Quote:
Originally Posted by GregWeld
#1 --- There are lots of "BAD DAYS" --- when you want reinforcement of what you're doing --- Take a chart of the stocks you own out to 10 years or "since inception" if possible (depends on who's charting service you're using) --- and you'll see LOWER ON THE LEFT AND HIGHER ON THE RIGHT --- with MANY MANY MANY ups and downs in between! Look at the larger picture!
#2 --- I don't want to get into a political discussion so let's leave this right here.
Social Security should be "means tested" --- Millionaires don't need Social Security. Don't care that I've paid in to it. It was designed as a social safety net. I should not be allowed to "collect" unless I was down to a preset level of net worth or income and net worth or whatever.
I'm a Republican.... but I have very Democratic views on many social issues. I'd far prefer to raise the level of SS for those that really depend on it -- at my expense (since I don't need it at all)... and raise their standard of living.
I'd also amend the tax law to eliminate the SS "cap". There shouldn't be a cap on when you quit paying into the system. Well-to-do people can afford to support the SS system.
#3 --- To respond to your question about when to start taking SS. I don't think anyone should ever have to take it. You shouldn't be dependent on it at all. That's what this thread is all about. To me - it's like Welfare... it should only be there for the truly needy. It should not be about raising your standard of living nor absolve a person of being self sufficient and providing for themselves in retirement. Having said that.... I would opt for taking the least amount over what I would HOPE to be the longest period of time. Should I decide to file for it.... mine would be donated to the causes of my choice.
#4 --- If you "have to work" until you're 65 or 70..... or beyond.... it's an epic failure of personal responsibility.
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Ouch that will be a stinger for some folks.
From what I learned this drop just means things are on sale!