America: whats your theory of what retirement will look like for you?

[Katebfun]

The system is the biggest SCAM ever. I have 1 aunt worked her whole life cutting hair and her monthly payout is $1,200 🤯 she has a husband and he is 70 and still works. No one can survive on $1200 a month!!

What will the system look like 25-30 years. Work till you die?

[WindAtMyBack]

It's fine. I thought the same thing when I was young. I thought it would never be there when I reached retirement age. But it's still here and there is no reason to think it won't be here much longer.

What you get is based entirely on how much you make and pay into it. If your aunt is getting 1200 a month, then she didn't pay much into it. If she worked cutting hair, how much of that was under the table? I did a lot of work under the table myself, and my SS payments are much smaller as a result.

If her husband still works at 70, then he will get a premium for working past the "full" retirement age, just like you get a penalty for retiring before the full retirement age. Some people think that working past 70 is a good strategy. For some people it really is. For others it's not.

As for living on 1200 a month. Of course you can live on that. Don't live somewhere with a high cost of living and don't waste money on things you don't need. Then it's easy to live on that much.

[RolandCuthbert]

Getting the "f" out of America to a nation that has healthcare and a lower cost of living.

That's why I travel so much. It is all about finding a place that won't punish me for being old. Going to Ghana in June.

[Katebfun]

Awesome. I agree 💯. Escape USA

[dreamstar72]

Something is wrong with the social security system, someone (we the taxpayers) are being lied to by our government. Think about it the social security is a separate tax and program, but yet is it is figured in to the national budget. So people believes that SSI recipients (retired workers) are get welfare benefits. Hello they paid a separate tax for their benefits.

[Hispanic-Cool-Guy]

I certainly don't plan to work for someone and depend on the government to give me a bs retirement.

I'm planning to free myself from this bs system as soon as possible that's designed to exploit people at the bottom for the benefit of the rich and super rich.

Screw that.

[Avicenna]

The demographic problems with Social Security and especially Medicare have be known for decades. I've never assumed that either would be there for me. I plan to work as long as I can, but who knows what the future holds.

[gorydetails]

What, social security? you’re supposed to be saving for your own retirement, not dependent on the government.

[BCA6010]

What retirement?

[abc3643]

I have to work until I die.

[Agape93]

I'll be dead before that's a concern