As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated
Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
that's incredible! would you mind if I vet your advisor please? started investing in stocks november 2022, but not confident to make the correct investments as of now, seeking professional help to achieve my financial goals
Amanda Kathryn Sachs'' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Awesome! I appreciate your viewpoint. I currently earn $600k per year. I have no home or investments, and my job is in New York because I work from home. I need to act quickly or else I'll owe the IRS thousands of dollars come tax season. What should I do?
To better understand the factors that could affect your finances as a beginner. To make the best decision, speak with a financial professional. They have a wealth of information regarding both current events and upcoming developments.
many people underestimate the importance of advisers until their own feelings burn them out. A few summers ago, following an ongoing divorce, I needed a significant push to keep my company afloat. I looked for licensed advisors and found someone with outstanding qualifications. She has contributed to my reserve increasing from $275k to $850k regardless of inflation.
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to send a mail to her and let you know how it goes.Thanks for sharing truly!
I'm 42, planning on retiring at 55. I've been with my employer for more than 15 years, and with the way my department treats employees, retirement can't come soon enough.
65!!!! Hell, I'm retiring in 3 years at 55. But then again, the wife and I are also leaving the country for greener pastures where our money goes 3 times farther
@rolandthethompsongunner64 sell the house, move out of the country to a place where our money goes farther. The wife will be 59.5 and collecting 401k. Then when I'm 59.5, I'll be collection my 401k, then at 62 we'll both collect SS Plenty of money will be coming in over the years to live in her country comfortably. We'll be sitting on $3k-$4k in our early sixties living in the Philippines with no stress of working. Just enjoying her family and doing some traveling.
67 and 3/4 here still working for an easy job I like, 30 hours per week with benefits still. Maybe another year until I'm ripe at 69......ss starts in march.....rock on!
My pay is too high and my benefits too good to retire. I'll have a pension so I consider myself lucky. Everyone has to enroll in Medicare. If we hadn't spent trillions on the Iraq War we would have plenty of money for Social Security.
I like the way you think. You're not looking at the age, but rather looking at the total cost of retirement. Sounds like you have a good job in which you don't HATE. For those with a good job, sometimes it's better to wait, rather than risk it and worry. To me, retiring while being worried, isn't retirement at all. But I also know some people who should call it quits because they have too much money already. It's a balancing act.
Not to justify the Iraq War in any way, but the US federal government is about $35 trillion in debt. It wasn't just Iraq. Politicians of both stripes have been conscripting our future for a long time. $35 trillion, BTW, is over $100,000 for every man, woman, and child in the US, both legally and illegally present.
Lucky SOB’s - hoping to bail in three years at 62……🤞 “If you leave your job, what are you going to be doing all day?” - Don’t worry lady, I’ll figure something out! Not grinding away on the miserable hamster wheel of Corporate America is a pretty good start!
Is your job really that horrible? Yeah...I know a few people that feel the same way. I guess something like working on GM assembly line...I would want to get out asap. GM pays well, but I can why people want to bail on a job like that.
@@JohnBowl14690 - I’ve spent the past 26 years working in a high-pressure position where all you deal with are people bitching about stuff (essentially a high-skill complaint desk) - YEAH, I’VE HAD ENOUGH……….😩 My retirement days are going to be spent out in my garage, with an ice cold Diet Coke on the work bench, some good music on the stereo, and happily tinkering away on old cars! Won’t miss my “day job” even a tiny single bit…….👍
@@ddellwo - I'm happy for you. I'd do the same and just work part time if I wanted to pick up some extra cash. My friend became a part time security guard after he retired. He basically just drives around in a truck and keeps an eye out on the property. Super easy money.
@@JohnBowl14690 - I’ve already decided that if I want a part time job in retirement I want to drive the service shuttle at a car dealership taking people back home or to their office after dropping off their vehicle for service!
If Congress eliminated the income threshold cap, Social Security would have no need to cut benefits for at least 75 years. 93% of Americans pay Social Security taxes on all income. Millionaires and billionaires get a large tax break and now there is talk of cutting Social Security benefits. Simple fix - this should be an issue we unite to achieve.
Benefit proportion to tax paid go down the more you make. It's called the replacement ratio. Look it up. Benefits are capped with the tax cap. You are demanding more of what isn't yours like any mugger. I have paid into social security for 47 years. When I calculate what I paid as if it had been invested every year, that should pay me far more than my SS benefit, plus it would be mine and my heirs forever. Plus my employers paid just as much as I did, so the return should be more than double. But no. It's a "pay as you go" system, which when Ponzi did it was called illegal.
