Retire at age 70?
gimmesometruth27
St. Fuckin Louis Posts: 23,334
John Boehner recently said we should raise the retirement age to 70, meaning that workers will not be eligible for social security until age 70. so instead of raising payroll taxes to pay for it we should make everyone work an extra 5 years before being eligible to receive benefits?? IMO this will lead to a whole host of problems.
1. most 70 year olds are not physically capable to work labor and difficult jobs. deskwork and jobs where they use their minds, yes, but how many 65 year old laborers do you see? it is proven fact that your body starts to break down and things like decreased strength and osteoarthritis begin to take their toll on the body. i see 70 year old patients every day and i just think to myself "there is no way this guy can continue to work".
2. with the younger generations of workers not able to find work, why make those age 65 continue to work and take up those jobs?
3. life expectancy is about 75 years old, so the longer that people work the less time they are on social security. if this is the rationale for extending retirement age, i completely disagree with it. we all pay into SS so that we can benefit from it.
i have a few other thoughts on this but lack the time to type them right now.
what are your thoughts on extending the retirement age?
1. most 70 year olds are not physically capable to work labor and difficult jobs. deskwork and jobs where they use their minds, yes, but how many 65 year old laborers do you see? it is proven fact that your body starts to break down and things like decreased strength and osteoarthritis begin to take their toll on the body. i see 70 year old patients every day and i just think to myself "there is no way this guy can continue to work".
2. with the younger generations of workers not able to find work, why make those age 65 continue to work and take up those jobs?
3. life expectancy is about 75 years old, so the longer that people work the less time they are on social security. if this is the rationale for extending retirement age, i completely disagree with it. we all pay into SS so that we can benefit from it.
i have a few other thoughts on this but lack the time to type them right now.
what are your thoughts on extending the retirement age?
"You can tell the greatness of a man by what makes him angry." - Lincoln
"Well, you tell him that I don't talk to suckas."
"Well, you tell him that I don't talk to suckas."
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At the rate we're going, they may as well make it 115. I'm not trying to be a smartass, but that is the reality of the situation in which we are quickly finding ourselves.
Having people in the workforce longer would allow more income tax revenue to be taken in by the government allowing us to (assuming we cut spending as well) decrease our deficit.
As the market recovers (and it is recovering) more jobs will appear and any worry about old people taking up young peoples jobs will disappear.
In my opinion we should do away with social security altogether and just let people do what they want with their money. Whether they want to put some away for retirement or not is, I believe, their decision.
If people prepare for their old age in this country they pay for it further down the line...making people work until they are 70 isn't right...would you feel safe on seeing a 70 year old fireman arriving at the window of your burning house to carry you down his ladder?
My brother, for example, retired from the Air Force at 20 years, is now working for The DoD (Fire Chief at an AF base) collects 50% of ending pay from AF(could be more as its a scale based payout depending on length of service) for retirement and earns his regular pay as a Fire Chief(civilian). This double dipping is rampant throught many fields.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
people are going to continue to live longer. If we want to keep social security as an option we will need to up the age among other things. Paying more into it will not solve the problem only delay it.
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
people who are smart with their money have paid just as much into social security as anyone else and should be entitled to their benefits. By the way, Blessed is a bad word choice. people with good jobs for the most part have worked hard to get there. Why should they be punished because they were smart with their money? They may not "need" it in your eyes, but it is their money, they paid it in, so they should get it out
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
Godfather.
http://www.foxnews.com/politics/2010/07 ... y-tuesday/
Godfather.
Personally I've thought for a long time(20+ years) now that I will never see this benefit. What I pay in now is going to my mother and before her my grandmother.So I've resigned myself to the fact that I will work til I croak.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
I'm assuming it has something to do with social security, but if anyone on this board is counting on social security to fund their retirement, they are going to find themselves in a world of hurt.
I'm saving for my own retirement and will retire when I think I can pull that off. It might be 50, 55, 60, 65.....who knows?
The other thing is, I doubt I will ever stop working/being productive entirely. I like the idea of having a reason to get up in the morning and being beneficial to someone or something.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
That's true and I think it's determined by either state law or in the absence of that, municipal contract. My husband is a firefighter and will have to retire at 65. Same goes for police officers in my community. The mandatory retirement age for state troopers in Massachusetts was age 50 for a long time, I'm not sure if that changed after they merged with the Metropolitan District Commission police force several years ago.
I guess lots of folks want to work until they are 70...
Personally, I think they should lower the retirement age to 60...
