Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Social Security News Today - 06-28-05...................
Old 06-28-2005, 08:03 PM   #1
 
Posts: n/a
Social Security News Today - 06-28-05...................

No Social Security News today, we're still fighting the War in Iraq. We're busing changing the reason we went to war from "finding the WMD's" to "something else"?

So all those that were positive we'd have a S.S. Bill that included private accounts on the White House desk in 2005; How's it lookin' to you now? Are you betting by summer or fall or a cold day in hell?

If he walks like a duck, and he quacks like a duck....................
__________________
  Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Social Security News Today - 06-28-05...................
Old 06-29-2005, 07:15 PM   #2
Full time employment: Posting here.
 
Join Date: Nov 2002
Posts: 768
Re: Social Security News Today - 06-28-05...................

It looks like you were right.
__________________

__________________
Michael is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 08:02 AM   #3
Thinks s/he gets paid by the post
Eagle43's Avatar
 
Join Date: Jan 2005
Location: DFW
Posts: 1,879
Re: Social Security News Today - 06-28-05...................

Yeah, C-T, looks like you're right. My first check is due in 24 days. I'll just add it to the others and hopefully, live happily ever after.
__________________
Resist much. Obey Little. . . . Ed Abbey

Disclaimer: My Posts are for my amusement only.
Eagle43 is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 08:09 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Dec 2002
Posts: 3,875
Re: Social Security News Today - 06-28-05...................

One year, 2 months and 12 days....................

JG
__________________
MRGALT2U is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 09:40 AM   #5
 
Posts: n/a
Re: Social Security News Today - 06-28-05...................

You guys over 55 don't have much to worry about, since they say that they won't change anything for you. It's us SS Tweeners that are concerned. Too young to have our benefits frozen, but too old (or too retired) to take advantage of a potential private account scheme (though I don't think PAs will happen).

__________________
  Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 03:10 PM   #6
 
Posts: n/a
Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by TromboneAl
You guys over 55 don't have much to worry about, since they say that they won't change anything for you.* It's us SS Tweeners that are concerned.* Too young to have our benefits frozen, but too old (or too retired) to take advantage of a potential private account scheme (though I don't think PAs will happen).

Al,

Speaking with a friend of mine that is a Congressman, his belief was that when a bill is finally crafted, It probably won't change much for those over age 45. His guess was that it will look similar to the 1983 Bill, where tweaking was done in a few areas. Gradually Increasing retirmement age, increasing or removing the $90K cap, and small reductions in benefits. These will be passed on to those younger than 45 in all likeyhood. This was similar to what happened in 1983 when I was 32. My retirement age was increased, my taxes increased etc.

The main problem with Private Accounts was that it made the Social Security 'problem' worse. It was never about saving it, it was about dismantling it.
__________________
  Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 03:15 PM   #7
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Re: Social Security News Today - 06-28-05...................

Well crap, at this point maybe I should completely eliminate SS from my calculations. At this rate it you will have to be 75 to collect when I get there, and that will (hopefully) be 30 years after I retire! But they didn't change the early SS collection yet (62), how long will that go unnoticed?
__________________
laurence is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 03:32 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Social Security News Today - 06-28-05...................

I dont include social security or pensions in any of my calcs. Those are just gonna be gravy if and when they show up.

CT...any chance of having that congressman friend of yours hold off on changes until I'm 45 next year? :P
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 06:27 PM   #9
Full time employment: Posting here.
 
Join Date: Nov 2002
Posts: 768
Re: Social Security News Today - 06-28-05...................

Quote:
But they didn't change the early SS collection yet (62)...
Actually, they did.* People who have to wait longer to get full Social Security can still retire early at 62, but they are charged a greater penalty than those who could retire on full SS at 65.* IOW, someone who can only get full SS at 67 has their monthly check dramatically reduced if they take it at age 62.* Its designed to give the average person the same total life time pay out.

I hope CT is right about the age 45 thing, since I am over that age.* Although I would much rather be age 25, and just stay there forever.*
__________________
Michael is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 06:53 PM   #10
Full time employment: Posting here.
 
Join Date: Jan 2004
Posts: 844
Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by Laurence
Well crap, at this point maybe I should completely eliminate SS from my calculations.* At this rate it you will have to be 75 to collect when I get there, and that will (hopefully) be 30 years after I retire!* But they didn't change the early SS collection yet (62), how long will that go unnoticed?
This wouldn't be so hard to swallow if they also raised the government employee retirement age to make it at least somewhat fair...still, in many places, govt employees can retire as early as 45 or 50 with a pension and guaranteed health insurance for life...so the average private sector employee needs to works something like 20 more years than a govt employee in order to be able to qualify...sound fair to anyone?
__________________
farmerEd is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 07:02 PM   #11
Recycles dryer sheets
 
Join Date: Oct 2003
Posts: 175
Re: Social Security News Today - 06-28-05...................

If the SS age is raised to 67, does that also mean that Medicare does not kick in until then? I am more concerned about health care than the few hundred bucks I might (not) get

Vicky
__________________
vic is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 07:07 PM   #12
Thinks s/he gets paid by the post
 
Join Date: Dec 2002
Posts: 3,875
Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by farmerEd
This wouldn't be so hard to swallow if they also raised the government employee retirement age to make it at least somewhat fair...still, in many places, govt employees can retire as early as 45 or 50 with a pension and guaranteed health insurance for life...so the average private sector employee needs to works something like 20 more years than a govt employee in order to be able to qualify...sound fair to anyone?
"Fair?" Of course not. Surprising? Not at all. If you are looking for
fairness in your treatment re. these issues, you are doomed to disappointment. Look out for yourself. No one else really gives a damn.

