Quote:
Originally Posted by Riot
Social Security came into existence as people - even those who lived through the Depression and two world wars - didn't invest and plan for their own retirement. It came into being to save people's lives from starvation and homelessness.
That mindset - live for today, don't save - hasn't changed in the US, it's worsened (judging by amount of savings, bankruptcies, overspending and credit debt, etc)
Social Security in the government's hands cannot be invested as private funds can - a good thing, as 1/3 of the fund would probably be gone right now.
You (the general you, not you specifically) don't have to eliminate SS completely to invest in your own retirement. You should be able to take 10% out of your takehome no matter how small an income one makes (and can invest it so it becomes tax free, which markedly increases it's value). Depending upon social security to fund one's retirement is foolish, as even if you max out yearly on your contribution for 20 years, the amount you receive monthly isn't much.
If you don't already have a retirement account you currently pay into, you are way behind already, as the little bit of money you squirrel away in the low income early years of your career has the most growth upside just sitting there compounding for decades.
And if you think you are truly screwed then not already having retirement plans in place and actively being funded makes no sense at all to me.
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I do have a 401k that I pay into and my company matches, so I have NO clue where you pulled that last sentence out of.. (well I do have a clue)
Other people not planning for their own retirement is NOT my problem, nor do I care. Let them work til the die then. (I'm all for SS payments for the handicapped though, except for certain morons I know who are just not that smart and abuse it to get payments when they darn well can do hard labor) So I'm responsible, but I still have to lose 6% of my paycheck for people who arent responsible? If I knew I'd get back what I put in, I wouldnt have an issue. the absolute fact (and SS knows this - they sent me a letter) that I will get pennies back for what I put in for 55 years of work is what pisses me off. If I had the option, I wouldnt put a dime into SS and put that extra 6% into my 401k.
But seriously, where do you feel you have the right to assume things about my life like "And if you think you are truly screwed then not already having retirement plans in place and actively being funded makes no sense at all to me"
I'm being responsible and being screwed.. if you wonder why people get pissed at you.. just look at your unreasonable assumptions that are not based on anything. And why the heck should people who plan have to pay for the mistakes of people who arent smart about things? Thats where this country goes wrong.