July 20, 201610 yr It was brought up in another thread. So those fear mongering about Social Security answer the following questions. 1. What was the average life expectancy for a man/woman when Social Security started. 2. What was the average retirement age 3. What percentage of income was Social Security suppose to cover in retirement 4. What is the funding level compared to distributions , today compared to when it started. I'll have more when someone answers. You will find the pitfalls of Social Security are very similar to our defined benefit plans in this country.
July 20, 201610 yr Did I bring this up? Good questions regardless, will there really be money in the treasure box if I get to my late 60's?
July 20, 201610 yr Author Did I bring this up? Good questions regardless, will there really be money in the treasure box if I get to my late 60's? Haha no it wasn't you.
July 20, 201610 yr It was brought up in another thread. So those fear mongering about Social Security answer the following questions. 1. What was the average life expectancy for a man/woman when Social Security started. 2. What was the average retirement age 3. What percentage of income was Social Security suppose to cover in retirement 4. What is the funding level compared to distributions ' date=' today compared to when it started. I'll have more when someone answers. You will find the pitfalls of Social Security are very similar to our defined benefit plans in this country.[/quote'] 5. How much is being paid out to survivors such as kids who have lost their parents? I know mothers who are widows that won't get married because they don't want to lose their SS benefits. I also know grandparents who are raising their grandchildren who receive SS benefits. When SS was originally set up, was it meant to pay out these type of benefits? IMO, these benefits are a huge drain on the fund. I think these should be need based. The widow I know received 7 figures when her husband passed. The SS benefits pay for luxury items.
July 20, 201610 yr Author 5. How much is being paid out to survivors such as kids who have lost their parents? I know mothers who are widows that won't get married because they don't want to lose their SS benefits. I also know grandparents who are raising their grandchildren who receive SS benefits. When SS was originally set up, was it meant to pay out these type of benefits? IMO, these benefits are a huge drain on the fund. I think these should be need based. The widow I know received 7 figures when her husband passed. The SS benefits pay for luxury items. I'm not going that far I'm a libertarian. But I have a heart . I'm fine with short term assistance for those who can't help themselves. You also have to think normally if you are a small child and your parent dies that parent paid way more into the system than they got out before they passed away. So I can reconcile that with libertarian beliefs. What I can't reconcile is I don't have a choice to invest that money in a seperate account and have beneficiaries for my dependents or have a life expectancy cash refund like an annuity policy.
July 20, 201610 yr It was brought up in another thread. So those fear mongering about Social Security answer the following questions. 1. What was the average life expectancy for a man/woman when Social Security started. 2. What was the average retirement age 3. What percentage of income was Social Security suppose to cover in retirement 4. What is the funding level compared to distributions , today compared to when it started. I'll have more when someone answers. You will find the pitfalls of Social Security are very similar to our defined benefit plans in this country. Google can't answer these questions for you?
July 20, 201610 yr Author Google can't answer these questions for you? I know the answers. The questions are directed at the person below you who made a genreal comment on Social Security in another thread and did it again in this thread. In a utopian society I wish everyone had pension and social security . But we live in the real world and we are adults. I want this poster to make a fact based argument instead of his genreal non sense comments. There are fiscal, economic and common sense reasons why his comments make no sense. Sure he is trying to appeal to people who don't care about facts. But I want a real discussion and my questions let me know how much he really understands.
July 20, 201610 yr Great. Since the answers are actually known, we can shut down this thread. If someone wants to discuss Social Security (without targeting it at specific people) in a new thread, that's fine.
Archived
This topic is now archived and is closed to further replies.