Dream on, as the company my retirement was through, went bankrupt !
So now the government covers it!
Funny how the owner of said company , has many more companies still running.
Guess it's who know what strings to pull.

Well, you're not wrong but you're also not accounting for the direct medicare payments that have came out of my paychecks for all of my life. Not a lot different than SS really. Both examples of the government feeling they know how to spend my paycheck better than I do.

People who rely on ACA have not contributed through forced monthly paycheck deductions. So, while I am not a fan of ANY of those programs, OR unemployment insurance which you also mentioned, at least those people taking advantage of those taxpayer funded programs have at least contributed SOMETHING towards them as opposed to those relying on ACA.

I imagine SS will be broke by the time I would be old enough to collect on it. At least, I don't plan to rely on it. It's likely I'll have paid into it all my life to never see a dime of it.

If you look at what’s paid in to SS and Medicare by the employers and people over the years it’s not much compared to what we will get in return but no politician will touch it to keep his job. It’s an underwater formula for people that’s poorly managed but nobody is in a hurry to pay more into it.

I was tired yesterday and am re-tired today.

No such thing as "early retirement." You retire when you can afford to (and want to) based on your post retirement income and expenses. That includes the expense of health insurance. If you want to retire at a relatively young age, let's say under 60, you have to plan ahead. The planning has to include savings and investments but working for an employer that has employee health insurance and allows retirees to continue on the plan until you go on Medicare is a huge help.

Well. there is a large percentage of people that retire with less then1 million. With SS and a withdrawal from stash can easily live a great life. People that live like Kings and Queens everyday could be a problem. Most all things I do in life that I love to do are free or almost free.

Most people won't retire because they don't feel some else can do their job or don't have a life without their job. I know people with millions and slave away everyday and most all of them will die in the harness.

Only about 10% of American retirees have at least $1 million saved, according to the Federal Reserve’s Survey of Consumer Finances.
One source says from 84% to 90% do not have a million dollars in portfolio this excludes any real estate. Not net worth but dollars alone.

X2 - well said.

Getting on ACA is no different than food stamps or welfare, pay your own way.

I thought (maybe wrong) that you were fined if you did not get on Obama care. I know a lot of people that could not afford it a while back. Mainly small business owners......jk

You’re getting a little closer

You say people who rely on ACA have not contributed through forced monthly contributions. If that’s true, please try not paying federal income tax and let us know how it goes.

I’m neither defending nor condemning these programs. I’m just pointing out that the difference you think you see is not real.

On SS I’ve made the comment for years: I wonder how perceptions will change as they flirt with means testing. That turns it into “welfare for old people”.

Perhaps if you select a plan that has almost no premiums but I just did my kid's taxes yesterday and his ACA plan's monthly premiums are about $300 that come out of his check. I don't know the percentages of people who pay that sort of monthly premiums but at least in that case it is not the same as SNAP (food stamps) or WIC or whatever else you throw into "welfare".

SS I don't see ever going away. It will be reduced in payments, have to wait longer to get the benefits, more deductions for the program from W2's, rules will change and so forth to hedge off any closure of that program.

One problem is the funding has less people paying in then going out and that will be continuing as baby bummers are still entering the SS age.

This is what the experts on the subject say will happen. It's not what I thought up but I do see that happening before the program is discontinued though.

People talk about the SS Retirement system going "broke" and they think they will never get anything out of it at some point in the future. That won't happen unless robots replace all W-2 and some 1099 (I don't understand all of the types) workers and no SS money is taken out of regular paychecks.

What will happen, predicted by the earl;y 2030s, is that SS Retirement will not be able to pay out what they have been telling people their monthly checks will be in the past because there will always be more money coming into the system (unless described above). I think the current estimate is about a 20% haircut starting after 2032.

Ok, an example. Say you turn 61 this year and so your full retirement (when SS can no longer mess with how much you can make in a job after you start taking it) is at 67 in 2032. And right now SS is promising you $2,000 a month. Thus, if payments are reduced by 20% starting after 2032, you would get $1,600 a month.

But at 67 (the full retirement age for most people born in 1960 and later) you can make whatever you want a year and still get your SS Retirement payment whereas right now, if you take SS Retirement at age 62 through age 67, you give back $1 for every $2 you make over a certain amount. I don't know what that was in 2025 but it had been around $25,000.

If you read my post you can see that I meant in addition to "regular" taxes not earmarked for that specific program. But, then again, as to your point, it would be interesting to know how many people that do rely on ACA are in an income range that has them not paying federal income tax, but instead receiving a refund? Where's dirt when you need him, LOL.

yote30- You do realize that people can get a tax return refund AND still pay federal income tax, correct...?

If I end up having $20,000 taken out in withholding and over pay by $2,000, I will get that 2 grand back as a refund. BUT I still paid $18,000 in income tax.

Correct..?

Good luck on your retirement. As far as the ones birching about what insurance plan you got or get I'm thinking you paid into the program far more than many so pay them no attention. Not sure how this post went so sideways but I'm thinking jealousy.

snowy, SS could be fixed but they don't want to do it because it's a taboo topic. I personally have no problem paying an extra 1 or 2 percent to help fund it. I can't remember what politician said several years back that if we'd implement that small increment it would make the program solvent. I'm not sure if that still holds true but it's worth looking into. However I'd also get the people off of it who didn't pay anything into it as well. That means the spouses that didn't hold jobs but get half of what the working spouse gets would be out.

I think the politician who said that may have been a guy out of Ohio named John Boehner.

Correct. I didn't word that as well as I could have. Was referring to those that receive more in a refund than what they pay in.

In real life you could not retire on what you pay into SS and Medicare it’s just not enough that is paid into it but increasing the payments to realistic levels is not popular. Plus the government is not the best guardian when it comes to handling money unlike a private company that has people to answer to. With people living longer the formula gets out of whack quickly.

People pay $300 a month for ACA coverage, I pay $350 a month just for my supplement coverage alone now and it goes up every year I wonder is the plan to make it unaffordable in the future to save the company money or do they just hope I die. LOL

The way I understand it when you’re working you pay for the people currently on SS, you are not banking your own money to use in retirement. Think about how fast you would go through your little stash. There won’t be enough workers contributing to pay for all of us boomers.

I’m saying that paying in with no COLA increases paid in its a formula for failure in the long run then added payout increases that is the nail in the coffin. IMO Like you say less folks contribute its not looking good with AI and the current view of the new “workforce” that’s a dim outlook for sure.