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Post by marle on Apr 23, 2015 16:52:05 GMT -5
I don't usually wade into politics on this board, but I just want all the young Americans on this site to keep the following in mind when voting (or deciding to vote) in 2016: "I think we need to raise the retirement age, not for people that are already nearing, receiving Social Security, or already on it, but raise it gradually, over a long period of time for people that are just entering the system," Bush said. "And I think we need to do that in relatively short order." Jeb Bush Backs Hike in Social Security Retirement Age
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Post by Karen on Apr 29, 2015 10:28:16 GMT -5
Well, of course they want to raise the retirement age for our generation. They wouldn't dare try to raise it for the generation currently about to retire, they're the ones with all the money. You wouldn't want to risk your campaign by threatening the retirement of your backers.
Personally I have zero intention of voting another shrub into office.
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Post by marle on Apr 29, 2015 20:02:55 GMT -5
Well, of course they want to raise the retirement age for our generation. They wouldn't dare try to raise it for the generation currently about to retire, they're the ones with all the money. You wouldn't want to risk your campaign by threatening the retirement of your backers. Personally I have zero intention of voting another shrub into office. Ironically, this stance will impact him much more with the older crowd, who are sensitive to anything that sounds like taking away Social Security benefits, even if it won't affect them. They also vote in much greater numbers. This is not what most younger adults think about, I reckon. But I wonder how bad the retirement situation will be for Americans (and perhaps elsewhere, I'm not sure) in the future. Wages are stagnant, pensions are gone, age discrimination is pretty bad for people trying to work until full retirement age, medical costs continue to balloon by the year. That last part - there are legitimate concerns about the cost of Medicare because of the increasing costs of our Sickcare system. That gives politicians an excuse to lump Social Security together with Medicare and talk about Entitlement Reform as one thing. Not really fair when Social Security is in much better shape. But anyway, I think about this stuff partially because I don't expect to have much social support in my old age. I feel an even greater need to prepare myself for the future, when I'll be in a more vulnerable situation financially.
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Post by Karen on Apr 30, 2015 8:26:58 GMT -5
This is not what most younger adults think about, I reckon. But I wonder how bad the retirement situation will be for Americans (and perhaps elsewhere, I'm not sure) in the future. Wages are stagnant, pensions are gone, age discrimination is pretty bad for people trying to work until full retirement age, medical costs continue to balloon by the year. That last part - there are legitimate concerns about the cost of Medicare because of the increasing costs of our Sickcare system. That gives politicians an excuse to lump Social Security together with Medicare and talk about Entitlement Reform as one thing. Not really fair when Social Security is in much better shape. But anyway, I think about this stuff partially because I don't expect to have much social support in my old age. I feel an even greater need to prepare myself for the future, when I'll be in a more vulnerable situation financially. You hit the nail on the head with this. I feel exactly the same way. With rising medical costs, stagnating income, and few people managing to work anywhere long enough to get a pension from their employer, (the trend seems now to fire people before they're allowed to earn benefits, or not hire older workers in the first place) how are any of us going to manage in our old age? I don't feel like I know enough about the situation to offer any insight. I don't know what could be done about the ridiculous cost of medical care in our country. Personally, I'm all for socializing medical care. I would happily pay more in tax to know that I could see the doctor when I needed to. But maybe most Americans don't feel that way. Or maybe the insurance lobbyists have too much influence over our politicians.
