Raising Social Security's Retirement Age Would Have Life-Altering Consequences
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- čas přidán 18. 05. 2024
- In Washington, policymakers are pushing to increase Social Security's retirement age to 70. Analysts predict this adjustment could slash average lifetime benefits for new retirees by almost 20%. For unemployed older workers banking on full retirement benefits under the current age limit, this shift would have life-altering consequences.
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References & Clips:
Raising Social Security’s Retirement Age Would Cut Benefits for All New Retirees
By KATHLEEN ROMIG
Center on Budget and Policy Priorities
www.cbpp.org/research/social-....
If You’re Over 50, Chances Are the Decision to Leave a Job Won’t be Yours
www.propublica.org/article/ol.... - Jak na to + styl
Even though we are living longer, 70 seems high. Anyone who has a physically demanding job will need to repurpose their life when/if they can no longer do hard labor. I am 69 and retirement is not a financial option. I am very grateful to have Social Security as a supplement so that I no longer have to work extreme hours. Certain jobs are “age proof” such as senior caregiving. Families appreciate older caregivers looking after their loved ones. Also, substitute teaching is another option. Many school districts have a critical shortage of substitute teachers and they do not require college degrees.
I agree with learning a new skill. I'm 57 and spent 12 years with one company that didn't really provide new skill training. They had one lean six sigma class but wouldn't let us use the training. I couldn't take classes myself because I thought it was too expensive, which wasn't correct. I now find myself in a new job that I hate. For looking for a job, all my previous credentials have expired and I am about the same as a high school graduate with a bit of university.
There are a lot of older workers who find themselves in the same boat. Learning a new skill is more important than ever. Of course, starting a side hustle could be a quicker way to get where you want to go (provided it works out)
@@Over50tv I'm doing both a side hustle and taking online classes
its deliberate so people will think the Universal Basic Income will be brilliant.
I'm waiting to see how this plays out!
Anyone else born in 1960,if they raise the retirement age again? That ,would be twice in your lifetime . The first time under,who else Ronald Reagan. If the goverment ran a football league nobody would be able to score,because,they would keep moving the goalpost farther away!
Write to your Congressmen and Senators.
The higher the retirement age is pushed, the more likely people will die prior to being able to reach retirement age. Someone probably considers that a win.
That is what they are hoping for. They don''t want to pay you what is rightfully yours.
Very timely toic, thanks Lou! 👏👏🙏🙏😊
Thank you Peter!
They didn’t want to come up with this idea first. This is the third in their list of solutions. The first Covid. The second was the safe and effective vaccines.
Wow- just turned 62. Am I in danger? Or will they set or reset birth years again to determine who it affects?
as before, it will be phased in if it happens.
Annie no one knows how any increase will be implemented.
No one knows how this will be implemented.
Voting matters. What future president would you entrust your future retirement. As someone who is one year away from full retirement age, I will vote for a future President who actually cares about real people, not someone who tells fictional stories about everything. Go figure.