We have the equivalent here, the CPP (Canada Pension Plan). I know people who are pretty much dependent on it as they did not put away money for retirement. I am grateful that the plan exists.
What is happening there right now is failed state 101. Anyone wondering what is failed state, should tune in. They will get quick tutorial.
Absolutely, what a mess, it's amazing it has been "working" this long.
At this point it is hard to make any predictions. But, wouldn’t be surprised if oir intelligence knows more about situation in Russia than Putin.
The only problem with that is, most can't save anything. Or else won't by choice. And are just as incompetent financially as the government..... And in many cases worse.
While the Russian nuclear arsenal is an obvious concern, I've wondered just how functional it might be.
And possibly increase the min retirement age from 62 to 63 (or more) and/or both including a larger penalty for retiring early as well as increasing to 68 for full benefits.
I trusted Siri without proofreading.)
It is good to know the actual situation for men. We die earlier than women, so the nonsense "average" is useless for us. By age 65, fully 1/4 of male peers are dead. Nor are men living longer, we are dying a bit earlier now. Adjusting the retirement age up would ensure an even larger number of men never collect.
Yeah, agree men do die earlier. but much improved with only 1/4 of males dead according to the number you provided. My guess is back in the 1950s it was closer to 1/3rd or 1/2.
It's not about the fund going bankrupt. It already is not paying enough to retire on, what will happen when it is forced to reduce benefits by 25% or more, increase retirement age, and issue more debt? I think the average payout is already only $1,000 bucks/month, and I bet most people would have been much better off by taking whatever they paid in and simply putting that into an IRA instead (which I know is/was not an option). The point is SS is going downhill, perhaps much slower than the doomsayers think, but its looking pretty terrible for the next generation, and its the lack of planning/discipline of the last generation that we have to blame plus the demographics curve and longer lifespans are a force that would have been insurmountable anyway. Not long from now there will only be two working people for every 1 individual receiving payouts. Considering most people are already nearly living paycheck to paycheck, that is not sustainable.
Many years ago there was talk of being able to direct your own SS fund, into things like index funds instead of the paltry rate tied to US treasury. Of course the press had a field day on that like it was doomsday and never came close to being possible. The people who cant think for themselves (majority) bought it hook, line and sinker how SS would be doomed.
This first line is a statement that the youth are not properly taught about our country, and I dont blame you. I say this sincerely, honest.
They are functional. All their nuclear arsenal until few months ago was subject of inspection by us, as was ours by them. Most Russian facilities were upgraded u der Cooperative Threat Reduction program (or Nunn-Lugar program) since 1992. We basically paid upgrades, destruction of obsolete stuff, employment of around 10,000 scientists etc. so wrapped don’t end up in someone’s hand or scientists get a job with Kim’s etc.
I wont be alive
