Quite a long time ago (say, during Clinton maybe), my parents were pretty sure anyone my age should not bet on social security. I figured it was another rant, but I also figured it was worth paying attention to over time. I am not relying on it, but I also don't have many back up plans for when I get old, since we haven't saved much yet. We have life insurance and a will, so that makes me pretty happy since we're only in our mid to early 30s. We're only about 11K away from being debt free outside our mortgage, and we hope to keep it so that we will pay it off before we retire. Who's this we, anyway? I'm home all day! But I sure don't feel retired! I pull my own weight around here, man!
In any case, this was posted on the Common Room and I figured some real numbers from the CBO (which might be the only office left with real numbers), might be enlightening.
CBO numbers on social security
Here is a very short version of where we even got social security in the first place. It's a neat idea, if the government weren't involved. Sorry, but I have yet to see the government NOT screw up a good idea. Neighbors and churches taking care of each other seemed overall to work better in the "good old days".
How Stuff Works on Social Security
Thursday, September 24, 2009
Subscribe to:
Post Comments (Atom)
I dunno about neighbors and churches working well . . . from what my grandmother said, it didn't work well for her family when she was growing up. Although she didn't say much. I think she was too ashamed to talk about the details.
ReplyDeleteBut I don't know anyone my age who seriously believes SS will still be around when we get there. It's not even discussed these days in retirement planning circles beyond a brief "don't plan on it", from my experience. The money goes to help our aging relatives who *did* count on it, whether they wanted to or not.
Out of curiousity . . . the second link mentions "almost three dozen countries in Europe" with "social insurance" programs before Roosevelt signed the US version. How have those programs fared? Are they all buckling under, too?