A good pension fund takes money coming in and invests it in such a way that it’s going to be there when you retire. So they might say the pension is 90% or 100% funded. They’re not doing that.
How so?
A good pension fund takes money coming in and invests it in such a way that it’s going to be there when you retire. So they might say the pension is 90% or 100% funded. They’re not doing that.
That sounds like a nightmare. If you are enrolling in Medicare and Part B, I'd strongly advise against getting the Medicare dis-Advantage plans and get the medicare part b supplement instead (preferrably Wellmark Plan G if available). Just my 2 cents.Well hopefully by the time some of you are ready to get signed up for SS that they have figured out and fixed all the problems with their online signup, because it is a joke.
I spent two days trying to navigate my way through the process, called them to reset after getting blocked, and still did not get signed up.
So, I figured, screw it, would just drive over to Ottumwa and have them do it. You know person to person like the old days. Figured I would give them a heads up and gave them a call on Wednesday. They no longer do in person meetings at their office, everything must be done over the phone. I think no problem, that will be fine, when can I get an appointment? The first appointment I could get is Nov. 20th at 3:30 and since they are so busy in Ottumwa, it will be out of their Creston office. You have to be kidding me, I have to wait 2 months, to sign up? They did tell me that I can call next week and hopefully someone has cancelled, and they can get me in earlier.
Online system sucks, cannot go over to meet with them, and the phone process takes 2 months, typical government program.
Pretty much. But the point would be that you don’t need it anyway…and the economy overall would be worse off if they don’t make that adjustment (so you’re paying for poor management by the government one way or another).So now a program I have paid into my whole working life I dont get because I have sacrificed a lot to save for retirement?
Are your talking Illinois’ pension or SS? They’re a little different but a similar problem. SS goes to people who are getting funds now…but not everyone paid in. Cyhig really said it perfectly. It’s not that I even disagree with helping the poor or disabled…but the system is not set up for success.How so?
Yes. View SS as a tax. Right now you are paying taxes out of your salary to fund many, many government programs. You likely will never benefit from the majority of those programs. But these programs help the quality of life for those in need.So now a program I have paid into my whole working life I dont get because I have sacrificed a lot to save for retirement?
Well **** it then … time to stop maxing out retirement accounts and time to buy a new truck, boat and a timeshare.Pretty much. But the point would be that you don’t need it anyway…and the economy overall would be worse off if they don’t make that adjustment (so you’re paying for poor management by the government one way or another).
Are your talking Illinois’ pension or SS? They’re a little different but a similar problem. SS goes to people who are getting funds now…but not everyone paid in. Cyhig really said it perfectly. It’s not that I even disagree with helping the poor or disabled…but the system is not set up for success.
That’s an option. I know you’re joking, but that doesn’t hit me any sort of way. I would rather be self-reliant (again in part because I don’t know that it would be there), but I wouldn’t think less of you for doing that…Well **** it then … time to stop maxing out retirement accounts and time to buy a new truck, boat and a timeshare.
Ok, then you explain it to me. Where did the money go?![]()
Can You Collect Social Security If You Never Paid Into It?
Social Security benefits are earned and you must have paid into the system for at least 10 years. There are exceptions for specific nonworking family members.www.aarp.org
Ok, then you explain it to me. Where did the money go?
Ok, that’s fine. I didn’t really want to get into the weeds on how the system worked anyway…just wanted to see how people felt about it/whether it would be around. I did learn a bit from those links though, so thanks for that.Boomers are retiring
I have another 3 years before I take on the Medicare problem. We caught a break and we both can stay on my wife's insurance at the rate she was paying while working until she turns age 65 in another 14 months, then the rate goes up to around $500 a month for me to stay on the program until I am old enough to qualify for Medicare.That sounds like a nightmare. If you are enrolling in Medicare and Part B, I'd strongly advise against getting the Medicare dis-Advantage plans and get the medicare part b supplement instead (preferrably Wellmark Plan G if available). Just my 2 cents.
If I remember the government in the 60's did borrow money from the program to pay for the Vietnam war instead of rising taxes to fund the war.Boomers are retiring
If I remember the government in the 60's did borrow money from the program to pay for the Vietnam war instead of rising taxes to fund the war.
Haha - you have all the info on SS at hand. I think we’ve figured out what your day job is!![]()
Social Security didn’t finance the Vietnam War
Dear Rusty: It is common knowledge that over the decades politicians have taken billions if not trillions of dollars out of the Social Security fund to finance other government programs. This information is never published or addressed and having the government repay this money back to SS is...www.gbtribune.com
Haha - you have all the info on SS at hand. I think we’ve figured out what your day job is!
That's good to hear. Best of luck to you when you guys have to sit down pick a plan.I have another 3 years before I take on the Medicare problem. We caught a break and we both can stay on my wife's insurance at the rate she was paying while working until she turns age 65 in another 14 months, then the rate goes up to around $500 a month for me to stay on the program until I am old enough to qualify for Medicare.
Right around the same time we saw the upper echelon of income tax brackets start to drop off, funny how that works.If I remember the government in the 60's did borrow money from the program to pay for the Vietnam war instead of rising taxes to fund the war.
Totally agree with getting the supplement G plan and the part D drug plan. However everyone’s situation is different. I found a ton of great information from a YouTube site. Search for Medicare School. This guy does a great job of presenting the rules and options. He has a lot of videos to watch because there are a lot of rules and choices to make. Definitely worth the time to watch. This information will help you make the best decision for yourself and not get locked into a bad situation for life.That sounds like a nightmare. If you are enrolling in Medicare and Part B, I'd strongly advise against getting the Medicare dis-Advantage plans and get the medicare part b supplement instead (preferrably Wellmark Plan G if available). Just my 2 cents.