JG
__________________
MRGALT2U is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 10:07 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Social Security News Today - 06-28-05...................

All I know is somebody must be a Flip Flopper!

Or its got something to do with the events of 9/11.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 10:25 PM   #14
Full time employment: Posting here.
 
Join Date: Nov 2002
Posts: 768
Re: Social Security News Today - 06-28-05...................

Quote:
If the SS age is raised to 67, does that also mean that Medicare does not kick in until then?
So far Medicare is still age 65 for everyone.
__________________
Michael is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 06-30-2005, 11:47 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,380
Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by farmerEd
This wouldn't be so hard to swallow if they also raised the government employee retirement age to make it at least somewhat fair...still, in many places, govt employees can retire as early as 45 or 50 with a pension and guaranteed health insurance for life...so the average private sector employee needs to works something like 20 more years than a govt employee in order to be able to qualify...sound fair to anyone?
Probably sounds perfectly fair to a government employee. Maybe they would like it a bit more if private sector employess had to work 25 years longer rather than only 20.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 07-01-2005, 04:03 AM   #16
Recycles dryer sheets
 
Join Date: Mar 2005
Posts: 79
Re: Social Security News Today - 06-28-05...................

Quote:
This wouldn't be so hard to swallow if they also raised the government employee retirement age to make it at least somewhat fair...still, in many places, govt employees can retire as early as 45 or 50 with a pension and guaranteed health insurance for life...so the average private sector employee needs to works something like 20 more years than a govt employee in order to be able to qualify...sound fair to anyone?
Heh, working for the gub'ment has always been about the benefits, never the pay while employed. That's where things are supposed to even out. We suffer and scrounge during our working years, just hoping to make it to retirement to collect our benefits.

Bookm
__________________
Bookm is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 07-01-2005, 06:18 AM   #17
Thinks s/he gets paid by the post
 
Join Date: Dec 2002
Posts: 3,875
Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by Bookm
Heh, working for the gub'ment has always been about the benefits, never the pay while employed. That's where things are supposed to even out. We suffer and scrounge during our working years, just hoping to make it to retirement to collect our benefits.

Bookm
The benefits can be nice. In my case I always knew I could not work
for the government. Being a natural entreprenuer and anti-government
to boot..........well, it would not have worked out. Hell, I was lucky to
not discover my entrepreuerial inclinations until pretty far into my career.
Otherwise, I would have had even more trouble working for others.
As it was, my longest stint (one company) was 8 years, from age
21 to 29. Nothing else even close to that before I quit for good.

JG
__________________
MRGALT2U is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 07-01-2005, 06:58 AM   #18
Thinks s/he gets paid by the post
BUM's Avatar
 
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,778
Re: Social Security News Today - 06-28-05...................

Mornin' JG

I'm with you on this one. Pension, schmension. Not sure entreprenurialism was a destiny probably a destination. I just arrived there. But now that my friends, neighbors, and I am getting used to my retirement one thing really gets my attention. Many of my associates are:

Working and hating it - they don't want to understand my situation
Out on some disability - they can't believe its possible I'm retired
Retired w/ pensions - they are nice, friendly but, well... old.

There but for the grace of God, go I. Just out of college, I applied for jobs with the local phone company and post office. Everybody did. Thats what was expected. Didn't get hired.


__________________
In a panamax down by the river.
BUM is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 07-01-2005, 08:07 AM   #19
Thinks s/he gets paid by the post
Eagle43's Avatar
 
Join Date: Jan 2005
Location: DFW
Posts: 1,879
Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by BUM

Retired w/ pensions - they are nice, friendly but, well... old.
I resemble that remark.
__________________
Resist much. Obey Little. . . . Ed Abbey

Disclaimer: My Posts are for my amusement only.
Eagle43 is offline   Reply With Quote
Re: Social Security News Today - 06-28-05...................
Old 07-01-2005, 09:38 PM   #20
Full time employment: Posting here.
 
Join Date: Nov 2002
Posts: 768
Re: Social Security News Today - 06-28-05...................

Actually, the fact that there are so many government employees is a prime reason private sector employees have to work so long in the first place.* High taxes (income, sales, property, excise, etc...) increase the cost of living, which makes saving by private employees harder.* Add the fed's constant inflation policy to the high cost of living, and you have a recipe for many more years in the work force.

In addition, excess government spending is the prime reason there is nothing but IOUs in the Social Security trust fund.* The politicians "borrowed" the trust fund to pay the salaries of government employees.** Then some government employees have the temerity to lobby against making private sector pension plans solvent, and against paying back the trust fund.* Government spending is out of control, at all levels, and private sector employees have to pay a high price for it.

I wouldn't be surprised if private sector employees rebelled when asked to bail out the many insolvent state and local government pension plans, after government workers lobbied against private sector bail outs. Unless they become a bit more sympathetic to private sector employess before then.
__________________

__________________
Michael is offline   Reply With Quote
Reply

Tags
social security


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Play the Social Security Game REWahoo FIRE and Money 46 07-25-2007 04:32 PM
Maximizing Social Security Benefits eyenitnoy FIRE and Money 20 06-18-2006 09:29 PM
Social Security assumptions Red_y FIRE and Money 10 08-26-2005 11:24 AM
Bogle on Social Security Reform Eagle43 FIRE and Money 22 02-26-2005 08:18 PM
Social Security estimate now vs. actual Telly FIRE and Money 8 05-15-2003 03:56 PM

 

 
All times are GMT -6. The time now is 02:52 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.