1 vote

So just how does one live WITHOUT Social Security?

Originally published 2011-01-06 20:02:
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With all the energy now aimed at cutting Social Security (and not the Trillion Dollar Wars) by both political Parties (including Obama's own deficit commission), just how then is one supposed to live -- without Social Security?

Many jobs and occupations become unsustainable as you become older and older. People's physicial abilities and stamina simply diminish (through no fault of their own), and also the underlying technologies and skills required change and transform with time so rapidly that even well educated people can become de-facto obsolete in their jobs, and no longer marketable. And the stress level and exhaustion level for many jobs just aren't well suited for people that are in their 60s. Finally, its just a fact that health issues will make older people more frail, more vulnerable, and less effective than younger people. While there are some occupations that can be sustained into old age (successful book author, owning a successful business that's mostly run by others, etc.), many, many professions and occupations cannot be sustained. People simply need to retire, and they cannot just work until "they've fallen and can't get up" (and then how do the bills get paid?). Retirement is a necessity for most.

So to retire at the age of 65, you would need to create a yearly revenue stream for yourself that would support all of your expenses, and could last for up to 35 years.

So if you need $40,000-per-year to pay for all your housing/taxes/health-care/food/utilities/automobile/phone/internet/insurances/and other miscellaneous expenses, then this means one of two things:

1) You have savings of at least: $1,400,000.00 (40,000 * 35 years), and therefore can draw down $40,000 each and every year - until the point where you will eventually be totally broke then at age 100. Of course, if you live up to 100, or you have a major surgery or hospital procedure that Medicare won't cover, or you have some other unforseen expenses, then you're screwed anyway -- even with 1.5 million.

2) Your savings (however much that is) can be put into some investment that will predictably and safely generate back $40,000 a year, and also not lose its principal value. With interest rates at 0%-1% I don't know what the hell that would be -- such an investment simply does not exist.

___

So please tell me, how the heck do you retire without Social Security? This is just impossible for 95% of the population.

In today's times with the cost of living so damn high, people living from paycheck-to-paycheck, and Employers not giving raises, how does anyone possibly save up a whopping 1.5 Million dollars?

Most people can't even afford to buy one house (and those that do are borrowing virtually all the money).

And where oh where can you ever put your money and invest it in something -- such that it is not put at any risk, and can also generate back a steady $40K or so for paying all the bills over the course of the year?

There is no such investment. It doesn't exist.

So, for people who are not wealthy, what do you do without Social Security.

The vast majority of the people, are going to need it. But if there is some secret alternative investment strategy that I haven't heard about that will magically produce the scenarios of 1 or 2 (above) -- I'd sure like to know about it.



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See what your rant

gets you. The Government is CORRUPT there is an AGENDA the Oligarchs are closing the store, you will be on your own. The sooner you realize this and make preparations the better your chances. Ignore at your own risk, whining will get you no where.

YOUR PRIORITY is to take care of yourself because if you are hungry and protesting in the streets they will likely load your ass on a bus and deposit you to the nearest Fema prison. Once there, you are at their mercy and so far I have not heard anything positive about their plans for us.

Good luck prepare don't despair.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

Wow QS

Your post was great. I could not have said it better.
You understand and are such an asset to the DP. Thinking these thoughts means you have done your homework and no rose colored glasses for you !!
I feel honored to have had a long conversation with you when we spoke about the liberty flags and about what we as lovers of liberty were up against.

I prefer a dangerous freedom over a peaceful slavery. Thomas Jefferson

Hi! Txrasputin

Thanks, I am pretty good at dealing with reality it sucks but I wouldn't want to live life any differently.

I really enjoyed speaking to you as well and honored to know you. You were so interesting to talk to, I admire everything you have accomplished, best of luck.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

I don't believe that ANYONE is talking

about ending Social Security for those that are already dependent upon it. Nor are they talking about cutting it for those that are quickly approaching their retirement.

