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Whoa! I was listening to NBC news tonight and they had a short segment about retirement income/investment. They ended with the comment that Congress is considering decreasing SS benefits! Is this true and where can I get more info to track this legislation? I, personally, at 50 haven't really been focusing my retirement portfolio around SS income, but my husband has. I want to put more away for retirement, he doesn't see the need. I'm a believer of Warren Buffetts projection that stock investment returns will be reduced to 6 to 7% and not the 10-11% being touted by retirement planners. Am I a 'young' old fogey or what????
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Whoa! I was listening to NBC news tonight and they had a short segment about retirement income/investment. They ended with the comment that Congress is considering decreasing SS benefits! Is this true and where can I get more info to track this legislation?

It is not the congress as far as I know but the Commission on Social Security which is looking at ways to reform SS. Part of what they are looking at is private investment accounts and part is the reduction in benefits to be offset by private accounts. Their projections of offsets are based on the return of 3.5%.

I understand it is hard to stomach the idea of SS benefits reduction but it is inevitable.

SS system will default fairly soon and if nothing is done to tackle this issue, the results will be devastating.

The question is if the political leadership (both Republicans and Democrats) have the guts to deal with it or if they will try to get a short-term political advantage for themselves while pushing the solution further behind when it will be even more painful.

Vlad
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I understand it is hard to stomach the idea of SS benefits reduction but it is inevitable.

This is the same as discussed before: applies only for future recipients, viz:


http://dailynews.yahoo.com/h/nm/20011211/pl/retirement_dc_2.html

cheers!
jtr
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To find out about ss changes and to let your opinions
be known, you can visit
www.saveoursecurity.org

boomerwoman
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Not Congress -- Bush. Everyone on the committee was hand-picked by him & his advisors. The results were decided before the comittee even started meeting.

If you and your husband are going to be together for the rest of your lives, you should treat your retirement assets as one big pot. If he's not interested in contributing anything to his retirement accounts, you should contribute your money to his accounts.
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To find out about ss changes and to let your opinions
be known, you can visit www.saveoursecurity.org


Hmm...it allows you to let only one type of opinion be known - that which is against SS reform.

The site does not provide any means to voice an independent opinion at all.

So much for the pluralism of ideas on this subject.

Vlad
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I understand it is hard to stomach the idea of SS benefits reduction but it is inevitable.

This is the same as discussed before: applies only for future recipients


Of course it has been discussed before. But the reason it is hard to stomach, politically, is because it has been discussed extensively by democrats (using the 65 and over crowd as a front) as "Don't touch my SS benefits." The fact that it applies only for future recipients mysteriously never makes it into those ads...

- Tom
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it has been discussed extensively by democrats (using the 65 and
over crowd as a front) as "Don't touch my SS benefits." The fact that it applies only for future recipients mysteriously never makes it into those ads...


Ain't it the truth! And that's just one of the many ways they play dirty.

cheers!
jtr
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"The site does not provide any means to voice an independent opinion at all."

You can always voice another opinion to your Congressperson
or Senator on the House or Senate site.
What's important is for everyone to let their opinion be
heard on the subject.
That's how democracy works.

boomerwoman
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This is a phony crisis, as I have repeatedly pointed out:

http://www.cepr.net/columns/weisbrot/social_security_the_phony_crisis.htm

Always ask: who stands to make a profit?

Ralph Miller
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