Boomers prepare for Social Security

Boomers prepare for Social Security

There are 1 comment on the Tampa Bay Newspapers story from Jun 21, 2012, titled Boomers prepare for Social Security. In it, Tampa Bay Newspapers reports that:

More than 75 million babies were born in the United States between 1946 and 1964.

Join the discussion below, or Read more at Tampa Bay Newspapers.

ScottEngageAmeri ca

Brooklyn, NY

#1 Jun 22, 2012
What they should prepare for is the fact that Social Security is running out of money.

The 2012 Trustee's Report details the exhaustion of the Social Security trust fund reserves in 2033, three years earlier than projected last year ( ). Yes, it is true that even after the fund is exhausted Social Security will be able to pay 75% of benefits, but how is being able to meet only three quarters of its obligations acceptable?

Clearly, something needs to be done and reform must take place: either by raising the wage cap, by increasing the retirement age to keep pace with longevity, by means-testing and eliminating benefits for very high income seniors, or by some combination of these proposals.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Retirement Discussions

Title Updated Last By Comments
News Layoffs, if they come, could affect grant Oct 19 Andy Taylor 13
News Bruce Poliquin is no friend to Maine's working ... Oct 9 longtail 1
News Bce Inc. (Bce) Shares Bought by Tower Research ... Oct 4 Wind Unlimited eh 1
News Salem woman arrested after OD in front of daugh... (Oct '15) Oct 3 arrested again 2
News Senate panel backs bill to protect miners' reti... Sep '16 Wish4549 19
News Views and News: Nationalization of retirement (Aug '10) Sep '16 Seluna 137
News Defined Benefit Might Be More Risky Than Define... Sep '16 Seluna 1
More from around the web