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truedelphi

(32,324 posts)

173. Here is how someone named

Fri Mar 15, 2013, 02:12 PM

Mar 2013

AmericanAnt over on DailyKos considered the problem, mathematically speaking:

"The math on this is interesting, IMHO (3+ / 0-)

"According to the linked site, if you have a full benefits retirement age of 67 and retire at age 62 your monthly benefit is reduced by 30%.

"Meanwhile, their actuaries claim that the life expectancy for people who retired in 2000 was 81 for males and 84 for females. So, lets assume that I live to 81 (since I'm a male, but I assume that OleHippieChick is either a female or a poultry farmer) and compare the outcomes.

"81-62 is 19 years of benefits at 70% of the rate, or the equivalent of 13.3 years at the 100% level. 81-67 is 14 years, you can see that you end up slightly worse off if you live to the expected age, but only by about 5%.

"The break-even point is 16.67 years of early retirement vs. 11.67 years of full retirement, or about 2.33 years shorter than average life expectancy. Clearly if you have an inkling about your particular chances based on health, family history, etc. you might well be advised to take one or the other based on that information.

"If you were to live to 90, in the early retirement scenario you collect 19.6 years worth of full benefits, but would have gotten 23 years of benefits if you had waited to 67. This turns out to be about a 15% reduction overall.

"Clearly, the goal is to retire early and die young "

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Highlight:

If You Are A Baby Boomer - the real reason YOU SHOULD BE FURIOUS over CPI cuts: [View all] truedelphi Mar 2013 OP

HUGE K & R !!! WillyT Mar 2013 #1

Sush, prole. The 1% wants that money and they have the power to take it. Now just shush. Scuba Mar 2013 #2

it's an absurd OP hfojvt Mar 2013 #141

I don't understand how Social Security is part of the upaloopa Mar 2013 #3

That money goes to the rich and big biz n2doc Mar 2013 #8

It isn't. jeff47 Mar 2013 #12

In 20 years, a lot of Boomers will be gone. Zen Democrat Mar 2013 #32

Under there scenario, it's stable at 70% of current benefits forever jeff47 Mar 2013 #35

Last I read, this is how the generational population breaks down Hestia Mar 2013 #74

And this describes the true situation TM99 Mar 2013 #84

No one is screwed, Millenials (who the hell comes up with these terms btw?) sabrina 1 Mar 2013 #87

I really didn't need a tirade. TM99 Mar 2013 #92

"SS is fine".......except: dixiegrrrrl Mar 2013 #96

That can be fixed by raising the cap and providing jobs here starting with sabrina 1 Mar 2013 #111

I agree with you that this could work, TM99 Mar 2013 #114

Another big chunk of "lost" revenue Jeff In Milwaukee Mar 2013 #118

Hmmmm PasadenaTrudy Mar 2013 #110

You are the last year of Boomers. TM99 Mar 2013 #113

"a generation twice our size" Babel_17 Mar 2013 #123

I tried to let people know in another OP I had truedelphi Mar 2013 #15

Excellent post! JDPriestly Mar 2013 #49

I am amazed at how blatant "our" representatives are with the hand wringing and the WCGreen Mar 2013 #51

Just after chervilant Mar 2013 #97

It is loaned out on IOUs. And they are trying as hard as they can to get their paid congress DhhD Mar 2013 #39

also we paid twice ThomThom Mar 2013 #58

That's the only thing that kept Social Security going this long customerserviceguy Mar 2013 #62

So we should be shot BECAUSE we paid more into SS? Or........ socialist_n_TN Mar 2013 #63

No, we had years to figure out how to get past the baby boom customerserviceguy Mar 2013 #66

Marx, Lenin, and Trotsky...... socialist_n_TN Mar 2013 #67

That's crap. We baby boomers paid double rates because of our numbers. rhett o rick Mar 2013 #77

If that money had truly been invested in something solid, you might have a point customerserviceguy Mar 2013 #93

There is no "unfunded liability". That's a conservative talking point. rhett o rick Mar 2013 #94

If it's a "talking point" customerserviceguy Mar 2013 #130

Did you read the report? I am a simple minded person. rhett o rick Mar 2013 #133

I did read it customerserviceguy Mar 2013 #136

The trust fund was INTENDED to go to zero. The system was designed rhett o rick Mar 2013 #137

It's going to get there a lot quicker than you think customerserviceguy Mar 2013 #138

It's me, not you. I am doing terrible making my point obviously. rhett o rick Mar 2013 #139

And if we had the expanding economies of the 50's, 60's customerserviceguy Mar 2013 #142

I am not sure where you are getting this, but in my opinion it's gibberish. rhett o rick Mar 2013 #150

There are a number of problems customerserviceguy Mar 2013 #156

SS was means tested in 1993 reteachinwi Mar 2013 #158

I stopped doing taxes in 1990 customerserviceguy Mar 2013 #161

SS is a giveaway program? That Sir, needs a citation or an apology for making craap up. FogerRox Mar 2013 #125

