Are You A GenXer or Millenial Generationer? Get Ready To Bend Over....

[Russ]

Wedesdo,

Imitation is the sincerest form of flattery. It's also a sign of a weak mind.

Russ, NCNE

 

[GasX]

There are three kinds of lies.
Lies
Damned Lies
&
Statistics


<< The elderly (age 65 and up) population will grow 153 percent between now and 2040. (Social Security Administration) >>


but what about as a percentage of the population?


<< Baby boomers are saving only about one-third as much as they need. This means their kids will have to finance their retirements. (Merrill Lynch) >>


brought to you by a company with a vested interest in you saving.


<< Today's average, married senior citizen paid $83,852 in Social Security and Medicare taxes in his/her lifetime. The average senior will get back $308,328. (Ways and Means Committee) >>


Due to the benefits of compound interest, this is not that big of a deal.


<< Today's 63-year-old will get back roughly $200 for every $100 he or she pays into Social Security. Today's 25-year-old will lose over $100 for every $450 paid into Social Security. (The Wyatt Company) >>


Part 1 see above.
Part 2 - that actually is scary

<< Since 1969, in inflation-adjusted dollars, the average Social Security benefit for a retired worker has risen by 80 percent. (Social Security Administration) >>


It still isn't enough to live on.


<< As a share of workers' payroll, the total cost of Social Security and Medicare could climb from 17 percent today to over 50 percent by 2040. (OASDHI, 1992) >>


Not if we start investing the SS fund instead of loaning it out at 2% (T-Bills)

There is a lot of hype out there, but the fact remains. Social Security was never meant to be your retirement income. It was put in place as a stop gap measure during the great depression. Save you money kids and don't expect to live off Social Security.

 

[ryudo]

shifrbv,
What you have posted is called a ponzi scheme. The pyramid is about to implode.

 

[Red Dawn]

shtfrbrains

<< I just paid off my loans 2 years ago, thank God. >>

You wasted good money on an education so you can post your drivel here at Anandtech like anybody gives a good god damn what you think. It's amazing how many of you fools post here. Oh well, all the better for me to poop on.



<< the GenXers are still in a position to get screwed >>

You guys need something to believe in. How about a bloody conflict with China, that should give you something to believe in. Wait if we do that and thousands of you are slaughtered like livestock who's going to pay into Social Security? Hmm... I'm thinking it would be a fair exchange.

 

[charrison]

<< << Today's average, married senior citizen paid $83,852 in Social Security and Medicare taxes in his/her lifetime. The average senior will get back $308,328. (Ways and Means Committee) >>


Due to the benefits of compound interest, this is not that big of a deal.
>>



If it was simple interest it would not be a problem. But it does not work that way. Workers pay the benefits of the retired people. The retired person does not get his money + interest back, he gets someone elses money. This scheme has got be ended, even if it has to be done painfully slow.

 

[Red Dawn]

<< The average senior will get back $308,328. >>

I wonder what percentage of that is from average cost for dying? It's not cheap to die in America.