The talk (at least from the Ron Paul side) is about allowing young people to plan for themselves and opt out of the system. ALSO it will be necessary to cut OTHER areas in order to keep Social Security going for those that already have relied upon it being there.

The whole messed up system has to be wrenched away from the crooks, so that the market can work and money will be worth something again.

Thomas Jefferson: “Indeed, I tremble for my country when I reflect that God is just, that His justice cannot sleep forever."

Viva La Revolucion!
http://www.youtube.com/watch?v=FmaTNf4YhEs

That's what the GOP wants


I agree that Ron Paul is different, and does talk about a "transition".

But the real debt problem is the Trillions of dollars we waste overseas, and the Trillions of dollars we give to Bank crooks, our Trade deals, and our U.S. Tax code that rewards and subsidizes Mulitinational Corporations (and incentivises them to move jobs overseas).

That is the system that needs to be wrenched away.

And the market, by itself, will never produce 1.5 Million dollars out of thin air for the average person.

We need Social Security.

We need Social Security.

no, we don't. If YOU want to be part of the ponzi, be my guest, but don't be an intolerant douche and force everyone else to go along with the scam. I, nor anyone in my family and extended family, want anything to do with social security but we are forced to keep contributing.

You look after your business, I'll look after mine. Thanks.

Michael Nystrom's picture

How did people live

before Social Security?

Answer me that, and I do believe your answer you will have.

All art is only done by the individual. The individual is all you ever have, and all schools only serve to classify their members as failures. E.H.

Michael

in the 1800s the age of people was not much more than 35 to 50 years. they died of black death, collera,malaria and flu. Many died of gunshots and arrows. life was tough a few short years ago. Many starved and got sick crossing the country by wagon train. My great great grand father lost his wife and two daughters after reaching Oregon then his son came around the horn to take posession of his land when he passed. That is how we survived.

Before Social Security the cost of living was much lower.


Before Social Security existed, the cost of living was much, much lower. You didn't have health insurance monopolies, and local Doctors would make house calls.

It doesn't work that way today.

And the children today, are already burderned with high debt, and soaring cost of living expenses, and living paycheck-to-paycheck. They can barely make ends meet just by themselves. They themselves are just one "uncovered" Hospital surgery away from financial bankruptcy.

Sorry, but the old days do not exist anymore. What worked back then is all gone. And even then, it didn't hold up for very long -- because that's why Social Security came into existence in the first place.

There were too many destitute people living in poverty.
It's going to be even worse this time around.

Much worse!

Families took care of their older members

People didn't even think of "retirement" as a "right". They worked until they could not work anymore, and then their children cared for them. This is still the way it is in Mexico. It is a beautiful thing to see.

Thomas Jefferson: “Indeed, I tremble for my country when I reflect that God is just, that His justice cannot sleep forever."

Viva La Revolucion!
http://www.youtube.com/watch?v=FmaTNf4YhEs

Families are on the edge of bankruptcy


The children today, are already burderned with high debt, and soaring cost of living expenses, and living paycheck-to-paycheck. They can barely make ends meet just by themselves. They themselves are just one "uncovered" Hospital surgery away from financial bankruptcy.

Sorry, but the old days do not exist anymore. What worked back then is all gone now. The whole cost of living structure is orders of magnitude higher.

And even back then, it didn't hold up for very long -- because that's why Social Security came into existence in the first place. There were too many destitute people living in a state of poverty.

It's going to be much worse this time around.
Mass Poverty is not a beautiful thing!

If you are of retirement age

you WILL have your Social Security according to any "plan" that I have heard.

If you are young you will NOT - even if they tell you you will. WE ARE BANKRUPT. It isn't a theory..... it isn't a political trick.... IT IS OVER! IT IS TOO LATE.

Insulting people and screaming is not going to accomplish anything. You are RIGHT that the U.S. has squandered it's riches on wars, spying, and the entire corrupt system. I think everyone here agrees with you on this.

