General Discussion

underpants

(187,380 posts)

30. It is BY FAR the best and safest retirement plan you can get. 5-7 years to totally recoup

Thu Dec 5, 2024, 05:16 PM

Dec 5

everything you ever paid into it.

Now Defined Plans such as professionally managed pensions are great. Whole life insurance is good too if you can afford it but Social Security for most people is the best plan they can get.

Depending on your top 3 year earning window and how you draw down, it takes 5-7 years to get everything YOU paid into the system back. This doesn’t apply to the self employed who have to pay the full 12.4%. That is a Shane by the way. Most of us pay half 6.2% and our employer pays the other half.

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Watchdogs say world's richest man Elon Musk has 'declared war on Social Security' [View all] geardaddy Dec 5 OP

Musk has nothing to lose in this fight whereas every SS recipient rurallib Dec 5 #1

Yep, he's got his geardaddy Dec 5 #2

The billionaires believe that all money and resources belong to them. Irish_Dem Dec 5 #3

Its like my cats MadameButterfly Dec 6 #41

Good analogy. Irish_Dem Dec 6 #44

I have always maintained that most rich people need substance abuse therapy. travelingthrulife Dec 6 #45

Exactly, it is a horrible addiction to money. Irish_Dem Dec 6 #48

It's not enough to have it all, we must be left with nothing. Hugin Dec 6 #54

They assume they are immune from any negative consequences. Irish_Dem Dec 6 #55

fElon should turn on the news SledDriver Dec 5 #4

Don't look at me... Blue_Tires Dec 5 #5

Excuse me but apparently there were multi races voting for * MagickMuffin Dec 5 #18

And they've all signed our death warrants Blue_Tires Dec 5 #27

You'll forgive me if I've been feeling betrayed Blue_Tires Dec 6 #42

We're both experiencing a huge letdown MagickMuffin Dec 6 #51

We can sit in the gulag together and commiserate. haele Dec 6 #56

This message was self-deleted by its author Chin music Dec 6 #52

Crap like this RANDYWILDMAN Dec 5 #6

Eff this bastard! For many, that SS check (for which they worked all their lives) allows them to eat and have a LoisB Dec 5 #7

I deal with a lot of clients everyday that Jspur Dec 5 #12

"A lot of them would be homeless without the SSN income." markodochartaigh Dec 5 #32

Those scumbags can't think in terms of their own parents, grandparents or what they would do if they hadn't LoisB Dec 5 #38

Genocide!!! atreides1 Dec 6 #53

...and the Musks of the world don't give a shyte. LoisB Dec 5 #39

Kick dalton99a Dec 5 #8

The grift never ends... AntiFascist Dec 5 #9

They don't care HUAJIAO Dec 5 #36

They fail to realize the fundamental reason Social Security was instituted . . . Journeyman Dec 5 #10

Taxes are the cost of civilization. multigraincracker Dec 5 #11

And it appears that the first 'shot' was fired the other day Strelnikov_ Dec 6 #43

My signature line for billionaires like Must is this: Jit423 Dec 5 #13

My husband and i only have SS. If it was gone, we would be homeless. Trueblue1968 Dec 5 #14

Is he even an American citizen? bif Dec 5 #15

Screw him either way Redleg Dec 5 #16

He is now but he came in illegally travelingthrulife Dec 6 #46

Social Security does NOT add ONE CENT to the debt. It is not part of the budget. CousinIT Dec 5 #17

Rich fuckers hate that they have to pay into their employees Social Security Wild blueberry Dec 5 #40

Yup. The employers want the payroll tax gone so they can keep more money. travelingthrulife Dec 6 #47

Yup Social Security payments are derived from,.... magicarpet Dec 6 #58

Do you remember when Al Gore kept saying SS needed to be in a lock box? jmbar2 Dec 6 #57

Kicking out the immigrants and they need cheap labor. Emile Dec 5 #19

Yes, we all know this is why his stupid fictional austerity department no one wanted was created. This shouldn't be news Karasu Dec 5 #20

Big money wants to privatize social security for all the fees it can collect. keithbvadu2 Dec 5 #21

A man worth 300 billion dollars doesn't want people to have enough money to live on in their old age. patphil Dec 5 #22

Especially since he gets fabulous amounts of money from our government travelingthrulife Dec 6 #49

But didnt trump say he wouldn't come after SS or Medicare? You mean HE LIED? IcyPeas Dec 5 #23

They think it won't impact them. It will only screw over their kids, not them. travelingthrulife Dec 6 #50

Way past time for UBI JoseBalow Dec 5 #24

He's a prick. La Coliniere Dec 5 #25

Poor? I'll be dead. Dem2theMax Dec 5 #26

What Mike Lee, Rick Scott... GiqueCee Dec 5 #33

I believe... GiqueCee Dec 5 #28

Says Mr Drug Addled Brain Clouds Passing Dec 5 #29

It is BY FAR the best and safest retirement plan you can get. 5-7 years to totally recoup underpants Dec 5 #30

This is bad framing... orwell Dec 5 #31

Idiots like Eloon have apparently never read the quote from Eisenhower... keep_left Dec 5 #34

All Dems, politicians and others, better fight this starting RIGHT NOW !! HUAJIAO Dec 5 #35

My grandmother was widowed at age 45. phylny Dec 5 #37