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Post by marle on Apr 30, 2015 17:53:39 GMT -5
You hit the nail on the head with this. I feel exactly the same way. With rising medical costs, stagnating income, and few people managing to work anywhere long enough to get a pension from their employer, (the trend seems now to fire people before they're allowed to earn benefits, or not hire older workers in the first place) how are any of us going to manage in our old age? I don't feel like I know enough about the situation to offer any insight. I don't know what could be done about the ridiculous cost of medical care in our country. Personally, I'm all for socializing medical care. I would happily pay more in tax to know that I could see the doctor when I needed to. But maybe most Americans don't feel that way. Or maybe the insurance lobbyists have too much influence over our politicians. With regards to older workers, I think government should start cracking down where there's blatant discrimination. Socializing medical care also helps in this regard, because older people require more medical care and currently employers have to shoulder much of the insurance costs (at least for jobs that have benefits). When it comes to the rising medical costs, I don't know how much government policy can do. I think it can do some things, and I think they should continue trying to find ways to stem costs (that are not draconian measures that simply cut benefits to people who legitimately need them). The best thing people (in general) can do is to live healthier lifestyles. I guess if I had my way, insurance plans (or socialized medical care) would pay for several visits a year to a holistic health care practitioner (like a nutritionist, but perhaps broader than that) in addition to the yearly doctor visit. Medical doctors really just specialize in the symptoms of disease/problems, and are not good at promoting health by natural means. Good diet/exercise/lifestyle is much less expensive in the long run. I do agree with you though, socializing medicine would be my preferred route. And I don't think that will happen any time soon.
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Post by marle on May 31, 2015 20:15:00 GMT -5
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Post by Strawberry on Jun 1, 2015 19:27:00 GMT -5
Thinking about any of this makes me depressed. I was talking to a couple of people about this earlier today (people who are already nearing retirement age)...and they didn't seem too thrilled at the thought of it, even though they themselves are currently "locked in." They understood how horrible it sounds.
Life...is just mostly waking up every day and going to work, which sucks. And it sucks to think that...there's not really much to look forward to after that. I'm sure most people at my age may say the same thing...but 1) I can't even imagine retiring. 2) Even if one makes it to 70...one is already declining in health.
If you asked me ten years ago what my thought of retirement would be, it would be something along the lines of "travelling." HA! Yeah, right. Now...it's like...once me or anyone else in my generation gets to retire, we will have one foot in either a grave or a nursing home. :/
Everything about life is expensive, and it drives me crazy.
I was so hell-bent on trying to get debt-free. And now I think I can finally admit that that's impossible. For not just me, but the vast majority of people.
I agree insurance sucks...and medical costs are BEYOND ridiculous, but I don't know that I agree with socializing medical care. From what I hear, it comes with its own big disadvantages.
Admittedly, I don't know that much about politics. However, over the past year, after being directly affected myself...I'm starting to realize the importance. And that's an understatement. I don't even want to go into the incompetence of the leaders of my own state, which is making me really angry lately, especially currently. (and I even voted this last time; unfortunately, no wanted changes were made)
I hope to make myself way more informed this time around.
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Post by marle on Jun 4, 2015 7:05:36 GMT -5
Here's what I think is likely to happen... For those of us in this thread, the full retirement age for Social Security stands at 67 right now. Despite conservative threats, I don't believe that number will go higher than 68. Jeb and others put numbers out there like 70 in order to make smaller increases seem reasonable and inevitable. It is worth noting that you can begin collecting Social Security at a reduced amount when you reach a certain age. Right now that age is 62 at a 35% decrease in benefits. Although if they raise the retirement age, the early collection penalty will likely increase.
The actual age people stop working is usually less than the "full retirement age." The average in this country is 62. People either can't find work or are simply worn out by that time. I guess they either draw down their savings, collect disability, or depend on a spouse/family to support themselves (if they are able to).
And if people want to (for those who actually can) continue to work past full retirement age, they often do, because delaying collection of Social Security increases their monthly benefits.
In essence, this debate is really about cutting benefits, because people will retire when they have to, regardless of what politicians set the age to. The eligibility age is an incentive to keep working, though unfortunately for many people, it's not a guarantee they will be able to.
I'm certainly trying to save what I can, and contribute as much as I can to my retirement account. Because of how compounding interest works, it's almost impossible to save a decent amount if you start older, even if you contribute more at a later age. Given how difficult it is to get a head start in life for many people, especially with student loans and such, I wonder what's going to happen with this generation. And that's assuming things don't get worse! Our economy may not be as rosy (relatively speaking) in the future as it has in the past 70 years.
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