@@Sylvan_dB “any mugger” lololol what a 🤡. Millions of seniors living in poverty or those with the most paying their fair share. Seems like an easy choice (for those who aren’t self centered narcissists at least).
@@Sylvan_dB Your money isn’t your life dude. The wealthiest paying enough to ensure the viability of Social Security would only meaning everyone pays the same percentage of their income. It’s social insurance that is supposed eliminate poverty among the elderly in our society. That you would like the wealthy sitting on their wealth like Scrooge McDuck as millions of elderly suffer benefits cuts that would meaning the rest do their life in poverty is telling.
my sister turned 65 this year. She works in a pretty good health profession, at a hospital, she still not going to be able to retire this year. What a lot of people don’t know, about Medicare, and they will not help pay for hearing aids, which are extremely expensive, or they don’t help pay for vision or dental. All those three things are very expensive. So she will still have to work even though she gets to go on Medicare. She will still have to work. For what she does for a living her body is falling apart, but she has no choice,
What is covered by Medicare Advantage plans might surprise her. If you are willing to compromise a little on your universe of doctors, you can end up spending less on healthcare (including basic vision and dental) than you did on your company plan, as I did when I shifted to Medicare. Just shop for a plan that is suited for your health profile.
I've had Medicare Advantage for years, and not only does it cover hearing aids, dental and vision, it can save retirees money every year. Too bad more people don't take the time to research it and just assume they have no other options.
People at 65 now are still under the " old system"..meaning they came into a workforce when companies had pensions , long term benefits , a stable workplace and affordable housing that was nice in their lifetime Those under 50 right now face a very changed world
I started my Roth IRA at 25 years old, and maxed it every January until I retired at 50. Also at around 25 started “collecting” my very diverse stock portfolio. No kids, no mortgage, no car payments. People DON’T plan, then cry the blues. 🤔🤷🏼♂️
We all start at different places and have had different life events. I can't stand people who crow about their IRA and early retirement. Good for you, but people's situations aren't necessarily because they didn't plan.
I retired 10 years ago at 53. I saw all these financial issues on the horizon. I solved all these problems by moving to another country. I live on $1500/month and the best part is not having a schedule or have to show up for anything. Why would anyone work if they don’t have to?
Game of life is different for everyone...to assume different is ignorant....someone born with no legs isn't playing the same game as you chief...that's just 1 of countless examples..
I ‘ll be turning 65 yo in Nov 2024… in France… 😂still working as a retired psychiatrist …too old to work full time and too young to retire full time! And i still love my job ! 🎉
Peak 65 is important for what happens in the next 10 years, average lifespan in US is around age 77, so in 2030's Boomers will be dying en masse. This is going to cause the MOST IMPORTANT EVENT IN FINANCIAL HISTORY. Boomers represent 20% of population but own 50% of US assets, collectively Boomer assets are estimated at $68 TRILLION DOLLARS and growing, we did well. Because of redistribution of Boomers wealth, we are going to cause the most important financial event in history as that $68 trillion in wealth transfers to our heirs, trillions annually. Trillions put in motion, reinvested, spent plus the multiplier effect from all that spending is an upcoming economic boom never seen before in history. Redistribution of $68 trillion has never happened before and that much flowing will cause a long term economic boom. BUT, after the 2030's spending boom comes the 2040's bust, when Boomers wealth is exhausted, without those trillions of annual spending, without the multiplier effect of that spending, comes the bust, since US economy is based on spending, that spending bust will be a depression. Can't fight math.
More important than the invention of money or the establishment of markets and trading or stock markets in particular or the devastation of WWII? Besides, most of that money won't be spent all at once, so you are looking at $68T (assuming your numbers) slowly changing hands from one group that spends some and retains most each year to another group that spends some and retains most each year. BTW, the average lifespan of people who have already made it to 65 is much more than 77; more like 83.
Actually , there are more people paying in to Social Security now than 10 years ago , and with all the new people coming in to The US everyday the number of people contributing to Social Security will increase by almost double in the next 5 years , and not to be insensitive but we lost hundreds of thousands of Social Security Beneficiaries from Covid 19 , plus the new plans to make sure the Rich pay into Social Security will help .The future of Social Security looks bright .
