I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Wendy Hubbard Stewart.
I just looked at the jobs available at my mega corporation for the group of jobs applicable to me. Today there are 142. Only 18 of those are in the US. The vast majority are in India (118). These are good paying, professional jobs. India employees are not paying into FICA. We won’t have to worry about a cut to benefits since we are not going to have any Social Security benefits if jobs keep moving offshore.
I totally agree with your assessment Josh. There CANNOT be a reduction in SS - let alone a 25% reduction. Another simpler point of view on a reduction not happening is this - how many folks already receiving SS and are just able to keep their heads above water are actually using SS as their main or sole income? I'm pretty sure that's going to be a very high number. If a reduction happens it would cause instant chaos across the nation. Millions of elderly would lose their homes, and that's for starters. This is just another reason a reduction cannot happen.
Republicans can decide current social security payments not increase. Republicans can decide Medicare premiums increase. Republicans can raise social security age of future recipients. So, the best case scenario for the current situation is a slow decay in value of social security for current recipients. At least until 2035 where there won't be enough money to pay full amounts of Congress does nothing to fix it.
In 1976, our 12th grade math teacher explained that Social Security is a PONZI Scheme, and that our class would be unlikely to collect. He explained that we must live beneath our means and invest. I’m 66, and haven’t taken it because I don’t want to rip-off young people. If I do decide to take it, I will invest 100% of it into Bitcoin in order to show young people how how the Dollar loses value every year due to the Fed inflating the currency supply.
I have read 3 of your books using kindle unlimited and they are very educative and informative. Retire on SS, tax time bomb and relax and retire are the titles that I read. Then searched the author in TH-cam and landed here😊
Why is there even talk about reducing SS? It’s ours fair and square. We should not just accept this. We should be saying hey govt. do something about this.
We're fortunate we could put together a retirement plan that meets all our needs without including a dime from social security. That money is all gravy. I agree though that a significant decrease in social security benefits would have major impacts on the economy. Whether or not I need that money in today's economy and event like that could put all the plans in the rubbish bin.
Josh, you make a great point about what could happen if they reduce benefits, however.... I'm still calculating it in (a 25% reduction around '33 or '34) just in case it does come to fruition. If it doesn't? Well, I'm in an even better place!
You are correct but some what wrong politicians make close to $40,000.00 a year and if spouse worked another $40,000.00 a year. This is just social security. Great to be a public servant
Thanks for the explanation, Josh! I hope you explain to your King Maga and his Maga congress to keep this in place! By the way, A dictator has taken over..
Glad I was born in 72.....if they change my FRA to 97 years old with a 3 percent early withdrawal reduction per year for taking SS at 62.....I will have to pay them for the privilege of filing.😅
Double whammy. Lower SS would usually mean more ss subject to taxes as you use more income to make up for the lower SS. Unless you can make up the difference from your Roth.
I did not understand that spousal benefit rule... I was thinking lower earning spouse SS would be driven by age at which higher earning spouse takes benefit. How about this scenario: husband age 67 benefit is 4000/month; wife age 67 benefit is 1350. Wife is 5 years older than husband. Does this mean at age 67, wife could take spousal benefit, 2000 (50% of 4000)? Meanwhile, husband waits til age 70 and takes 4800 (8 years later). Am I understanding this correctly? At that point, the combined is 6800, adjusted for COLA... Yes?
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Wendy Hubbard Stewart.
I'm surprised that you just mentioned and recommended Wendy Stewart, I met her at a conference in 2018 and we have been working together ever since
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
You trade with Wendy Stewart too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much.
I just looked at the jobs available at my mega corporation for the group of jobs applicable to me. Today there are 142. Only 18 of those are in the US. The vast majority are in India (118). These are good paying, professional jobs. India employees are not paying into FICA. We won’t have to worry about a cut to benefits since we are not going to have any Social Security benefits if jobs keep moving offshore.
I totally agree with your assessment Josh. There CANNOT be a reduction in SS - let alone a 25% reduction. Another simpler point of view on a reduction not happening is this - how many folks already receiving SS and are just able to keep their heads above water are actually using SS as their main or sole income? I'm pretty sure that's going to be a very high number. If a reduction happens it would cause instant chaos across the nation. Millions of elderly would lose their homes, and that's for starters. This is just another reason a reduction cannot happen.
Republicans can decide current social security payments not increase.
Republicans can decide Medicare premiums increase.
Republicans can raise social security age of future recipients.
So, the best case scenario for the current situation is a slow decay in value of social security for current recipients.
At least until 2035 where there won't be enough money to pay full amounts of Congress does nothing to fix it.
In 1976, our 12th grade math teacher explained that Social Security is a PONZI Scheme, and that our class would be unlikely to collect.
He explained that we must live beneath our means and invest.
I’m 66, and haven’t taken it because I don’t want to rip-off young people.
If I do decide to take it, I will invest 100% of it into Bitcoin in order to show young people how how the Dollar loses value every year due
to the Fed inflating the currency supply.
I have read 3 of your books using kindle unlimited and they are very educative and informative. Retire on SS, tax time bomb and relax and retire are the titles that I read. Then searched the author in TH-cam and landed here😊
Why is there even talk about reducing SS? It’s ours fair and square. We should not just accept this. We should be saying hey govt. do something about this.
Best explanation of common sense on this subject I’ve heard.
Anyone want to comment on the shirt? 😁
We're fortunate we could put together a retirement plan that meets all our needs without including a dime from social security. That money is all gravy. I agree though that a significant decrease in social security benefits would have major impacts on the economy. Whether or not I need that money in today's economy and event like that could put all the plans in the rubbish bin.
Benefits are already being reduced by using the BS CPI to adjust for inflation.
Josh, you make a great point about what could happen if they reduce benefits, however.... I'm still calculating it in (a 25% reduction around '33 or '34) just in case it does come to fruition. If it doesn't? Well, I'm in an even better place!
You are correct but some what wrong politicians make close to $40,000.00 a year and if spouse worked another $40,000.00 a year. This is just social security. Great to be a public servant
Thanks for the explanation, Josh! I hope you explain to your King Maga and his Maga congress to keep this in place! By the way, A dictator has taken over..
Glad I was born in 72.....if they change my FRA to 97 years old with a 3 percent early withdrawal reduction per year for taking SS at 62.....I will have to pay them for the privilege of filing.😅
Ok ok I pawed the like button twice.. no 3x for PAWblo no less..!
OBJ & COJ......(old buddy josh & crappy old job) are golden sayings!!
Double whammy. Lower SS would usually mean more ss subject to taxes as you use more income to make up for the lower SS. Unless you can make up the difference from your Roth.
And by not indexing ss taxation threshold
I did not understand that spousal benefit rule... I was thinking lower earning spouse SS would be driven by age at which higher earning spouse takes benefit. How about this scenario: husband age 67 benefit is 4000/month; wife age 67 benefit is 1350. Wife is 5 years older than husband. Does this mean at age 67, wife could take spousal benefit, 2000 (50% of 4000)? Meanwhile, husband waits til age 70 and takes 4800 (8 years later). Am I understanding this correctly? At that point, the combined is 6800, adjusted for COLA... Yes?
Yea except for some of the COLA increases.
No! Wife can't claim spousal benifits until husband claims. Wife can claim on her own record until husband claims.
@@tomgerth5224 Correct