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I have a question and would love to hear some honest opinions…
question:
do you think social security will be around in 15 years????
meaning that if someone who has been working all thier life and paying into social security.. do you think it will survive the next 15 years??
if you feel the answer is yes
please explain in detail
why and how????
thanks
steve
Steve,
I wish I knew, I wish I could see into the future…I would be a very rich man enjoying life in Costa Rica.
Lot’s of people make predictions on this board, gold, stocks, currencies or a total collapse of it all.
The truth is if anyone had even an inkling of what any of this stuff would actually do they would be very wealthy indeed. Even the best of the best of the best only make a great call once in a lifetime and those folks are very rare. Paulson shorting housing is one of them (this year I believe his investments are down 30%).
So how can you explain in detail a non-existent event?
I guess it’s all very interesting to hear speculation, but the reality is no one has a clue what will actually happen. It’s interesting to see on these boards all the yelling and name calling based on speculation of some future event.
If any of us were actually intelligent enough to predict with any certainty real macro economic events; I doubt you would be here on a forum about living in Costa Rica. But if it makes someone happy to spend time this way, that is their prerogative.
Regarding SS it is around now, that’s all I know with any degree of certainty.
Thank you for your reply
honestly
I believe to learn about the future is to study the past.
Ron paul had been pretty accurate regarding some of the events that has occurred over the past years.. housing collapse…etc
I was curious to know on a sample scale what people thought about social security for the future with events being played out.
it’s not rocket science when more is going out than whats coming in than something has got to give.. even printing more monopoly money will eventually run it course..
personally
I don’t think it will be around or it will morph into something much different today.
initially what will happen in my opinion and would love to hear feedback from this.
is that as we get more into our years the initial plan will be to keep moving the years one will be eligible.. 65.. 67 68 70.. all with the common reply
well people are living longer so adjustments need to be made…
when finally it just wont work anymore.
what about pensions..
I remember years ago when a government job would not make any money BUT people would still work for the goverment because of the benefits..
now they make great money and have the benefits.
a few friends just retired from the police force and they will be making $80, 000 a year for the rest of thier lives.. in pensions ( the last few years they worked double time to inflate the numbers)
my question is how long can this go on???
oh well
should be a great adventure
at least I dont have to worry about this as I plan my own future and never want anything goverment wise.
worse case scenario
if everything falls by the wayside
I can partner with Scott and sell tamales on the road near his penthouse :D:D:D:D:D:D
[quote=”*Lotus”]Steve,
I wish I knew, I wish I could see into the future…I would be a very rich man enjoying life in Costa Rica.
Lot’s of people make predictions on this board, gold, stocks, currencies or a total collapse of it all.
The truth is if anyone had even an inkling of what any of this stuff would actually do they would be very wealthy indeed. Even the best of the best of the best only make a great call once in a lifetime and those folks are very rare. Paulson shorting housing is one of them (this year I believe his investments are down 30%).
So how can you explain in detail a non-existent event?
I guess it’s all very interesting to hear speculation, but the reality is no one has a clue what will actually happen. It’s interesting to see on these boards all the yelling and name calling based on speculation of some future event.
If any of us were actually intelligent enough to predict with any certainty real macro economic events; I doubt you would be here on a forum about living in Costa Rica. But if it makes someone happy to spend time this way, that is their prerogative.
Regarding SS it is around now, that’s all I know with any degree of certainty.[/quote]
I can explain in relative detail a a couple of yet non-existent events quite convincingly based on the outcomes of previous existent events;
1. If you jump or fall out of a hundred story high window, naked, onto the pavement below, you will break at least several major bones, suffer major organ failures and die before you can bleed to death.
2. If your central bank prints and creates 23 trillions of dollars in a short time period to back up losing derivative bank bets ..and the world central bank does the same to the tune of 600 trillion dollars, you will get to see a major world depression preceded by hyper inflation which will turn your social security check into a piece of inferior toilet paper.
How’s that for accuracy and detail?
This is all a WASTE of time. After all, according to the Mayan Calendar aren’t we all supposed to be dead around December 23rd? (this year):(
Ha!…I think it’s December 21st, winter equinox. Go ahead and plan accordingly if you like. Personally, I have never paid much attention to beliefs of primitive cultures or else I would have become a christian or a Muslim. But just in case, I am going to start drawing my social security as soon as I can before the checks are totally worthless.
[quote=”smekuly”]I have a question and would love to hear some honest opinions…
question:
do you think social security will be around in 15 years????
meaning that if someone who has been working all thier life and paying into social security.. do you think it will survive the next 15 years??
if you feel the answer is yes
please explain in detail
why and how????
thanks
steve[/quote]
It will still be around.
The issues that SS faces could have been resolved as long ago as the early 1950’s but congress has ignored the issues of longer life spans and the baby boomers for the past 60 years.
If they had taken action in the 1950’s the correction could have been made with the assitance of those of us who are already retired but as it is now the boomers will be financed on the backs of their children and grandchildren.
How could any of us know how long social security will last? I am unsure as to how long the US dollar will last. Fifteen years is a long time in the context of what is happening right now.
The military taught me to always have a Plan B. My Plan B is, dividend paying stocks, treasury bonds, corporate bonds and international corporate bonds. If I get social security fine, if not, I can still maintain my standard of living.
[quote=”sprite”]hmmmmm….all paper assets. No gold, silver or real estate?[/quote]
Real Estate? What a [b]great[/b] investment that’s been……
May not be a bad time to buy real estate now, especially for those that plan to hold it 7-10 years minimum. If we get the hyperinflation that some are expecting a fixed rate mortgage at the current low rates will be very good.
Certainly gold has been a real winner.
With the predictions for 2012 I would stay away from real estate. I believe the market is in for a much needed correction. Prices today are unrealistic given the economy. Sellers are trying to recoup their investment when they bought at the peak and I don’t blame them, however after they sit on those prices for a year or two as is the case now, they will need to lower prices to sell. When you consider the RE market in the US where folks can’t sell and reinvest in CR and the mortgage loan terms in CR, the market is indeed still inflated. I have been watching the market in CR for over 2 years now and this is ONLY my conclusion. I’m sure others may differ.
YES, It will still be with us in 15 years.
WHY? Because they are still taking money out of millions of paychecks as part of the “system”. No matter how bad things get NOTHING would be as bad for the U.S. Government as denying the promised benefits. There would be a violent revolution in the U.S. if this occurred.
Now. . what MAY disappear is Medicare and Medicaid as they were not promised benefits.
AND the value, due to printing more paper money to make the promised payments may be worth less and less. . . At least HALF at the current rate of real inflation (based on oil prices and the fact that EVERYTHING important is being tied to oil).
The real question should be, “Will MY SS benefits still be accepted as a pension for residency in Costa Rica when the time comes?”
The amount necessary to obtain residency was increased a few years ago. Will it go up again? With a devaluing dollar and increased costs they could easily double it 15 years from now and not be equivalent to today’s money.
[quote=”Disabled Veteran”]The military taught me to always have a Plan B. My Plan B is, dividend paying stocks, treasury bonds, corporate bonds and international corporate bonds. If I get social security fine, if not, I can still maintain my standard of living.[/quote]
what I told my wife, dont put eggs into one basket. Trying to convince her to let me take some money in savings and invest in CR.
Would still leave $$ in for rainy day, plus investment in CR might yield earnings….a lot of people are old school thinking, wanting to put money into CD’s,etc….as if a bank run would allow for those to be taken out and used….
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