Americans are going to have to see themselves in a whole new light and redefine "riches". And I can tell you that a traditional Mexican family, living in what we would consider "squalor" is richer than any American I have ever known. They are rich in love and family and culture. Their children are laughing and happy. Their older generation is respected and cared for, even if it is in simple accomodations.

You won't understand what I'm talking about anyway... but babe... you'd better get a handle on reality because the good times are OVER!

Thomas Jefferson: “Indeed, I tremble for my country when I reflect that God is just, that His justice cannot sleep forever."

Viva La Revolucion!
http://www.youtube.com/watch?v=FmaTNf4YhEs

Right in the "middle"


I am age 50, so depending on how you look at it, I am either "young" (too far away from retirement), or quite close to retirement.

But for all of the reforms, they usually propose changes for people who are not already 55 and older -- so by the government's definition my benefits will be cut.

But I agree with you that I would be much happier living in a totally different culture such as Mexico. America is a sad wasteland of dog-eat-dog mentality, and global mass-violence. We reward looters and crooks, and treat the poor and the victims like they are the problem. It's a dumb Country.

I wrote this because I'm not sure how I will financially survive. So far, no solutions have been revealed (what little family that I have is dirt broke).


"I am age 50"

you will not be receiving any social security money most probably. If you do, the cost of living is going to most probably be MUCH higher than what it is now so the check will be meaningless.

Yep.

At this point survival skills will become very important and moral skills will become less.I fear at this point it may become a dog eat dog situation.

If I disappear from a discussion please forgive me. My 24-7 business requires me to split mid-sentence to serve them. I am not ducking out, I will be back later to catch up.

Carnal survival is of no consequence without moral survival

I'd rather shake this mortal coil good and young than bad and old.

An old joke comes to mind Mike

The old Bull and the young Bull.Experience will prevail in the end.Patience will become an important factor.

If I disappear from a discussion please forgive me. My 24-7 business requires me to split mid-sentence to serve them. I am not ducking out, I will be back later to catch up.

I don't have a tv set,

but I can remember the Waltons. I took care of my grandma for 6 years and my mother in law for 5 years in our home. It was good for our kids to relate to an older person, and to help care for them.

"The Walton's" model of society doesn't exist anymore


Referencing "The Walton's" is like saying: Well of course the drinking water coming from your faucet tap is pure and declicous.

That era simply doesn't exist anymore.

The financial cost of living is orders of magnitude higher for people today. Today, the children of older people also both have to work 50-60 hour weeks just to pay the bills.

In fact the children are stuck today in high debt situations, with such high cost of living expenses that they are just one step away from bankruptcy themselves.

The Walton's doesn't solve the problem.
The pure drinking water isn't coming back, and neither is a loaf of bread for 5 cents.


I not only mentioned the Waltons,

but mentioned that I took care of my grandmother for 6 years, and my mother in law for 5 years, both until they died of natural causes. We were not well off. In fact by the government's standards, we were below the poverty level. I worked part time at home while doing this. My husband had a part time job also.

reedr3v's picture

The current system exploits seniors for

profit. Senior retirement ghettos, walled off from productive involvement with ongoing life; the supermarkets in these ghettos or retirement facilities serve sugared, lifeless, GMO foods; chronic disease is promoted and the perpetually ill seniors are subjected to the most expensive drugs, surgeries, interventions, dialysis, "nutritionist" and therapists. They are milked like livestock of their social security and Medicaide payments.

My mom has insisted on living in a senior community for a couple decades. The conversations there? Mostly about illness and doctors, medical treatment, death, and funeral preparations.

The senior "care" industry conspires to withhold healthful diets and lifestyles that could help senior live with energy, clarity, and dignity. Without all of the government funding, people would prepare, stay in the stream of life involved with their families, and surely not be subjected to years of medically-induced decline and outrageously expensive, inefficacious medical interventions with side effects that create mushrooming, multiple illnesses. It's all a scam substituting prolonged suffering for the inevitable mortality we all face, hopefully still in a productive phase of life giving and receiving with one's family and neighbors.