Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 05-30-2008, 08:47 PM   #41
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,151
Quote:
Originally Posted by rmark View Post
SS estimates it can pay 74% of benefits at mid cost projections. Using SS low cost projections, 100% of benefits can be paid, with past costs being closer to low than mid costs.

Personally, I assume SS is a fixed pension after medicare B, with rising medicare B costs 'absorbing' the inflation adjustment.

The Bruce Web has several essays on SS
But that doesn't mean that everyone will get 74% of what they were originally promised. Those who have no other assets may very well get 100%, while frugal people who have saved a decent nest egg on their own may get zero. I believe that means testing is inevitable and have made my retirement plans accordingly (i.e - I assume I will get zero from SS. Anything I get will be gravy)
__________________

__________________
Living an analog life in the Digital Age.
Gumby is online now   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!

Old 06-03-2008, 10:59 AM   #42
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
Quote:
Originally Posted by Gumby View Post
But that doesn't mean that everyone will get 74% of what they were originally promised. Those who have no other assets may very well get 100%, while frugal people who have saved a decent nest egg on their own may get zero. I believe that means testing is inevitable and have made my retirement plans accordingly (i.e - I assume I will get zero from SS. Anything I get will be gravy)
I suspect you're right, but I think it's a mistake to discourage people from saving for their own retirement. People are bad enough about saving as it is without the government convincing them that NOT buying that big new car or NOT taking that big, expensive vacation will mean losing their Social Security.

Better to further increase the full-benefit retirement age, IMO, gradually increasing it to 70.
__________________

__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Reply


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
The Young and the Reckless tozz FIRE and Money 3 06-21-2005 06:38 PM
Why retire young? Austin_Explorer Young Dreamers 5 05-06-2005 04:59 PM
32 years young... tokyojoe Hi, I am... 2 03-09-2005 02:39 PM
Young Dreamer Daddy Hi, I am... 7 06-12-2003 10:09 AM

 

 
All times are GMT -6. The time now is 11:17 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.