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Thread: Calculate your Social Security Loss...

  1. #1
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    Calculate your Social Security Loss...

    Under the Bush Plan. (According to Senate Democrats)

    Social Security Calculator
    The widow is gathering nettles for her children's dinner; a perfumed seigneur, delicately lounging in the Oeil de Boeuf, hath an alchemy whereby he will extract the third nettle and call it rent. ~ Carlyle

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  3. #2
    Smells Like Teen Spirit jmcclain19's Avatar
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    Re: Calculate your Social Security Loss...

    The Heritage Foundation has the same thing

    http://www.heritage.org/research/fea...ocialsecurity/

    I don't believe either group

  4. #3
    Please come again pedro's Avatar
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    Re: Calculate your Social Security Loss...

    Those come up with some amazingly different calculations.
    Get your nunchucks and the keys to your dad's car. I know where we can get a gun

  5. #4
    RZ Chamber of Commerce Unassisted's Avatar
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    Re: Calculate your Social Security Loss...

    Most of us are young enough that we won't reach retirement age by 2042. By then, there won't be anything left.
    /r/reds

  6. #5
    Dunnilicious creek14's Avatar
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    Re: Calculate your Social Security Loss...

    Quote Originally Posted by Unassisted
    Most of us are young enough that we won't reach retirement age by 2042. By then, there won't be anything left.
    LOL, some of us will be dead by 2042.

    I'll lose 1700 a year.
    Will trade this space for a #1 starter.

  7. #6
    Vavasor TRF's Avatar
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    Re: Calculate your Social Security Loss...

    Well, All i know is if all the money i put into SS had gone into an IRA for the first 12 years of my professional life, i'd retire pretty damn comfortable. And it's not like i made that much when i started out. aroud 17,000 per year.

    I've been out of SS for 5 years now, and i know my retirement is set as long as i continue to work here. and even if i don't, i can roll it over to an IRA or mutual fund.

    this really needs to be taught in high school.
    Suck it up cupcake.

  8. #7
    Dunnilicious creek14's Avatar
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    Re: Calculate your Social Security Loss...

    Does anyone under the age of 55 really count on SS as their sole source of retirement income. I'm a lot closer to retirement than most of you and I have never thought of it as what I will use to live on in my retirement. I've thought of it as something that won't be there at worst and just a little icing on the cake at best.
    Will trade this space for a #1 starter.

  9. #8
    Administrator GIK's Avatar
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    Re: Calculate your Social Security Loss...

    If that calculator is accurate, I'll be losing a decent chunk of change...

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    Member 15fan's Avatar
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    Re: Calculate your Social Security Loss...

    I have a family friend who will start collecting Social Security this year.

    In 6 months, she will draw out more in benefits than she paid in during her entire working career.

    That's a messed up system any way you look at it.

    I'll gladly sign any document that Uncle Sam draws up in which I'll voluntarily decline to receive any retirement benefit from the US Government if they'll allow me to stop paying into Social Security. Heck, I'll still sign it if they'll simply reduce my mandatory contribution to the system by 50% over the rest of my career. They can keep all of the money I've ever paid 'em, too.

    I guarantee that the retirement nest egg I build on my own will be far better than what the Government would provide for me.

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    Re: Calculate your Social Security Loss...

    Of course, this calculator assumes that there will be no loss of benefit level. I have high doubts that there will be no cuts made to SS when Legislators are asked to spend general revenue (i.e. less money for their projects) on SS benefits in 2017.

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    Re: Calculate your Social Security Loss...

    Quote Originally Posted by 15fan
    I have a family friend who will start collecting Social Security this year.

    In 6 months, she will draw out more in benefits than she paid in during her entire working career.

    That's a messed up system any way you look at it.

    I'll gladly sign any document that Uncle Sam draws up in which I'll voluntarily decline to receive any retirement benefit from the US Government if they'll allow me to stop paying into Social Security. Heck, I'll still sign it if they'll simply reduce my mandatory contribution to the system by 50% over the rest of my career. They can keep all of the money I've ever paid 'em, too.

    I guarantee that the retirement nest egg I build on my own will be far better than what the Government would provide for me.

    Here Here :gac:

  13. #12
    Maple SERP savafan's Avatar
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    Re: Calculate your Social Security Loss...

    Didn't FDR plan all along for social security to only be in place for 30 years and that after that it would no longer be beneficial?
    My dad got to enjoy 3 Reds World Championships by the time he was my age. So far, I've only gotten to enjoy one. Step it up Redlegs!

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    Re: Calculate your Social Security Loss...

    Didn't FDR plan all along for social security to only be in place for 30 years and that after that it would no longer be beneficial?
    No.

    I guarantee that the retirement nest egg I build on my own will be far better than what the Government would provide for me.
    What if you'd retired in 2000 or 2001?
    The widow is gathering nettles for her children's dinner; a perfumed seigneur, delicately lounging in the Oeil de Boeuf, hath an alchemy whereby he will extract the third nettle and call it rent. ~ Carlyle

  15. #14
    THAT'S A FACT JACK!! GAC's Avatar
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    Re: Calculate your Social Security Loss...

    Quote Originally Posted by creek14
    Does anyone under the age of 55 really count on SS as their sole source of retirement income. I'm a lot closer to retirement than most of you and I have never thought of it as what I will use to live on in my retirement. I've thought of it as something that won't be there at worst and just a little icing on the cake at best.
    We're in the same boat creek. Give me the $400/month I stick into SSI and I'll get a better return on it then what the government does with it. And I'l be able to retire alot earlier then 62.

    Here here 15fan!

    Would we be having the trouble with the solvency of SSI if our illustrious politicians had kept their hands out of the cookie jar Trust fund?
    "panic" only comes from having real expectations

  16. #15
    Please come again pedro's Avatar
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    Re: Calculate your Social Security Loss...

    'Fresh Air' on NPR was all about this issue today. They had two guys on (one pro, one con) and it was really interesting. I thought both sides put up some really compelling arguments. If anyone else is intersested you go listen to it here.

    http://www.npr.org/templates/story/s...toryId=4502841
    Get your nunchucks and the keys to your dad's car. I know where we can get a gun


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