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Enough

April 18, 2014

As a retired Social Security recipient, I heard again today a politician speak about how Social Security will "run out of money by 2021....

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(38)

CaveFelem

Apr-18-14 6:10 AM

As someone who hopes to retire in 2033, I'm sick of it too. What about me? If I live that long, and can keep a job, that will be about 50 years of full time employment, all the while contributing to this so called "trust fund".

What then? Will they say to me, oh, too bad, so sad, no money for you?

If that's the case, stop taking my money now, and let me invest it instead.

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ericwilliamsport

Apr-18-14 7:18 AM

Perfect opportunity of the LTE author and Cave to get involved in finding candidates who have ideas they like and support on fixing the issue. Then, help spread the word and get them elected if thats what you support.

Wether you get your money back from Social Security contributions or not, investing in your own IRA or employer sponsored program is almost more important anyway. The social security income you might receive at retirement is like the unemployment income you would get now. Not nearly enough.

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Steelman

Apr-18-14 7:45 AM

Not nearly enough... ericwilliamsport

Agreed, but I would still like to get some of my investment back, even if its not enough to live off.

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ericwilliamsport

Apr-18-14 7:57 AM

Probably should come to terms now that getting your money back isn't going to happen and figuring out how to fund individual retirement planning. Then if social security survives or you get your money back, you'll have more than you planned for.

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ericwilliamsport

Apr-18-14 7:59 AM

An estimated 165 million workers are covered under Social Security.

51% of the workforce has no private pension coverage. 34% of the workforce has no savings set aside specifically for retirement. In 1940, the life expectancy of a 65-year-old was almost 14 years; today it is about 20 years.

By 2033, the number of older Americans will increase from 46.6 million today to over 77 million.

There are currently 2.8 workers for each Social Security beneficiary. By 2033, there will be 2.1 workers for each beneficiary.

ssa.gov/pressoffice/basicfact.htm

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ToTEXASfromPA

Apr-18-14 9:05 AM

"Probably should come to terms now that getting your money back isn't going to happen and figuring out how to fund individual retirement planning." --ericwilliamsport

++

I have believed this way and have saved separately my whole career in a 401K. I have assumed that I would never see a dime from SS and would have to live separately on a 401K and company retirement program.

Now I am concerned that politicians will see 401Ks as a solution to get them out of a bind from underfunding for SS. They will use some lame excuse that it was tax exempt for all these years and therefore they have the right to come after it. I could kick myself in the butt for not cashing out the 401K when the stock market bottomed several years back, pay the penalty, and then get back in non401K investments.

But in the end, it is not my money; it is God's and I am just a steward of it. He will provide for my needs.

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underwood

Apr-18-14 9:25 AM

In the beginning SS was enacted as a retirement fund we were required to invest in. At some point the “fund” was made part of the general fund and SS became just another entitlement that was taxed separately from our normal income taxes. There is no SS fund. Like all other entitlements, it will continue as long as government has the means to pay it.

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LauriH

Apr-18-14 9:38 AM

Mr. Benjamin I think your letter is mean spirited. If that is how you think then I would like to stop paying into social security and would like to take my money and invest in my familys future not yours. Tell me do you have periodic visits to your house to see if you are still living? I have heard of many situations where a recipiant dies and a family member or caregiver continues to collect the checks, what is in place to stop that fraudulant act? It sounds like you think the SNAP program is a waste of money , I disagree. I would much rather help the families who need food for their children than to fund someone elses "retirement" such as yours Enough! As far as unemployment benefits we pay into that also, I realize not at the rate of social security but we do pay. Again no one is riding the gravy train while on unemployment. Easter is sunday try to let go some of the distaste for people who are not as blessed as you, not everyone is bilking the system.

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MECURY2

Apr-18-14 9:49 AM

It's OBAMA'S fault!!

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underwood

Apr-18-14 9:57 AM

Lauri, do you think we should raise taxes or reduce government programs to bring us to some level of fiscal sanity?

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LauriH

Apr-18-14 9:59 AM

One more thing Mr. Benjamin you said that unemployment benefits, benefit neither the recipiant or the taxpayers I disagree and so would the millions that could make their house payment or pay rent this month, or buy groceries or clothes for their children,pay for oil or gas to heat their homes. You do realize that unemployment does have an end? It does not go on for a persons lifetime so at one point it stops. To say that all recipiants of unemployment forget work ethic is ridiculous at best.

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Steelman

Apr-18-14 10:01 AM

I would much rather help the families who need food for their children than to fund someone elses "retirement" such as yours Enough............LauriH

So people that would like to continue to work, but are forced into retirment should not get the money they have put into the system and may depend on now that they are unable to work. Your right these senior citizens should not get any of their moneyback. Instead we should take this money and give it to people that want to sit back do nothing and collect. Come on

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Alsever

Apr-18-14 10:17 AM

P.J O'Rourke, (related to O'Bama?) once did a poll and published the results. He first asked young people if they would like their SSI taxes eliminated from their pay checks--almost everyone said "Yes". He then asked if they were willing to financially take care of the parents and grandparents if SSI taxes were eliminated --Almost every young person said, "Take More SSI taxes!"

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LauriH

Apr-18-14 10:25 AM

Steeleman who said he was forced into retirement? I merly stated if thats how he feels then I would prefer to have my deduction put aside for my retirement after all I have worked 30 years is SS going to be there for me? We all pay taxes that fund all of these programs, do some need reformed? Yes they do but why constantly on the backs of the unemployed and underemployed? Yes Mr. Underwood I believe that there needs to be a reduction in gov't programs across the board I am sure there are many programs that we are not even aware of that is nonsense spending. I believe that programs geared to help people are not the ones that need to be drastically cut at this time. When the economy picks up at a steadier pace.

