Aces High Bulletin Board

General Forums => The O' Club => Topic started by: ra on February 25, 2004, 12:31:31 PM

Title: Another warning for youngsters
Post by: ra on February 25, 2004, 12:31:31 PM: http://www.msnbc.msn.com/id/4371103/

"Federal Reserve Chairman Alan Greenspan urged Congress on Wednesday to deal with the country’s escalating budget deficit by cutting benefits for future Social Security retirees."

It's gonna happen, so prepare to rely on your own personal savings for retirement. SSI was a huge Ponzi scheme, it's only a matter of time before benefits get trimmed back. Politicians will blow smoke up your arse, but there's nothing they can do to make ends meet, eventually they will have to cut payouts.

I read a little footnote on my Social Security statement, the one that estimates how much I'll be getting per month when I retire. It says something like "your actual monthly payment may be less. Congress can change payouts at any time, and Social Security reciepts are expected to be only 74% of payouts by 2042".

I've got a long way to go before I retire, but I'm glad I've been saving my own money instead of expecting Uncle Sam to pay for my cat food. I've already paid around $90K into Social Security and I'll probably wind up with a tiny monthly check from it when I retire. And the younger you are the more you'll get hosed.

ra
Title: Another warning for youngsters
Post by: gofaster on February 25, 2004, 12:54:21 PM: I'm going to sell my mom's body to science when she kicks and use the money to buy lottery tickets. That's my retirement plan.
Title: Another warning for youngsters
Post by: LWACE on February 25, 2004, 01:27:20 PM: funny, thats almost what i said when i was little and people asked me what i was gonna be. What are you gonna be? Oh me ima save up couple thousand spend it all on lottery tickets and just become a millionair, how bout you?
Title: Another warning for youngsters
Post by: Tarmac on February 25, 2004, 01:46:57 PM: Can we get rid of social security yet?
Title: Another warning for youngsters
Post by: Saurdaukar on February 25, 2004, 02:40:57 PM: Not if you want the senior citizen vote.
Title: Re: Another warning for youngsters
Post by: miko2d on February 25, 2004, 03:46:42 PM: ra: I've already paid around $90K into Social Security and I'll probably wind up with a tiny monthly check from it when I retire.

Most likely you will get a large check with many zeroes, which will buy you a loaf of bread or two.

miko
Title: Another warning for youngsters
Post by: 59bassman on February 25, 2004, 04:00:21 PM: America needs to do a better job of caring for its elderly.
Title: Another warning for youngsters
Post by: Sikboy on February 25, 2004, 04:18:44 PM: Quote
Originally posted by mrblack
America needs to do a better job of caring for its elderly.

Yes our current "Retirement Home" system is far too inefficient. We need to figure out how to stack them like cordwood.

-Sik
Title: Another warning for youngsters
Post by: Pooh21 on February 25, 2004, 04:40:59 PM: Retirement homes are cool, I always threaten my father in law to stick him in one of those evil old folks homes they show on 60 minutes,
Title: Another warning for youngsters
Post by: midnight Target on February 25, 2004, 04:41:31 PM: two words....

Soylent Green.
Title: Another warning for youngsters
Post by: Kanth on February 25, 2004, 05:05:08 PM: put them all in the same car, maybe one of them can figure out where the damn brake pedal is.
Title: Another warning for youngsters
Post by: sling322 on February 25, 2004, 09:39:34 PM: I'd rather have the old geezers find the gas pedal so they can quit slowing me down on the way to work every morning.