EliteZags said:
the projected at 70 won't show COLA increase estimate either so it will end up being higher as well
northeastag said:EliteZags said:
the projected at 70 won't show COLA increase estimate either so it will end up being higher as well
Really? I understand that the amount I collect each month will be higher based on the longer I wait to collect. But the amount that is being shown that I will collect when I'm 70 (on the SS website) hasn't changed since I stopped contributing to the system 3 years ago. It's hard to believe that I will receive a higher amount than what is shown on the site when I finally get there.
SteveBott said:
Not sure your complaint.
Is SS slow, inefficient, non responsive? Yes.
But be a turtle and win the race. I've done it.
lobopride said:
Social Security isn't going anywhere but the benefits will be worth less every year. The country needs high inflation to survive. I know they are adjusted for inflation, but guess whose numbers they use.
gggmann said:
FYI, Open Social Security is a pretty good tool for evaluating different scenarios.
https://opensocialsecurity.com/
Pacifico said:lobopride said:
Social Security isn't going anywhere but the benefits will be worth less every year. The country needs high inflation to survive. I know they are adjusted for inflation, but guess whose numbers they use.
The country needs high interest rates to survive.
Warsh has signaled he wants to change the Fed’s preferred inflation gauge.
— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) May 16, 2026
The Fed has used Core PCE, which excludes food and energy, as its benchmark since 2000. Warsh favors Trimmed Mean PCE, which removes the most extreme price movements each month instead of excluding whole… pic.twitter.com/dkvEcdTKJi
P.H. Dexippus said:
They don't have to print 40%. They just have to print enough to cover what taxes and borrowing don't. The plan is to keep taxing, printing, borrowing and inflating as much as they can without courting revolt, leaving the bill to future generations to figure out.
Insert M2 chart here.
Buck Turgidson said:gggmann said:
FYI, Open Social Security is a pretty good tool for evaluating different scenarios.
https://opensocialsecurity.com/
I can't figure out what lifespans that site assumes.
Ogre09 said:
I won't be eligible until the 2050s, so I'm planning on not getting any SS payouts ever. Pretty sure I'll be means tested out. I'm just hoping they don't come after me for taxes on my Roth, but I'm hedging my bets on even that.
Ogre09 said:
I won't be eligible until the 2050s, so I'm planning on not getting any SS payouts ever. Pretty sure I'll be means tested out. I'm just hoping they don't come after me for taxes on my Roth, but I'm hedging my bets on even that.
Z3phyr said:
Less and less people will be prepared for retirement as social security gets weaker and weaker. I wouldn't be shocked if the majority votes to raise taxes wherever possible on the minority that took care of themselves
Stive said:
For those who are older than their spouse
Ogre09 said:
I won't be eligible until the 2050s, so I'm planning on not getting any SS payouts ever. Pretty sure I'll be means tested out. I'm just hoping they don't come after me for taxes on my Roth, but I'm hedging my bets on even that.
Ag CPA said:Ogre09 said:
I won't be eligible until the 2050s, so I'm planning on not getting any SS payouts ever. Pretty sure I'll be means tested out. I'm just hoping they don't come after me for taxes on my Roth, but I'm hedging my bets on even that.
More realistic funding solution is that they will push the retirement age back to make sure most people are dead by the time they are eligible for benefits.
LMCane said:
for the other old guys out there-
I could not get the ID to work on the Social Security Administration page which seems to be a common problem
so you have to print out a bar code and go to a participating US Post Office where they will check your ID and enter it into the system
I did this last friday and miraculously it actually worked- I was able to get into my account yesterday.
shows at age 62 I am on track for $3100 a month
and at age 65: $4300
Ag CPA said:Ogre09 said:
I won't be eligible until the 2050s, so I'm planning on not getting any SS payouts ever. Pretty sure I'll be means tested out. I'm just hoping they don't come after me for taxes on my Roth, but I'm hedging my bets on even that.
More realistic funding solution is that they will push the retirement age back to make sure most people are dead by the time they are eligible for benefits.
one safe place said:Pacifico said:752bro4 said:
41? lol. I'm 43, SS is in no way shape or form apart of my retirement calculations despite paying in the max for the better part of my post-grad life.
This fake news has been around since the 1960s.
It amazes me every time someone says they won't get a dime of SS or it won't be around because it will be out of money. We will never cut SS benefits because that would mean those who did would not get reelected. We will deficit spend, just like we do with everything else.
M.C. Swag said:one safe place said:Pacifico said:752bro4 said:
41? lol. I'm 43, SS is in no way shape or form apart of my retirement calculations despite paying in the max for the better part of my post-grad life.
This fake news has been around since the 1960s.
It amazes me every time someone says they won't get a dime of SS or it won't be around because it will be out of money. We will never cut SS benefits because that would mean those who did would not get reelected. We will deficit spend, just like we do with everything else.
SS is entirely self funded and doesn't add a single penny to the budget. For decades, Social Security actually ran surpluses, meaning it collected more in payroll taxes than it paid out. Those surpluses were invested in Treasury securities, which helped finance other parts of government. Those surpluses are about to run out, but that doesn't mean SS will be defunct. It will just mean a reduction in benefit payout. Unless something truly bizarre happens, everyone should expect at least 70-80% of the payout amount. There is no likely future with 0 payout.
northeastag said:EliteZags said:
the projected at 70 won't show COLA increase estimate either so it will end up being higher as well
Really? I understand that the amount I collect each month will be higher based on the longer I wait to collect. But the amount that is being shown that I will collect when I'm 70 (on the SS website) hasn't changed since I stopped contributing to the system 3 years ago. It's hard to believe that I will receive a higher amount than what is shown on the site when I finally get there.
just let me opt out. I never want a dime from the system for the 20+ years I've paid in. Just let me invest my money on my own.Ogre09 said:Ag CPA said:Ogre09 said:
I won't be eligible until the 2050s, so I'm planning on not getting any SS payouts ever. Pretty sure I'll be means tested out. I'm just hoping they don't come after me for taxes on my Roth, but I'm hedging my bets on even that.
More realistic funding solution is that they will push the retirement age back to make sure most people are dead by the time they are eligible for benefits.
As they should. Current SS ages are ridiculously low. They need to adjust upward as life expectancy increases. Start a ramped increase for anyone currently under 50.
