Quote:
Originally Posted by JSH
While Social Security is a great program it isn't really applicable to my generation and younger. While I believe it will still be around in some form or another it seems irresponsible to base one's retirement on an unknown. Anything that it pays will be considered a happy bonus. As our generation doesn't have pensions we need to do the saving ourselves if we want anything near the retirement our parents enjoyed.
Hence the need for investing if one wants to leave the rat race after a reasonable number of years. 30 years and out used to be pretty standard, my wife and I are shooting for 25 and out.
|
I've said it before, but I'd be happy to forfeit all contributions thus far and get zero SS benefits in the future in exchange for paying nothing into it going forward.
We're living longer than in times past, which creates a new problem. In the past, family would support the elderly the few years until they die. Now that retirement is 1/3 of a lifetime, that becomes a much greater burden.
SS should be an opt in program. What business is it of the governments to force one to set aside retirement savings at essentially zero percent interest or less?