Which is why it is so important that we get all those new immigrants processed quickly, so they can legally work here. They can’t pay into social security if they are undocumented. But instead of spending tax dollars on facilities that would make the process more efficient, we waste it on bus trips to other states.
@@rolandthethompsongunner64yes. Actually. We are at one of the lowest unemployment rates in history. There are literally hiring signs everywhere. You know why? No grown adult wants to work $7.25 an hour. The minimum wage is still, 15 years later, $7.25. There are fast food and retail jobs that are offering TWICE that because of how desperate they are for workers. There are businesses in my own town that basically shut down BECAUSE they couldn’t find anyone able to work. They can’t rely solely on teenagers because they have school, and need people to work days. The thing is, our country was built on hardworking immigrants. They are the ones working the fields, slaughter houses, factories, etc. They are the ones mowing our lawns, cleaning our houses, heck BUILDING our houses. Unfortunately there’s a lot of undocumented workers in these fields that rely on one single legal citizen that contracts out to them. When immigration cracks down, the system breaks. My elderly mother no longer could use her landscaper because they lost a large percentage of their labor force. Her cleaning lady, who is 100% legal, known her for about 20 years, had to skip a week or two because she was held up at the border. They don’t have to be citizens. Just give them work visas. Let them pay taxes. Right now they’re not, and instead, costing us taxpayers to keep them out, when we just need someone to flip burgers during the lunch shift.
Easy fix--remove the income cap. It's done. 95% of Americans pay social security tax all year round--make it 100 percent and forget about it for half a century.
And increase the social security INSURANCE payment for those higher income individuals? Or just turn it into another income tax, exposing the lie that was social security right from the beginning?
Id collect if I was 65 right away I know some people waiting a couple more years. I got 35 years of work ahead. Can't those collecting SSI get section 8 if needed for rent. This is a government spending silver tsunami.
America needs to implement a Domestic Debt Forgiveness Act. Taxpayers should have the option when entering the workforce to opt into SSI. Cash those who don't want SSI out of the program.
It becomes insolvent if those incomes over $70K aren't credited for 10% towards retirement and 90% towards supporting SSDI and subsidizing lower incomes.
@dustinroe7874 SSI is going insolvent without those incomes as we speak. Taxpayers that don't want SSI should be cashed out depending on age range and taxes paid into SSI and other Federal Social Programs. For citizens that want to stay opted into the program, the government needs to find out how many and how much money the SSI pot will need to pay them benefits. Once that's done, an Iron Clad law/ agreement needs to be put on it stating the government can raid the pot anymore. That last part is very wishful thinking.
Bless all you the good news rejoice Jesus Christ the son of god is returning soon. The son of man and son of god had done wonderful then like helping the sick and injured, wake on water, cast out demons, feed the many, make the bline see, and raise the dead. Believe Jesus died for your sin with his blood. Buried for three days. An on the third day rose in a glorified body we to will have in the rapture. Repent your sins or face gods wrath of the great tribulation. There be 21 wraiths and if your there in this time don’t take the mark of the beast and accept death in faith to Jesus Christ. The mark be on forehead or right hand. Jesus love and cares about you he will help you feel that hole in your heart all he ask is for you to accept him as your lord and savior and learn about him. spread the message please.......
@@AmericanScout-USA Inflation was only 1.36 on Trump's last day in office. That all changed when Old Joe signed executive orders on his first day in office cancelling Trump's economic policies. Facts matter
@@MaryLopez-em3rc Of course, they won't pay much into the SS system and will receive much more than they paid in, if allowed to. And they help keep our current underclass down and out and with no or low-paying jobs.
@@justliberty4072 I live in a highly agricultural area in SoCal, I don’t see Americans flocking to pick strawberries. If someone pays into social security for the amount of quarters required, they should get it when eligible. Millions of Americans who never worked a day in their lives receive social security on a spouses or parents record, someone has to pay for it.
yeah, because the party you like to call a bunch of socialists are going to take away a socialist safety net. please use common sense before you speak.
As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated
sure there are loads of ways to make a killing right now, but such high-volume near impeccable tradess can only be carried out by real-time experts.
Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
that's incredible! would you mind if I vet your advisor please? started investing in stocks november 2022, but not confident to make the correct investments as of now, seeking professional help to achieve my financial goals
Amanda Kathryn Sachs'' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I'm 50 planning to retire at 53. I can't freaking imagine having to wait until 65. or keep working because you "love" what you do F that.
