Social security- the way I understand it is that between the monthly benefits and medical benefits you go on the public dole after 5 1/2 years. The amount you've paid into it is easily discovered thru the social security website. Do I agree with SS ? Nope. 401k's do a lot better. Forced excepted Socialism is how I look at social security.
Baby boomers - I guess I'm one, born in 1959. Gonna work till I'm 73 1/3 , that's my choice. That will give me 50 years trailer trucking.
BUT- I could retire at 62 1/2 and collect a bunch of money I never paid into the system. Do I agree with the system? Heck no! My 401k does a lot better than 0% interest. I saved and invested to retire, don't want nothing I didn't earn.
Millennials- are you kidding me? How many of you have kids born on or after 1982 that are not lazy worthless so & so's? Speak up, let's hear about your worthless kids. My grandfather- kids of today. My father- kids of today. Me- kids of , oops, my kids picked ocra & cucumbers for extra money after school as did most kids around here. My grandfather's kids fought in Korea, my father's kids threw hay for $5 a day & lunch from can't see till can't see. And see the above for my kids. What we call millennials are a small percentage of the folks born in the era we have designated 'millennials'. I'll not except it.

What's your point?

You're really cool. That horse was beaten in the original thread a week or two ago.

Well, I liked it...

What part?

Good for you, can I have all your earned dollars you put into SS any way seeing as your not going to use it ? Just how do you figure you don't pay into the program any way ?

I don't see taking something I've been paying in to for many years as accepted socialism, I see it as finally being able to receive what I was forced into when I started working.

I agree with Grit. It is more like Communism. State ownership of a retirement and disability program.

Isn't what you're receiving being paid by current wage earners? And what you earned was spent by the previous generation?

I'll be the devils advocate here and question how many retirees would have anything saved if left to their own devices.

It's a massive Ponzi Scheme

And most receive way more than they contributed

Fail it will

How many have 401Ks and or Roth IRAs and or savings accounts. That will be your answer.

One report said right now only 50% of families have any savings at all. Only 13% have pensions and I'm sure some of those are underfunded.

If there was no SS, wouldn't people actually realize that they gotta save now or starve later? Personally I invest every spare dollar into my taxable stock account. I have no desire to work when I'm old, but if other people don't have the discipline to take care of their own retirement then (This word is unacceptable on Trapperman) on them. You make your bed you gotta lay in it.

In a perfect world everyone would be responsible for themselves, but that's not where we live.

I have a 403b and an IRA. I dont plan on Social Security still being around when I retire despite my contributions.

Like someone else said....its a Ponzi scheme and once ended there will be millions left with nothing to show for it.

So, I keep reading only 1/3 of Americans save money in a 401K. Sounds bad, but I'm guessing this includes retired, under 18, non working, pensioned, etc. Do young workers ( say under 35) really need to start saving?

I'm a millennial, 32 years old, born in 85. I've been married just over 12 years, have two sons- 10 and 12 and my daughter will be born any day. I have a 401k that I put 16% into and my company matches 5%. I also have a pension, which, when I can retire at 65 will get me about $3,200.00 per month. I've worked since I was 11 years old (no, not full time but I did what I could while in school). I pay my mortgage, keep the lights on, have food in the fridge and take care of my wife and kids. All "millennials" are not the same. Oh, and I know how to change a light bulb......

Yes, Dirt! Never to early to start saving.

Savings is not encouraged, look at interest rates. Investing in the stock market is the only viable way to have a chance at a retirement today.

That piece of paradise you own is rented from the government.

We are manipulated from birth to death.

Salmon fishing starts soon.

Generally it is a 1/3 of Americans of working age that they are polling.




Absolutely! From the day you start earning you should start saving.