Sen. Mark Warner (D-VA) wants to raise retirement age to 80

[Gary and Alla 3,694]

Is anyone still relying on the government for their future retirement needs? I will retiure whenever I choose, tomorrow if I want to. Probably within 2 years when I am well under age 60. Screw the government! They are not telling me when to retire.

[웃 910]

Is anyone still relying on the government for their future retirement needs? I will retiure whenever I choose, tomorrow if I want to. Probably within 2 years when I am well under age 60. Screw the government! They are not telling me when to retire.

Not everyone is pro-choice.

[I AM NOT THAT GUY 5,715]

I didn't see that he advocated the benchmark at 80 years old either. The senator was just bringing up some valid points. There are many ways to keep Social Security solvent and most of them are not pretty. Keeping the program solvent won't be easy or painless.

I'm 55 years old and have been paying into it since I was a teenager. It kind of sux that this has come to a head as I am approaching the age of being able to collect. My parents collected and I should be able to as well. Otherwise I have been been swindled and robbed.

Just because our parents stole from their kids, doesn't mean we should pass on the legacy.

Edited March 14, 2011 by Some Old Guy

[peejay 327]

Is anyone still relying on the government for their future retirement needs? I will retiure whenever I choose, tomorrow if I want to. Probably within 2 years when I am well under age 60. Screw the government! They are not telling me when to retire.

I'll do the same. I'm not relying solely on Social Security by any means. However, I'm middle class and have paid into the system all of my adult life. I hate being taken for a stooge and a sucker by a bunch of lying creeps that have conned the American people.

[Gary and Alla 3,694]

I'll do the same. I'm not relying solely on Social Security by any means. However, I'm middle class and have paid into the system all of my adult life. I hate being taken for a stooge and a sucker by a bunch of lying creeps that have conned the American people.

But the writing has been on the wall for years, decades. If what I have paid in covers my mother then I am happy. She was given a song and dance and relied on it much more than I did. What are her options at her age? At least I had time to invest in other opportunities.

They ought to just end it now and pay off what they owe to those that are retired and make a cutoff date, say anyone under the 40 quarters, gets nothing but they have time to do other things. Not likely.

So after paying income tax and 15% into SS and medicare, you have to put aside another 10%.

[Gary and Alla 3,694]

Not everyone is pro-choice.

True You would think that for something as personal as your retirement for you and your family, everyone would be. Go figure.

Also to be completely honest, we are seriously considering, even planning, on living spending the majority of our time in Ukraine or other foreign countries. Our comparable lifestyle in Ukraine is 1/3 the cost it is here. we will all be US citizens and free to come and go as we please.

[^_^ 5,021]

Also to be completely honest, we are seriously considering, even planning, on living spending the majority of our time in Ukraine or other foreign countries.

I don't understand why all Americans don't do this. ####### is up with moving to Florida? You might as well move overseas.

[JohnSmith2007 353]

True You would think that for something as personal as your retirement for you and your family, everyone would be. Go figure.

Also to be completely honest, we are seriously considering, even planning, on living spending the majority of our time in Ukraine or other foreign countries. Our comparable lifestyle in Ukraine is 1/3 the cost it is here. we will all be US citizens and free to come and go as we please.

Hear, hear. I am not counting on SS. If it is there, great it will be gravy. If it isn't, then I will survive on my 401K and savings. I will be spending my retirement in the nicest 3rd world country I can find. Somewhere that my savings will go further while still being able to live comfortably. I will make that choice in about 8 years when I can withdraw from my 401K without penalty. Anyone that depends on SS is a real chump as is anyone that depends on the government in general.

[james&olya 1,121]

80? A bit much. Speaking as a 50 something it would be better to make it 67 for minimum benefits and 70 for full benefits. I would also means test and eliminate the cap on max contributions per year. But most importantly I would bring back the "lock box" and hang any congress person that touches it again. Since we are stuck with SS this would be the best way to save it.

Your ideas are good ones, especially about eliminating the cap on contributions. This alone would more than correct the projected short-fall and would make SS solvent for the foreseeable future.

You are sounding like a 'librul' on this! I had always assumed you were backing the other side.

[^_^ 5,021]

Yeah the GOP is pretty much deadset against eliminating the income cap on contributions. That's a MoveOn.org idea.

[JohnSmith2007 353]

Your ideas are good ones, especially about eliminating the cap on contributions. This alone would more than correct the projected short-fall and would make SS solvent for the foreseeable future.

You are sounding like a 'librul' on this! I had always assumed you were backing the other side.

SS was a bad idea. I wish we never had it. But since we do and so many people have their futures banked on it we might as well try and save it without bankrupting the country.

Yeah the GOP is pretty much deadset against eliminating the income cap on contributions. That's a MoveOn.org idea.

Well I guess I am a liberal then. Eliminate the cap and means test for benefits. It is one way to save it without raising the contribution rate.

[^_^ 5,021]

SS was a bad idea. I wish we never had it. But since we do and so many people have their futures banked on it we might as well try and save it without bankrupting the country.

As long as so many of our citizens spend their entire working lives in service-sector jobs that barely pay a living wage (sometimes, not even), I don't think we have a choice. As a society, we can't allow them to just starve when they're older.

[JohnSmith2007 353]

As long as so many of our citizens spend their entire working lives in service-sector jobs that barely pay a living wage (sometimes, not even), I don't think we have a choice. As a society, we can't allow them to just starve when they're older.

I can't imagine someone working their entire lives at a job that pays $10/hr. It seems you would have to work at not getting a better job. Even a manager at McDonald's makes a living wage.

[^_^ 5,021]

I can't imagine someone working their entire lives at a job that pays $10/hr. It seems you would have to work at not getting a better job. Even a manager at McDonald's makes a living wage.

Just earning a living wage doesn't afford one much opportunity to save for retirement. And like it or not, we have a lot of jobs in this service-based economy of ours which pay living wages (and no more) or less. Someone has to work those jobs and many people will spend much, most or all of their lives working those jobs. They can't be thrown to the wayside after we're done with them. It's not right.

[JohnSmith2007 353]

Just earning a living wage doesn't afford one much opportunity to save for retirement. And like it or not, we have a lot of jobs in this service-based economy of ours which pay living wages (and no more) or less. Someone has to work those jobs and many people will spend much, most or all of their lives working those jobs. They can't be thrown to the wayside after we're done with them. It's not right.

Yeah, I guess it happens. I still don't understand it though. I didn't go to college or had any special breaks and I managed to live a good life. The lack of ambition is a major factor for someone spending their entire working lives in poverty it seems.