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View Full Version : It was only a matter of time


Valentine One Radar Detector

chiph
07-14-2010, 10:28 PM
They're considering raising the retirement age to be eligible for Social Security.

http://www.washingtontimes.com/news/2010/jul/13/both-parties-mull-raising-retirement-age/


Besides raising the retirement age for full Social Security benefits to 70 for people now 50 or younger, Mr. Boehner suggested curbing benefit growth by tying cost-of-living increases to the consumer price index rather than growth in wages, and providing benefits only to those who need them.

"If you have substantial non-Social Security income while you're retired, why are we paying you at a time when we're broke?" he said. "We just need to be honest with people."

So, if your financial advisor was telling you that you need $1 million for a comfortable retirement, better double that to $2 million.

Assuming they don't institute a tax on retirement savings.

Chip H.

Eric
07-14-2010, 10:38 PM
They're considering raising the retirement age to be eligible for Social Security.

http://www.washingtontimes.com/news/2010/jul/13/both-parties-mull-raising-retirement-age/



So, if your financial advisor was telling you that you need $1 million for a comfortable retirement, better double that to $2 million.

Assuming they don't institute a tax on retirement savings.

Chip H.


Anyone under 50 today who hasn't already written off Social Security is an imbecile.

You won't see a cent. Everything you "contributed" is gone - forever.

Ken
07-15-2010, 06:29 AM
Assuming they don't institute a tax on retirement savings.

Chip H.

Our ex and unlamented, umissed and unloved Prime Minister, (Gorgon Blown) when he was Chancellor did just that - to the tune of $8 billion per annum from our pension funds. One is hoping that the new regime will reverse that act of robbery quite quickly.

Ken.