Social Security

You guys were a huge help for the last discussion board I had so maybe some people will have some ideas about social security to share Again, with resources would be fantastic. Thanks in advance.

This week explore and become familiar with the Social Security Program. Does this program have inequalities, and does it meet some people’s needs better than others? What roles do professional identity, health, money issues, social support, family, educational background, and preparation, play in a successful retirement? What have been your observations of the impact of retirement on people you know? Rowe and Kahn have said that older men and women are an underutilized, productive resource. How can we as a society best tap the experience, energy, and motivation of older people?

I feel that a lot of pension schemes are set up in order to fund people who didn't plan for retirement. Now not everyone gets lots of money to save a nest-egg to retire on, but I have lived frugally and had savings yet had friends on more money who were always hanging out for payday. Pensions are essentially to fund a lot of these sorts of people, those that will put internet ahead of health care, those that will put cable TV ahead of savings and investments. :angrydude:

I acknowledge that some pensions are for carers and people with disabilities which I have no issue with.

The point about retired people being an untapped resource is an interesting one. People lose their motivation and value without passions. Our society essentially teaches us to create value through our jobs. Keeping people involved in work or community groups or volunteer schemes has been shown to improve lifespan and quality of life in seniors. I've seen it with my own parents to some extent.

The Creator said:

You guys were a huge help for the last discussion board I had so maybe some people will have some ideas about social security to share Again, with resources would be fantastic. Thanks in advance.

This week explore and become familiar with the Social Security Program. Does this program have inequalities, and does it meet some people’s needs better than others? What roles do professional identity, health, money issues, social support, family, educational background, and preparation, play in a successful retirement? What have been your observations of the impact of retirement on people you know? Rowe and Kahn have said that older men and women are an underutilized, productive resource. How can we as a society best tap the experience, energy, and motivation of older people?

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Sure, of course they can be an untapped resource, especially those with experience and insight on many issues, further they often have a better historical perspective on things because they lived through them. But, why does this have to be done via social security? If anything, social security encourages laziness in those who once they qualify, instead of continuing to work and contribute, social security gives the incentive to people who once they qualify they become dependent on the distribution of funds from the taxes of younger workers.

I basically agree with Tim as well on people associating value with jobs. I look at the education sector where teachers qualify for a pension after 30 years, at least where my mom teaches. My mom has currently taught enough years to achieve her pension, and she is in her mid 50's. I know there are some instances where people are essentially encouraged out of their jobs once they reach a certain age, and after this, what's left? My mother could easily teach another 20 or so years, which is something she loves doing. Why should she retire now and sit on her ass the rest of her life? If you want to best utilize the energy, experience and production of older people, let them keep their jobs, remove the incentive for them to give up their jobs,

But, like seemingly every government program, the problem with it is that it's broke. This is an excellent article that crunches the numbers:

http://mises.org/story/3469

This is probably a better, more thorough look at social security, by Dr. John Attarian. He's probably the go to guy on issues of Social Security, I'd look into anything by him.

http://tinyurl.com/yjhjjct

Wow thanks a lot for the input guys. Gotta be honest, this class is kinda teaching me a lot through these discussion boards.