Social Security life expectancy fact.......2.6 years longer working life in 50 years

I just heard on the radio that taking out birth death rates, and focusing on work life expectancy, that in fifty years the life expectancy has only increased 2.6 years or about 32 months.

Why can't we take the age of retirement back one month for the next 32 years. The logic is that life expectancy will probably improve over the next 32 years, but we will slowly be correcting the actuarial tables. A forty year old paying into the system will be looking at 67 for full benefits, but more importantly than this incremental change will be taking the cap off social security earnings being taxed. Why can't these two simple modifications be made an bring total solvency to SS not for 35 years, but forever. The 3 trillion surplus will remain a surplus........despite the babyboom bubble.

If all goes well and my health stays good, I am working until 63 and then hanging it up. My wife retires about the same time and I want to spend the rest of my life doting after her for letting me gallavant around the world putting "foot in arse" for my country. Trying to wait until 67 is a reach for most people Seaoat, including yourself. I'm taking my reduced benefit at the aforementioned age of 63. It will take the average 70 year old who takes his/her benefits at that age neary 14 years to catch up.

2seaoat wrote:I just heard on the radio that taking out birth death rates, and focusing on work life expectancy, that in fifty years the life expectancy has only increased 2.6 years or about 32 months.

Why can't we take the age of retirement back one month for the next 32 years. The logic is that life expectancy will probably improve over the next 32 years, but we will slowly be correcting the actuarial tables. A forty year old paying into the system will be looking at 67 for full benefits, but more importantly than this incremental change will be taking the cap off social security earnings being taxed. Why can't these two simple modifications be made an bring total solvency to SS not for 35 years, but forever. The 3 trillion surplus will remain a surplus........despite the babyboom bubble.

Democrats refuse to allow any changes. They believe we have a money tree or the cash is coming from Obama's Stash.

I think you could keep early retirement at 62. Full retirement would be at 67 in 30 years. Plenty of time for people to adjust. I am taking early retirement at 62 next December. I will not live to 65 so my choice is easy. However, if I am 40, I would have plenty of time to adjust.

2seaoat wrote:I think you could keep early retirement at 62. Full retirement would be at 67 in 30 years. Plenty of time for people to adjust. I am taking early retirement at 62 next December. I will not live to 65 so my choice is easy. However, if I am 40, I would have plenty of time to adjust.

Full retirement for someone of my age is 70. I have to work through age 63 to earn DROP. That is the only reason I won't be retiring at 62.

2seaoat wrote:I think you could keep early retirement at 62. Full retirement would be at 67 in 30 years. Plenty of time for people to adjust. I am taking early retirement at 62 next December. I will not live to 65 so my choice is easy. However, if I am 40, I would have plenty of time to adjust.

exactly one month earlier than me. You would be nuts to wait until 67. Wait, seaoat don't we go at 66 for full benefits, 65 for medicare??

I can't remember, stress has burned my memory out, and yes there is a chemical reason for this.... (Why Zebras Don't Get Ulcers )

Wait, seaoat don't we go at 66 for full benefits?

1943-1954 66

You are correct. I will continue working at 62 and will pay my wife a salary. All during her years as a teacher, I paid her a salary so she could get minimum quarterly qualifications. She is fully medicaid qualified as a result, and all I do is give her a big raise when I retire......I use a straight schedule c tax return, and I have already a proven track record of paying her a salary.....I have her do the books with quickbooks.......so my reduction of ss benefits will be much less as she pulls a good salary, and therein reduces my income. I will never see one day of 66. However, when I pass because of my wife's large government pension.....she will see only a few cents on the dollar of social security benefits after my passing.......most of what I paid in will never leave the system.....and this happens much more than is discussed....premature death......illegal aliens who pay in for thirty years on a false social security card, but will never take benefits.......Small changes of a few months over the next thirty years will keep social security solvent....but most importantly......end the cap on income, and make people pay all the way up to a million dollars of income.

PACEDOG#1 wrote:

2seaoat wrote:I think you could keep early retirement at 62. Full retirement would be at 67 in 30 years. Plenty of time for people to adjust. I am taking early retirement at 62 next December. I will not live to 65 so my choice is easy. However, if I am 40, I would have plenty of time to adjust.

Full retirement for someone of my age is 70. I have to work through age 63 to earn DROP. That is the only reason I won't be retiring at 62.

I'm 48. Been in the DROP for two years now. Me and my buddy are gonna get a gig stocking ATM machines when I finally sever from the FD. Gptta do something til sweetie decides to retire.

Gunz wrote:

PACEDOG#1 wrote:

2seaoat wrote:I think you could keep early retirement at 62. Full retirement would be at 67 in 30 years. Plenty of time for people to adjust. I am taking early retirement at 62 next December. I will not live to 65 so my choice is easy. However, if I am 40, I would have plenty of time to adjust.

Full retirement for someone of my age is 70. I have to work through age 63 to earn DROP. That is the only reason I won't be retiring at 62.

I'm 48. Been in the DROP for two years now. Me and my buddy are gonna get a gig stocking ATM machines when I finally sever from the FD. Gptta do something til sweetie decides to retire.

Totally unrelated, do you live in the Florida Keys?