Talk of The Villages Florida - View Single Post - Social security information
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Old 07-03-2013, 01:44 PM
Bill Tasker Bill Tasker is offline
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Quote:
Originally Posted by buggyone View Post
It is downright amazing that some posters actually believe that Social Security was ever meant to be their sole method of retirement income during their retirement life.

It was and is a supplemental source of income based upon your work income during your earning years.

What ever happened to the idea of putting something aside each payday in a savings account or investment income?

Even the 401k plans from your employer helped by matching your investments into the 401k as did IRA accounts.

Stop blaming the Social Security System and point the finger at yourself if you do no have enough savings to get you through retirement.
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That's a pretty bold statement and spoken like someone who represents the 1% we are always hearing about. Social Security was introduced during the great depression when it was feared that a large percentage of Americans, especially seniors had fallen below the poverty line. It was never inteneded as "supplemental income." I suppose if you are fortunate enough to have a pesnion and or savings, 401K, IRA, etc. , you may consider SS a supplement.

The reality is people are hurting today. It takes everything you make just to get by. Very few households have any "disposable" income. Savings vanished along with pensions and not every employer contributes to a 401K. In my personal opinion, our country has been on a finaicial spiral since the Regan plunder of deregulation and voodoo economics. Small businesses and even many large corporations disappeared through mega mergers. Many people, myself included lost our careers and lived on what savings we had until we could find replacement employment, which was never equivilant in salary or benefits. My employer at the time, merged with a larger firm, bankrupted our pension plan and put us all out the door.

One thing SS does not talk about and neither does our government, once the baby boomers turn up their toes, SS should be able to breathe a sigh of financial relief.