On Mon, 14 Aug 2017 19:29:55 -0700 (PDT), me
Post by me
So retirees don't need a Plan B? Does the self funded SS have a Plan B?
Plan B was for the wife to go to work. That probably
happened for most couples in the late 70s, or early 80s. My
wife went back to school and then went to work in the early
80s, for example. Plan C is to have fewer children and the
birth rate for whites, at least, is below the replacement
level. Plan D is not to get married at all and I think a lot
of people are staying single now days.
So, really I think the wage earner in this country is
currently working on plan E. My daughter knows a couple
where the husband is working two full-time jobs and the wife
is working one full time job. People don't really make
enough money to save much money now days, so that's not a
very realistic option. For those whose employer is matching
401K contributions, people really ought to contribute the
maximum for a full match, at least.
Unless the politicians change the law with Social Security,
everyone will take about a 25% cut 2033. There are no plans
to change that, but both political want to do the same
thing, i.e., turn SS into a (bigger) welfare program by
making an additional cut for those who receive above average
benefits and transfer the money to those who receive less
than average benefits.
With Social Security, both political parties have made it
very clear that they will not strengthen the program.