more than me.
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Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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08-02-2011, 10:00 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Posts: 1,719
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Quote:
Originally Posted by RetirementColdHardTruth
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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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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He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
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08-02-2011, 10:49 AM
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#8
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Quote:
Originally Posted by Jay_Gatsby
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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Not unless you are the US Government.
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Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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