Social Security now expected to run short on funds in 2035, one year later
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Re: Social Security now expected to run short on funds in 2035, one year later
#2Should I give up on any chance at social security in 40 years?
Re: Social Security now expected to run short on funds in 2035, one year later
#3I’m 40 and at no point in my life have I trusted that social security will exist for me or anyone beyond my generation so this is just more reinforcement of that
You’re on your own folks
Re: Social Security now expected to run short on funds in 2035, one year later
#4I’m 40 and at no point in my life have I trusted that social security will exist for me or anyone beyond my generation so this is just more reinforcement of that You’re on your own folks
And when it runs out, those of us who have made sacrifices now to provide for old age will be a wealthy, "privileged" target.
Re: Social Security now expected to run short on funds in 2035, one year later
#5Should I give up on any chance at social security in 40 years?
2035 is in 11 years.
Re: Social Security now expected to run short on funds in 2035, one year later
#6Should I give up on any chance at social security in 40 years?
Yes. Worst case you will be pleasantly surprised.
Personally I would be thrilled if civilization survived another 40 years.
Re: Social Security now expected to run short on funds in 2035, one year later
#7I’m 40 and at no point in my life have I trusted that social security will exist for me or anyone beyond my generation so this is just more reinforcement of that You’re on your own folks
And when it runs out, those of us who have made sacrifices now to provide for old age will be a wealthy, "privileged" target.
Those of us who have the foresight to make such sacrifices should also have the foresight to structure our investments to make them resilient against redistribution.
Re: Social Security now expected to run short on funds in 2035, one year later
#8Perhaps this is my cynicism showing, but it's the Boomers who caused this problem. Let them suffer the shortfall as the natural consequence.
They've been the political decision-makers most of their lives because there were so many more of them than their parents. And they can criticize Millennials for receiving (?!) participation trophies they handed out until their faces are as blue as their hair, but they've systematically screwed the economy to their benefit their entire lives.
If there aren't enough people in the workforce and wages aren't high enough for payroll taxes to pay more than 83% of their SS benefits, then let them only receive 83% of their SS benefits.
I'm all out of sympathy for their entitlement.
Re: Social Security now expected to run short on funds in 2035, one year later
#9Very easy to fix, but one US party does not want to fix it. That party has spent the last 40 years trying to destroy it.
Re: Social Security now expected to run short on funds in 2035, one year later
#10I’m 40 and at no point in my life have I trusted that social security will exist for me or anyone beyond my generation so this is just more reinforcement of that You’re on your own folks
And when it runs out, those of us who have made sacrifices now to provide for old age will be a wealthy, "privileged" target.
But only because there was no will to sacrifice the wealth of the wealthiest, all a fiction of effectively fancy spreadsheets. Surprised this would catch up with us?