Retired a few years ago and it’s this . Never ending weekend holiday off and vacation .
I’m right there with you. I’m 48 turning 49 next month and planning to retire at 55. Enjoy life while you still can.
I retired 8 weeks ago, at age 62. My wife retired before me and we are both loving every minute of it.🎉🎉🎉🎉🎉
i retired at 37 and I'm loving it too!
Congratulations 🎉🍾
Billions a year for other countries and endless wars, but we have to cut social security. Tell me again how much our government loves us.
You forgot "tax cuts for the rich". Since 1980 you have been phucked.
And also for illegal aliens.
we need trump back so we can finally cut all taxes and social welfare for the elderly
@@Username_CC_ Nah, he won't cut it. He'll just let Wall Street "manage" it for the yokels. I'm sure they won't be bled dry in a few years.
When will this retirement age be applied to politicians?
I retired 8 years ago. I love being retired. So grateful to not have work in this crazy era.
Awesome! I appreciate your viewpoint. I currently earn $600k per year. I have no home or investments, and my job is in New York because I work from home. I need to act quickly or else I'll owe the IRS thousands of dollars come tax season. What should I do?
To better understand the factors that could affect your finances as a beginner. To make the best decision, speak with a financial professional. They have a wealth of information regarding both current events and upcoming developments.
many people underestimate the importance of advisers until their own feelings burn them out. A few summers ago, following an ongoing divorce, I needed a significant push to keep my company afloat. I looked for licensed advisors and found someone with outstanding qualifications. She has contributed to my reserve increasing from $275k to $850k regardless of inflation.
That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to send a mail to her and let you know how it goes.Thanks for sharing truly!
I'm 42, planning on retiring at 55. I've been with my employer for more than 15 years, and with the way my department treats employees, retirement can't come soon enough.
just leave. love will find a way
@BuildNumber42 if I did, I'd be a fool to. Decent benefits, good pay, and a pension. I'll suck it up for 13 years 8 months.
so long as it doesn't destroy you before you get there.@@orion3706
Can’t wait to have social security take money now and not be giving out amounts worth paying into it🙌🏾
While the democrats pay for student loans and send money to Ukraine while funding the border crisis .
@@JustmekpcYou think just Republicans take from social security...how cute.
Can’t even do it unless your house is paid off.
65!!!! Hell, I'm retiring in 3 years at 55. But then again, the wife and I are also leaving the country for greener pastures where our money goes 3 times farther
BYE BYE!!
How are you retiring at 55 ?
I'll never retire. So that's cool
@@SubvertTheState Well I wish you luck. I will probably die before I can ever retire. 😂
@rolandthethompsongunner64 sell the house, move out of the country to a place where our money goes farther. The wife will be 59.5 and collecting 401k. Then when I'm 59.5, I'll be collection my 401k, then at 62 we'll both collect SS Plenty of money will be coming in over the years to live in her country comfortably. We'll be sitting on $3k-$4k in our early sixties living in the Philippines with no stress of working. Just enjoying her family and doing some traveling.
67 and 3/4 here still working for an easy job I like, 30 hours per week with benefits still. Maybe another year until I'm ripe at 69......ss starts in march.....rock on!
My pay is too high and my benefits too good to retire. I'll have a pension so I consider myself lucky. Everyone has to enroll in Medicare. If we hadn't spent trillions on the Iraq War we would have plenty of money for Social Security.
Possibly. If they weren’t funneling funds from it to pay down the deficit. 😂
I like the way you think. You're not looking at the age, but rather looking at the total cost of retirement. Sounds like you have a good job in which you don't HATE. For those with a good job, sometimes it's better to wait, rather than risk it and worry. To me, retiring while being worried, isn't retirement at all. But I also know some people who should call it quits because they have too much money already. It's a balancing act.
@@JohnBowl14690 That was the litmus test. I do like my job. if I hated it I would retire and work a part time job
Not to justify the Iraq War in any way, but the US federal government is about $35 trillion in debt. It wasn't just Iraq. Politicians of both stripes have been conscripting our future for a long time. $35 trillion, BTW, is over $100,000 for every man, woman, and child in the US, both legally and illegally present.
Lucky SOB’s - hoping to bail in three years at 62……🤞
“If you leave your job, what are you going to be doing all day?” - Don’t worry lady, I’ll figure something out! Not grinding away on the miserable hamster wheel of Corporate America is a pretty good start!
