Page 9 of 9 FirstFirst ... 456789
Results 161 to 165 of 165
  1. #161  
    Quote Originally Posted by sxtg
    Somebody should be looking into the investment choices made with the money. The amount the average guy puts in then matched by his employer compounded for 40 years should yeild a return large enough to supply 1500/month for 20yrs.
    I think that is the point of putting some of the money in the market (better rate of return).

    I just don't understand how the avg person is only able to draw SS for 3 years . Last time I checked, the avg male was living to the age of 73 (something like that...women live a few years longer than that).

    If SS runs out in 3 years (on average) than what are people living on for the last 7-10 years of their life (when living costs probably go up because it gets harder to take care of yourself as you get advanced in years.)?
  2. #162  
    Quote Originally Posted by t2gungho
    I think that is the point of putting some of the money in the market (better rate of return).

    I just don't understand how the avg person is only able to draw SS for 3 years . Last time I checked, the avg male was living to the age of 73 (something like that...women live a few years longer than that).

    If SS runs out in 3 years (on average) than what are people living on for the last 7-10 years of their life (when living costs probably go up because it gets harder to take care of yourself as you get advanced in years.)?
    I think he means that in three years the average person has received back the actual dollar amount they put in. Seems feasable but it doesn't account for the EmpoyERs contribution or the compounding interest.
  3. #163  
    Exactly right. People keep drawing money from SS long after they've received the amount they paid in.
  4. NRG
    NRG is offline
    NRG's Avatar
    Posts
    3,657 Posts
    Global Posts
    3,670 Global Posts
    #164  
    Welp, that does it for this year.


    Source: WaPo

    Bush Social Security Plan Laid to Rest

    By DAVID ESPO
    The Associated Press
    Tuesday, November 15, 2005; 8:19 PM

    WASHINGTON -- The Senate staged sparsely attended burial services Tuesday for President Bush's long-dead plan to remake Social Security through creation of personal accounts. Metaphors outnumbered mourners.

    Sen. Rick Santorum, R-Pa., said every attempt to reach across party lines on Social Security had "met with a partisan obstructionism that is as rock-solid as the marble before me on the rostrum" in the Senate chamber.


    Initially, he said the president and Republican supporters "tried to throw the long ball." Now, "we're just going to try to run off-tackle here ... to see if we can get the ball down the field."

    He proposed legislation that would give everyone born before 1950 a legal guarantee to the Social Security benefit they are currently promised, future cost-of-living increases included.

    -snip-

    By its action, the Senate thus sealed a place in history for Bush's proposals _ a defeat administered to a president at the dawn of a second term by a Democratic minority demoralized by the loss of seats in the same elections.

    The president issued his call in last winter's State of the Union address, recommending personal savings accounts coupled with reductions in future benefits promised to younger workers. Without them, he said, the system would eventually go broke, requiring a cutback in benefits for all who receive them.

    But confronted with near-unanimous Democratic opposition and polls showing voter unhappiness with Bush's proposals, Republicans flinched. Legislation failed to reach the floor of either the House or Senate.

    -snip-
  5. #165  
    Well, nudist can lay around and wait for his checks still.
Page 9 of 9 FirstFirst ... 456789

Posting Permissions