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underwood

Apr-18-14 10:34 AM

Lauri, do you think the economy will recover sufficiently to bring economic sanity if government continues to take ever larger portions of it and borrows from it’s future?

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Steelman

Apr-18-14 10:43 AM

who said he was forced into retirement?..........LauriH

Oh your correct everyone wants to keep a 70yr old on the payroll, and good luck getting hired if you are that old.

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LauriH

Apr-18-14 10:49 AM

Mr. Underwood I believe many of these programs help some to see a future for themselves. If the programs that help people get through the rough patches are totally cut off how is that going to help the economy? People need jobs to support their families and unless you work for the gas company these types of jobs are not easily obtained. Many people who are on unemployment have their age and education level actually against them. Not many buisnesses are looking for a 50+ aged person to hire, sad but true. The people who lost unemployment benefits in Dec. were not weaned off the program they were totally cut from it, how is that helping anyone? My comments were to the letter writer, I am not against older people collecting social security at all, but what about the people who worked all of their life and loses a job for whatever reason why are we so quick to cut the emergency unemployment extension program instead of reforming it?

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underwood

Apr-18-14 11:12 AM

Lauri, I don’t think anyone is trying to eliminate these programs, just put some sort of limit on them. The extreme altruistic and collectivist thinking would have everyone having their needs met at the expense of others as long as there are others able to finance those needs. As the economy is further drained by government it will be less apt to recover.

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underwood

Apr-18-14 11:28 AM

I was sixty-one when my company needed to downsize and several of us were offered early retirement. We knew the alternative was a lay-off. Since the early retirement package included a year’s severance pay, it bridged me over until I could draw SS. I returned to Williamsport and hoped to find employment so I could work into my seventies, but to no avail, so I signed up for SS. I had a pension and a decent 401K balance to help out. I feel for anyone losing their employment in their sixties and hope they did sufficient planning to allow them to get by.

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LauriH

Apr-18-14 11:31 AM

I actually know quite a few 70+ aged people who are still working to suppliment their social security. I am not against social security at all steeleman I was merly addressing the letter writers attitude against other gov't programs designed to help people. It seems he was only interested in a program that he benefits from, and suggests stipulations for those programs in which he deems unneccesary. Seems rather heartless that he would be against the supplimental food program that feeds families and children but as long as he gets his he is happy.

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LauriH

Apr-18-14 11:46 AM

Mr. Underwood some such as yourself were not as lucky as to have 1 year severance pay or be so close to retirement age, the answer is not to cut these people from any help at all, that will not help in the recovery of this country. I feel more job re-training for older workers who are displaced by job loss could be an answer, but yet again where would the money come from, taxpayers, and I am all for that. All the people out there believing that somehow these people who are collecting these gov't benefits are living high on the hog should spend 1 month in their shoes and really find out what horrible situations some people are really in instead of assuming that everyone who collects these benefits are just there for a hand out. A friend of mines husband has been out of work for almost 2 years, he is 58. He was called for an interview by a local company only to be told by the interviewer that "he was much older than the last person interviewed" what should one say to that?

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LauriH

Apr-18-14 11:57 AM

Cont.. Age discrimination is illegal I thought but it does happen. How many gas companies want to hire a 58 year old man, with no skills for that job? This man is not a lazy man he is quite intelligant and not afraid of hard work, but as we all know age creeps up on you and your physical stamina fades somewhat as we get older,do they look at him as a prime candidate for a job? I'll bet no. Give companies tax incentives to hire the "older" work force, give tax incentives to go back to school and learn a new trade. The answer is not to totally cut funding for these programs. I do not understand the mentality of not helping our own citizens but are so quick to run to other countries aid.

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LauriH

Apr-18-14 12:19 PM

The last thing I will say about this is Mr. Underwood do you really in your heart believe people just sit around and say "I am just going to sit around and let others take care of me"? I believe in my heart yes there may be some but the vast majority on programs such as welfare,SNAP,unemployment are there not because of choice but a bad situation, I have not become so synacle of people that I believe people enjoy using a food stamp card to pay for there food or having to go to " a clothes closet" for free clothes or have their home foreclosed on or having their car repossessed, because those people exist to. I am sure I am wasting my breath and my day off so to you Mr. Underwood and others have a nice Easter weekend.

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underwood

Apr-18-14 1:26 PM

Lauri, when did I ever say that people utilizing these programs are lazy, shiftless, bums? You’re painting with a pretty broad brush. My question right along has been where do we reach a point where we have to put a lid on entitlements.

The circumstances we find ourselves in today have a lot more to do with decisions made along the way than with luck or good fortune. Luck and good fortune only help if you’re prepared to recognize and take advantage of them.

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ericwilliamsport

Apr-18-14 1:32 PM

Agism is illegal, if the person is capable of doing the job. If the 58 year old doesn't have the skills as you mentioned, I don't think I'd hire them if they were 16,18,21,25,35,95.

I'll say again, learn computer applications. If you can operate Microsoft Office efficiently, you're in the game. If you don't have access to the computer or MS Office, ask a family, friend, former co-worker, area agency on aging, the library, the job search centers.

I'd hire a 58 year old who had limited skills but did have good proficiency in the MS Office applications.

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