Is your job really that horrible? Yeah...I know a few people that feel the same way. I guess something like working on GM assembly line...I would want to get out asap. GM pays well, but I can why people want to bail on a job like that.
@@JohnBowl14690 - I’ve spent the past 26 years working in a high-pressure position where all you deal with are people bitching about stuff (essentially a high-skill complaint desk) - YEAH, I’VE HAD ENOUGH……….😩
My retirement days are going to be spent out in my garage, with an ice cold Diet Coke on the work bench, some good music on the stereo, and happily tinkering away on old cars!
Won’t miss my “day job” even a tiny single bit…….👍
@@ddellwo - I'm happy for you. I'd do the same and just work part time if I wanted to pick up some extra cash. My friend became a part time security guard after he retired. He basically just drives around in a truck and keeps an eye out on the property. Super easy money.
@@JohnBowl14690 - I’ve already decided that if I want a part time job in retirement I want to drive the service shuttle at a car dealership taking people back home or to their office after dropping off their vehicle for service!
@@ddellwo lol lolDon't forget the jerks you have to pickup and drop off. Lol Don't expect tips?. lol lol
If Congress eliminated the income threshold cap, Social Security would have no need to cut benefits for at least 75 years. 93% of Americans pay Social Security taxes on all income. Millionaires and billionaires get a large tax break and now there is talk of cutting Social Security benefits. Simple fix - this should be an issue we unite to achieve.
Benefit proportion to tax paid go down the more you make. It's called the replacement ratio. Look it up. Benefits are capped with the tax cap. You are demanding more of what isn't yours like any mugger.
I have paid into social security for 47 years. When I calculate what I paid as if it had been invested every year, that should pay me far more than my SS benefit, plus it would be mine and my heirs forever. Plus my employers paid just as much as I did, so the return should be more than double. But no. It's a "pay as you go" system, which when Ponzi did it was called illegal.
@@Sylvan_dB “any mugger” lololol what a 🤡. Millions of seniors living in poverty or those with the most paying their fair share. Seems like an easy choice (for those who aren’t self centered narcissists at least).
@@Ranchopdx What exactly is your"fair share"? What is my "fair share"? How much of other peoples' lives do you feel entitled to take?
@@Sylvan_dB Your money isn’t your life dude. The wealthiest paying enough to ensure the viability of Social Security would only meaning everyone pays the same percentage of their income. It’s social insurance that is supposed eliminate poverty among the elderly in our society. That you would like the wealthy sitting on their wealth like Scrooge McDuck as millions of elderly suffer benefits cuts that would meaning the rest do their life in poverty is telling.
my sister turned 65 this year. She works in a pretty good health profession, at a hospital, she still not going to be able to retire this year. What a lot of people don’t know, about Medicare, and they will not help pay for hearing aids, which are extremely expensive, or they don’t help pay for vision or dental. All those three things are very expensive. So she will still have to work even though she gets to go on Medicare. She will still have to work. For what she does for a living her body is falling apart, but she has no choice,
What is covered by Medicare Advantage plans might surprise her. If you are willing to compromise a little on your universe of doctors, you can end up spending less on healthcare (including basic vision and dental) than you did on your company plan, as I did when I shifted to Medicare. Just shop for a plan that is suited for your health profile.
Do your research. Medicare Advantage is private equity. You will lose on that for-profit plan. Regular Medicare is the way to go.
I've had Medicare Advantage for years, and not only does it cover hearing aids, dental and vision, it can save retirees money every year. Too bad more people don't take the time to research it and just assume they have no other options.
@@f.l.stockman651I agree. I actually have more savings now with Medicare Advantage. Would never go back to traditional Medicare.
everything is too expensive to retire. Depending on social security is like poverty.
Like poverty?😂
The "S" in SSI is SUPPLEMENTAL. Its your supplemental income not only income. If you didn't save then you get to keep working
People at 65 now are still under the " old system"..meaning they came into a workforce when companies had pensions , long term benefits , a stable workplace and affordable housing that was nice in their lifetime
Those under 50 right now face a very changed world
I started my Roth IRA at 25 years old, and maxed it every January until I retired at 50. Also at around 25 started “collecting” my very diverse stock portfolio. No kids, no mortgage, no car payments. People DON’T plan, then cry the blues. 🤔🤷🏼♂️
We all start at different places and have had different life events. I can't stand people who crow about their IRA and early retirement. Good for you, but people's situations aren't necessarily because they didn't plan.
