Quote:
Originally Posted by Nightfyre
Virtually my entire generation will have to work second jobs during our retirement because there will be no social security, but we will have to pay in to cover the ponzi scheme. Further, we will have to fix the current fiscal deficit brought on by the generation of excess.
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One thing we have in our favor is the 4 year election cycle. Any politicians that want to get rid of ss will immediately be thrust out of offcie by that generation, and or have no hope of being re-elected.
They will have to work out a compromise by either taking money from our other sectors like the defense budget or up the age of ss benefits while simultaneously tightening the restrictions on who is eligble for it.
I am 33 and don't currently live paycheck to paycheck, have about $125,000 invested with almost no debt. (Work Vehicle I "own" at 0% interest I owe $20K)
I still feel
woefully unprepared for retirement, and not exactly on track. They say you should have $2 million at retirement to keep your lifestyle if you make six figures, and I just don't see how I am going to get there with the crap interests rates, shaky economy, wave of inevitable inflation headed our way, and not personally owning any real estate.