User avatar
By eriknben10
#489231
When the Social Security program was initiated in 1935, the average life expectancy was 61 years old. Considering that the average age for retirement has remained consistently around 65, beneficiaries in the early years of the program were receiving payment for a much shorter time.
User avatar
By JW
#489232
Stinky Pete wrote:
JW wrote:SS was designed to give retired workers 65 and older a continuing income.


That much I agree with.

Do you agree it was and still is not enough to live on? And if it's not would it not be a supliment to your income?
#489233
No. I don't know how far the money went in 1935, but I've never seen anything that says its original intent was to supplement something else. It was all most people had at that time.

Nowadays I can't imagine living off our $25k, or whatever the number will be, of social security.
User avatar
By eriknben10
#489234
While you might be correct that some people had to live off of SS, the assumption that most did is false. In fact the life expectancy in those days was below the allowable age to even collect it.
User avatar
By eriknben10
#489236
Then you should agree that SS was designed to be old-age assistance and nothing more.
User avatar
By eriknben10
#489238
I suppose if you want to get into semantics you won't understand the similarities between "supplementing" and "assistance" I won't need my SS but I do think the system is a big ponzi scheme that has past it's prime. Take early retirement and invest the money until full retirement, odds are you will double your retirement check.
User avatar
By JW
#489239
eriknben10 wrote:I suppose if you want to get into semantics you won't understand the similarities between "supplementing" and "assistance" I won't need my SS but I do think the system is a big ponzi scheme that has past it's prime. Take early retirement and invest the money until full retirement, odds are you will double your retirement check.

Most people who collect SS receive everything they paid in within the first few years.
I think I remember!you saying your wife still works. If so why?
  • 1
  • 59
  • 60
  • 61
  • 62
  • 63
  • 65