Leaving alone the most infamous case of Ida May Fuller customerserviceguy Mar 2013 #131

That statement along with a number of others seem consistant with rhett o rick Mar 2013 #154

The time for continued denial of the solvency of SS is long past over. Doremus Mar 2013 #124

I get my views from the writings of Dr. Allen W. Smith customerserviceguy Mar 2013 #132

May I ask? Babel_17 Mar 2013 #134

Sorry it took me a few days customerserviceguy Mar 2013 #143

Thanks for the reply, and the food for thought. Babel_17 Mar 2013 #146

You're welcome customerserviceguy Mar 2013 #148

I agree with some of what you are saying Babel_17 Mar 2013 #155

Again, my thanks customerserviceguy Mar 2013 #157

SS increases masked budget deficits created by corporate and individual income tax cuts. reteachinwi Mar 2013 #159

Your bolded paragraphs are indeed true customerserviceguy Mar 2013 #160

Yeah, not many people remember that. Or at least don't bring it up........ socialist_n_TN Mar 2013 #64

Precisely Sherman A1 Mar 2013 #91

So we elect a guy that we feel confident with that INdemo Mar 2013 #95

In 2010 there was a shortfall of $40 billion.... Sekhmets Daughter Mar 2013 #103

The deduction is not going to be enough to pay for the benefits paid out Yo_Mama Mar 2013 #135

yep marions ghost Mar 2013 #4

And paying back student loans. JDPriestly Mar 2013 #68

I said years ago..... llmart Mar 2013 #5

You got what you voted for. jeff47 Mar 2013 #16

seems like reagan was not reelected in 2012. nice try though nt msongs Mar 2013 #25

Because history started in 2012. jeff47 Mar 2013 #31

Wrong, wrong, wrong. charlyvi Mar 2013 #45

That was a sarcastic response. jeff47 Mar 2013 #46

OK. Thanks charlyvi Mar 2013 #48

Don't be sorry, we need to be constantly reminded. mountain grammy Mar 2013 #108

Um.... llmart Mar 2013 #54

Whether or not you did, boomers did. jeff47 Mar 2013 #70

There are some strong demographic trends politically that don't really line up like that Fumesucker Mar 2013 #57

Yes, but we lump people into "generations" as a very rough approximation jeff47 Mar 2013 #71

Point well taken. The baby boom era was really ended by the mid to late fifties, maddiemom Mar 2013 #100

I've said it many times... malokvale77 Mar 2013 #6

I say it also, and then the apologists for whatever party is in truedelphi Mar 2013 #7

Remember when... malokvale77 Mar 2013 #17

I remember Republicans and pundits in general thucythucy Mar 2013 #102

Here's another and better reason Demo_Chris Mar 2013 #9

you think like a repuke Skittles Mar 2013 #19

No, but that is exactly how the GOP will play it Demo_Chris Mar 2013 #23

of course the fucking GOP will play it that way Skittles Mar 2013 #24

So we agree: The GOP will play it that way Demo_Chris Mar 2013 #37

Well I'm going to do some opposite John2 Mar 2013 #115

Gen X didn't elect Reagan Demo_Chris Mar 2013 #119

Boomers didn't necessarily elect Raygun, either. love_katz Mar 2013 #153

i am sorry that you are a victim of the war between the generations truedelphi Mar 2013 #26

I agree, we could raise or eliminate the cap and solve in indefinately Demo_Chris Mar 2013 #38

so true so true ThomThom Mar 2013 #60

Business considers their half of the withholding "just another unjust tax". xtraxritical Mar 2013 #75

You hit it! It all comes down to corps paying their half. Now that most pensions are mountain grammy Mar 2013 #109

Let's just raise the cap on the SOBs. xtraxritical Mar 2013 #120

Yes, yes, yes! mountain grammy Mar 2013 #121

Thank you, truedelphi! n/t Duval Mar 2013 #53

You honestly believe anyone in Washington gives a shit about seniors? They don't. djean111 Mar 2013 #33

I agree Demo_Chris Mar 2013 #40

No generation is "stealing" from their descendants SoCalDem Mar 2013 #34

I believe that every generation is entrusted to guard this earth and society for the future Demo_Chris Mar 2013 #42

Exactly right and very well put! "We OWE each ...it's just that simple... maddiemom Mar 2013 #101

Why will many kids continue to pay in? JDPriestly Mar 2013 #69

I guess I have done a poor job explaining this Demo_Chris Mar 2013 #73

What happens two or three or four decades down the road JDPriestly Mar 2013 #86

I agree. The point was that time matters when you apply chained CPI to it n/t Demo_Chris Mar 2013 #89

President Obama offered it, so it... 99Forever Mar 2013 #10

No worries, according to a recent article in the Washington Post AnnieK401 Mar 2013 #11

The only way to stop it Pakid Mar 2013 #13

My Blue Dawg Congressman, Mike Thompson, (Lake County Calif.) is absolutely gleeful truedelphi Mar 2013 #20