Government Dime...?
anyway...having folks in the workforce longer will mean there will be less jobs for those entering the workforce...
anyway, yeah, let's do away with SS altogether...to hell with those who've paid into it...screw anyone over age 50...those f-ers should have been saving...
he couldnt be younger than 70-something.
my heart always breaks for him........
there in lies the problem. SS was intially set up as a need based thing.In fact most forms of gov handouts(for lack of a better term) are in fact need based. To apply for this when it's not needed to get by every month smacks of greed and selfishness.
Personally I've thought for a long time(20+ years) now that I will never see this benefit. What I pay in now is going to my mother and before her my grandmother.So I've resigned myself to the fact that I will work til I croak.[/quote]
how on earth is it greed? It is a program that all americans are entitled too based on age specifications and other issue, like mental and physical disabilities.
I would much prefer that we don't pay any into social security anymore. Or if they are going to force it on us, we should only get out what we put in
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
I am tempted to here insert the famous Keynes quote "In the long run we are all dead".
"Delaying" isn't necessarily bad. You might say that everything we do just delay the inevitable...
In your case, I don't think the legal retirement age needs to go so much up. It's the real retirement age that matters, on other words, on average how old are people when they retire? I'm betting a lot lower than 65. So introducing incentives for 60+ people to stay working might be a way to go. That's what Norway is doing now, experimenting with having people being able to get their pension AND make money on the side. But we have a shortage of labour now that is only going to get worse in the future, so we really need everyone to stay in as long as possible, even if it looks costly on the budget. Socio-economically it may still be a gain in the big picture.
Peace
Dan
"Every judgment teeters on the brink of error. To claim absolute knowledge is to become monstrous. Knowledge is an unending adventure at the edge of uncertainty." - Frank Herbert, Dune, 1965
Godfather.
in unions and larger companies as most of you probably know retirement is based on credits or years of service
so if you don't work you don't get a retirement check,SS seems to make the rules up as they go along.
Godfather.
haha. It's the Mexicans fault!
Except when it comes to driving.
Hail, Hail!!!
actually I wonder where NObama keeps getting the money to spend since he's bullshitted his way into office.
Godfather.
The most basic and primitive tribes treated their elderly with respect and valued their wisdom. The tribe took care of their elderly, provided food and water and shelter, and the elderly had the most decision-making power for the tribes. Once you couldn't hunt any longer/take care of children/cook/etc... you were taken care of by the younger tribesmen and women.
Today, our elderly are working into their 60s/70s and sometimes longer, they are neglected, they are put into old person asylums and never visited, and they rot away in a bed with noone who cares for them except a nurse tech who changes their bed pan and feeds them a meal.
This disgusting situation is obviously regressive. We have lost our way as a society if we can put chunks of metal into space every day but forget to take care of our elderly and provide for them as a "tribe."
so if the retirement age goes to 70, where do you cut people off from the age 65 eligibility? i'm 35 and i am planning on working another 26-30 years. if someone told me i would have to wait til 70 for medicare and SS i would be extremely pissed because i have been paying in since age 16. do we say people born after 1990 have to wait until 70? do we make it later than that or sooner than that? those born in 1990 are 20 now and may have been paying intot he system for 3-4 years. it would not be fair to them to make them work longer for the same benefits the rest of us are entitled to.
it is a convenient argument to state that "people should be saving more"....as if people choose not to save money for retirement...has anyone noticed that cost of living is going up and that wages for those of us lucky enough to have a job are stagnant yet again? home values are down and people have more debt now. people in their 50s, 60s and 70s used to be guaranteed pensions, now the younger workers are forced into 401ks, 403 bs, whatever, and are losing their ass without employer matching and most saving accounts yield only 2-4% interest, so any money that is actually saved accrues at a VERY slow pace. our seniors have been taken advantage of, reverse mortgages, etc..if you work your whole life and pay into social security it should be of paramount importance to get out of it what you have paid into it.
"Well, you tell him that I don't talk to suckas."
Peace
Dan
"Every judgment teeters on the brink of error. To claim absolute knowledge is to become monstrous. Knowledge is an unending adventure at the edge of uncertainty." - Frank Herbert, Dune, 1965
"Well, you tell him that I don't talk to suckas."
You need to set up your own accounts and not depend on the government to help. Because if you do rely upon them you may be working forever.
Peace
Dan
"Every judgment teeters on the brink of error. To claim absolute knowledge is to become monstrous. Knowledge is an unending adventure at the edge of uncertainty." - Frank Herbert, Dune, 1965