We need more young people with his attitude. If I was young again I'd run my finances as though there were no government entitlement programs. I finally did but by then I was in my 40s.
Are you trying to say that an individual is incapable of making the necessary financial decisions over the course of their life in order to be able to support themselves adequatly when they retire? Is the only solution for the wise and benevolent national governmnet to siphen money away from their paychecks (which goes to those who are currently at the retirement age) so that when the individual finally gets to retirement age the government will say "Don't worry, there's plenty of young workers who will contribute money to you so go ahead, spend, spend, spend. There's always more money that we will give to you", (which is taken from the young). I don't like this system. I can take care of myself. Everyone else is on their own. I have no sympathy for those people who do not make good financial decision over the course of their lives and consequently must depend on money coming from other peoples' paychecks.
No, I don't say that at all. I'm saying that every young person expects to achieve his dreams, but it almost never works out that way. You can't deny that there are millions of Americans who have worked hard all their lives and still have to rely on SS when they can no longer work. It could happen to you. What a strange concept of what SS is. Listen, social security is not a lot of money. The average SS check is $1,177 a month. Nobody expects to live well on that and everybody needs to save for retirement. SS is a safety net that offers subsistence money. Nobody like it, but there is no replacement system available. I asked asked SabanFan. Not on a dollar over minimum wage, you can't. How much do you put in you savings account each payday? How much did you put in your IRA last year? You are going to advance and make a whole lot more some day. But a lot of hard-working people are never going to make high enough wages to save significantly. 100% of their income goes to basic necessities. I don't have much sympathy either. But I'm not so foolish as to think that their situation won't affect me. You will pay even more taxes to keep elderly and disabled people in public housing, charity hospitals, and food stamps . . . socialism if there was. With SS, they can stay in their own house, and pay rent, buy food and other services in the private sector and remain part of the active economy.
Indeed, but with more pragmatism. I've always run my finances as if there were no entitlements. I have elderly uncles and cousins existing on nothing but social security and its not pretty. My frugal working parents lived long comfortable lives on their income alone and never touched their substantial nest egg. It is their model that I follow (and I also started later than I should have). If not for social security, my parents would probably have had to support and possibly take in their less fortunate relatives to the detriment of their own well-earned security and happiness.
Well, Red, I guess we'll just never see eye-to-eye on this issue and as time goes on we'll see which of us is right. Any politician who supports getting rid of social security will get my support. And if social security is abolished and somehow I do end up living in a cardboard box when I hit retirement age, then I have no one to blame but myself, and I can live with that.
You cannot force people to save money. You also shouldn't be able to seize their income in order to compensate for their failure to save.
exactly. you cant justify taking money from person A because person B needs it. person B should look to charities or just be more responsible. if person A cares so much he can donate to the charities that support person B.
There are many things beyond your control that could wipe you out, my friend. A major disability, a couple of divorces, investments go south, etc. You have the right attitude, we all were invincible when we were 25, but . . . I can't. I don't want to see you and other elderly people on the street. We'll need a good band in the retirement home.
That's where life choices come into play. At 25 I would have preferred a new car, bigger house or a trip to Vegas, but I was not willing to stop investing in my 401K, or my emergency fund, for instant gratification. I've always understood that the industry I work in (Oilfield) can and has changed overnight. With that being said I understand that sometimes shyte happens and people need assistance, but far too many people think unemployment and welfare are a lifestyle instead of temporary assistance. TBTrumpet is exactly right