I retired 10 years ago at 53. I saw all these financial issues on the horizon. I solved all these problems by moving to another country. I live on $1500/month and the best part is not having a schedule or have to show up for anything. Why would anyone work if they don’t have to?
Thank you for your service, now retire and get out of the way.
At age 65 you should have some wealth built. If you don't. You played the game of life wrong.
For the most part, that’s true but life does throw curve balls.All the best.
Game of life is different for everyone...to assume different is ignorant....someone born with no legs isn't playing the same game as you chief...that's just 1 of countless examples..
Especially if you’re a boomer. They grew up and lived in the most prosperous time in history.
yes, you SHOULD have built some wealth however not everyone is playing on the same game board that you are.
Big crisis. Healthcare cost gonna skyrocket EVEN MORE.
So will housing and rent prices.
Na
@@AmericanScout-USA Sure that’s an option. But many of those countries are unstable. Not to mention the cost of moving.
@@AmericanScout-USA Again which countries? Interesting how you don’t support your post but attack me as to cost of moving. 😂
@@AmericanScout-USA Like Mexico or Cuba ?😂
I am 54 and have my sites on 62. Taking SS sooner than later and leaving the work / rat race behind.
I ‘ll be turning 65 yo in Nov 2024… in France… 😂still working as a retired psychiatrist …too old to work full time and too young to retire full time! And i still love my job ! 🎉
Wonder how many of these people will be able to retire.
But will they actually retire? Might be too expensive to retire 🤨
She talks like continuing to work past 65 is a choice
Got to get it before it’s gone
Peak 65 is important for what happens in the next 10 years, average lifespan in US is around age 77, so in 2030's Boomers will be dying en masse. This is going to cause the MOST IMPORTANT EVENT IN FINANCIAL HISTORY. Boomers represent 20% of population but own 50% of US assets, collectively Boomer assets are estimated at $68 TRILLION DOLLARS and growing, we did well. Because of redistribution of Boomers wealth, we are going to cause the most important financial event in history as that $68 trillion in wealth transfers to our heirs, trillions annually. Trillions put in motion, reinvested, spent plus the multiplier effect from all that spending is an upcoming economic boom never seen before in history. Redistribution of $68 trillion has never happened before and that much flowing will cause a long term economic boom. BUT, after the 2030's spending boom comes the 2040's bust, when Boomers wealth is exhausted, without those trillions of annual spending, without the multiplier effect of that spending, comes the bust, since US economy is based on spending, that spending bust will be a depression. Can't fight math.
More important than the invention of money or the establishment of markets and trading or stock markets in particular or the devastation of WWII? Besides, most of that money won't be spent all at once, so you are looking at $68T (assuming your numbers) slowly changing hands from one group that spends some and retains most each year to another group that spends some and retains most each year. BTW, the average lifespan of people who have already made it to 65 is much more than 77; more like 83.
I'm 47 and will be eligible for retirement at 55. No way am I working past 60 let alone 65.
Actually , there are more people paying in to Social Security now than 10 years ago , and with all the new people coming in to The US everyday the number of people contributing to Social Security will increase by almost double in the next 5 years , and not to be insensitive but we lost hundreds of thousands of Social Security Beneficiaries from Covid 19 , plus the new plans to make sure the Rich pay into Social Security will help .The future of Social Security looks bright .
Which is why it is so important that we get all those new immigrants processed quickly, so they can legally work here. They can’t pay into social security if they are undocumented. But instead of spending tax dollars on facilities that would make the process more efficient, we waste it on bus trips to other states.
@@UmmYeahOk Do you think there are 5 to 8 million jobs available for these people?😂
@@rolandthethompsongunner64yes. Actually. We are at one of the lowest unemployment rates in history. There are literally hiring signs everywhere. You know why? No grown adult wants to work $7.25 an hour. The minimum wage is still, 15 years later, $7.25. There are fast food and retail jobs that are offering TWICE that because of how desperate they are for workers. There are businesses in my own town that basically shut down BECAUSE they couldn’t find anyone able to work. They can’t rely solely on teenagers because they have school, and need people to work days.
The thing is, our country was built on hardworking immigrants. They are the ones working the fields, slaughter houses, factories, etc. They are the ones mowing our lawns, cleaning our houses, heck BUILDING our houses. Unfortunately there’s a lot of undocumented workers in these fields that rely on one single legal citizen that contracts out to them. When immigration cracks down, the system breaks. My elderly mother no longer could use her landscaper because they lost a large percentage of their labor force. Her cleaning lady, who is 100% legal, known her for about 20 years, had to skip a week or two because she was held up at the border.