They're telling the boomers they have to sacrifice for their kids.... Spitfire of ATJ Mar 2013 #14

Does anyone anywhere know the amount of huge contributions the Social Security truedelphi Mar 2013 #18

That doesn't matter. Spitfire of ATJ Mar 2013 #43

How can we who are on Social Security help out their kids RebelOne Mar 2013 #50

Soem peopel have the good fortune of being double dippers - truedelphi Mar 2013 #174

You have this backwards Demo_Chris Mar 2013 #28

Most people don't even know how the program works.... Spitfire of ATJ Mar 2013 #41

Good point Demo_Chris Mar 2013 #44

Kay & Ray! KansDem Mar 2013 #21

Thanks Kansas Dem. n/t truedelphi Mar 2013 #27

Theft blkmusclmachine Mar 2013 #22

Exactly! n/t truedelphi Mar 2013 #30

If only we had a president and congress that supported SS. better luck next year eh? nt msongs Mar 2013 #29

My Republican uncle told my dad that SS wouldn't be there for him. In the 1950s! Zen Democrat Mar 2013 #36

In 1975, my boss said SS wouldn't be worth a damn when we turned 65. She is now 67 raccoon Mar 2013 #122

K&R. Well said. JDPriestly Mar 2013 #47

I lost a year wryter2000 Mar 2013 #52

Well said. K&R Louisiana1976 Mar 2013 #55

I'm 66 Blue_In_AK Mar 2013 #56

k&r... spanone Mar 2013 #59

We are also the only generation to pay DOUBLE: truebluegreen Mar 2013 #61

As I said in a post upthread......... socialist_n_TN Mar 2013 #65

We should be raising the roof with it, truebluegreen Mar 2013 #104

It's called stealing Milliesmom Mar 2013 #72

K&R! Bravo! David Zephyr Mar 2013 #76

You make it sound as if the Boomers suffered more than any other generation. virgogal Mar 2013 #78

I think I agree. Hoyt Mar 2013 #79

In some ways, we are guilty of using up all the fun. truedelphi Mar 2013 #82

don't forget us 50 year olds admonish Mar 2013 #80

I remember those tax increases Oilwellian Mar 2013 #81

Listen to Michael Bloomberg on "entitlement" reform. It'll make you throw-up. SleeplessinSoCal Mar 2013 #83

Spoken like a true billionaire nt daa Mar 2013 #128

Take your Social Security early, in many cases! colorado_ufo Mar 2013 #85

The cuts are going to hurt succeeding generations even more eridani Mar 2013 #88

Yes, I agree with you. Totally. n/t truedelphi Mar 2013 #129

For those of us born 1983law Mar 2013 #90

You are a Gen Xer. Jennicut Mar 2013 #99

Let's remove the income cap on SS, for a start. It's not fair, and the arguments against make no Romulox Mar 2013 #98

ALL OF US chervilant Mar 2013 #105

We are unfortunately, very divided as a nation. truedelphi Mar 2013 #127

What % of DC lawmakers are Boomers? WilliamPitt Mar 2013 #106

I think that question ought to be: "What % of the Boomers in DC are IN the 1%?" WinkyDink Mar 2013 #117

cancer has taken its toll CountAllVotes Mar 2013 #107

and diabetes and heart disease.. mountain grammy Mar 2013 #112

My cousin just died of cancer, aged 60. WinkyDink Mar 2013 #116

I think they want cuts now in order to mask madville Mar 2013 #126

I'm an exbookkeeper. Cleita Mar 2013 #151

There is a BIG LIE being told here and it's being told over and over again so people Cleita Mar 2013 #140

Social Security may not be responsible for the debt customerserviceguy Mar 2013 #144

There is still $2.6 trillion in the fund. Cleita Mar 2013 #145

Again, did you see the math? customerserviceguy Mar 2013 #147

I'm quite familiar with the "math" of those who try to convince us our hair is on fire. Cleita Mar 2013 #149

Everybody has access to the same facts customerserviceguy Mar 2013 #164

You just won't give it up will you. Cleita Mar 2013 #165

Yeah, that's what people say customerserviceguy Mar 2013 #167

I went to your guru's website. Cleita Mar 2013 #169

Life expectancy at 65, for this new generation, is truedelphi Mar 2013 #162

I am and I am. And if this happens, I will send a request to Obama MotherPetrie Mar 2013 #152

Good luck with that. I'd like my money back too. truedelphi Mar 2013 #163

Raising the age to 67 is a 20% benefits cut for men. n/t lumberjack_jeff Mar 2013 #166

Can I just add one more reason Le Taz Hot Mar 2013 #168

K&R for the baby boomers.... midnight Mar 2013 #170

Not waiting until I'm 66--filed for early (62) benefits that begin in May. mnhtnbb Mar 2013 #171

That is a good point you are making. truedelphi Mar 2013 #172

Here is how someone named truedelphi Mar 2013 #173