They don’t have to be citizens. Just give them work visas. Let them pay taxes. Right now they’re not, and instead, costing us taxpayers to keep them out, when we just need someone to flip burgers during the lunch shift.
Say goodbye to social security and Medicare.
Easy fix--remove the income cap. It's done. 95% of Americans pay social security tax all year round--make it 100 percent and forget about it for half a century.
And increase the social security INSURANCE payment for those higher income individuals? Or just turn it into another income tax, exposing the lie that was social security right from the beginning?
I'm one of them!
"nO oNe wAnTs tO wOrk aNyMoRe!!!!"
The baby boomers ate it....
Id collect if I was 65 right away I know some people waiting a couple more years. I got 35 years of work ahead. Can't those collecting SSI get section 8 if needed for rent. This is a government spending silver tsunami.
America needs to implement a Domestic Debt Forgiveness Act. Taxpayers should have the option when entering the workforce to opt into SSI. Cash those who don't want SSI out of the program.
It becomes insolvent if those incomes over $70K aren't credited for 10% towards retirement and 90% towards supporting SSDI and subsidizing lower incomes.
@dustinroe7874 SSI is going insolvent without those incomes as we speak. Taxpayers that don't want SSI should be cashed out depending on age range and taxes paid into SSI and other Federal Social Programs. For citizens that want to stay opted into the program, the government needs to find out how many and how much money the SSI pot will need to pay them benefits. Once that's done, an Iron Clad law/ agreement needs to be put on it stating the government can raid the pot anymore. That last part is very wishful thinking.
Peak 65 , the youngest baby boomers retiring…
Government has to pay all these people boom
Time to retire boomers, we need more jobs! Job market is trash.
The baby boomers are retiring!!!!!!!!!!
What will you be doing all day 🤪 . Working part time or extended weekend and vacation forever for some .
Bless all you the good news rejoice Jesus Christ the son of god is returning soon. The son of man and son of god had done wonderful then like helping the sick and injured, wake on water, cast out demons, feed the many, make the bline see, and raise the dead. Believe Jesus died for your sin with his blood. Buried for three days. An on the third day rose in a glorified body we to will have in the rapture. Repent your sins or face gods wrath of the great tribulation. There be 21 wraiths and if your there in this time don’t take the mark of the beast and accept death in faith to Jesus Christ. The mark be on forehead or right hand. Jesus love and cares about you he will help you feel that hole in your heart all he ask is for you to accept him as your lord and savior and learn about him. spread the message please.......
Amen
No body wants to work anymore
Lol who is saving...few and far between.
Have republicans done anything useful this century? Can anyone name one real thing?
Last one put us 8 trillion in debt an tax cuts for corporations an the rich so not a damn thing
Magats
Better keep working as long as bidenomics is around.
@@AmericanScout-USA Inflation was only 1.36 on Trump's last day in office. That all changed when Old Joe signed executive orders on his first day in office cancelling Trump's economic policies. Facts matter
Bye bye baby boomers!!!!
Whiile 12000 immigrants cross the border 😂😂😂
Those young immigrants will eventually work and pay into the social security system for the old f’s to collect.
@@MaryLopez-em3rc damn they will. But not enough to cover the burden and all the benefits they get. A kids costs 45000 on average.
@@MaryLopez-em3rc Of course, they won't pay much into the SS system and will receive much more than they paid in, if allowed to. And they help keep our current underclass down and out and with no or low-paying jobs.
@@justliberty4072 I live in a highly agricultural area in SoCal, I don’t see Americans flocking to pick strawberries. If someone pays into social security for the amount of quarters required, they should get it when eligible. Millions of Americans who never worked a day in their lives receive social security on a spouses or parents record, someone has to pay for it.
And those who make too little to “save” are just supposed to live and die in poverty because the USA can’t manage money.
Scam
Get your 401k into hard gold ASAP
Iowa corn gold?
Why are there no men in journalism anymore?
The pay is too low
retire before the Dems cancel social security
It's the Republicans who want to end Social Security.
No one is canceling SSI. Just stop
Without Dems there would literally be no social security.
if that were to happen....it would be by the Republican Party
yeah, because the party you like to call a bunch of socialists are going to take away a socialist safety net. please use common sense before you speak.