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My Company is offering a payout for my retirement, Should the government do the same for Social Security?
I am not near retirement yet
- ms mannersLv 77 years agoFavorite Answer
That would be fine with me.
But there is no way the government would let go of that amount of money, not to mention control.
- TortfeasorLv 67 years ago
There is no money available to give payouts. Since 2011 or so, distributions to current retirees exceed the amount of contributions into the system.
Some people have said that they will let the government just keep all the money they have paid in so far in exchange from being relieved of the obligation to continue paying into the system. The government won't permit that, either. Once it is possible to opt out of Social Security, the system will collapse. That's why some people compare it to a ponzi scheme.
- ?Lv 77 years ago
No, our government should not offer a buy out. If anything our government should strengthen Social Security.
Several of us at my work are in our sixties and would like to retire. But the calls for screwing us out of our Social Security and our pensions have us scared. So we figure as long as we have our health we'll keep working.
In the normal order of things we would retire and thereby open up a position for younger folks. It's another example of how the GOP screws people over without even trying.
- Max HooplaLv 77 years ago
Sure. If you are willing to starve and not be a burden on taxpayers after you blow through your payout.
And btw: your company is not offering a payout for you benefit but for theirs. If you figure the present value of what you are likely to get by waiting I'm pretty sure you will find it is a lot more that the present value of a payout. Get professional advice before taking it.
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- justaLv 77 years ago
No because if your retirement funds are invested in the stock market and it tanks during your dotage, you'll be coming to the government to bail yourass out.
- KiniLv 77 years ago
The government does not pay all of your future benefits at one time. No one knows how long you will live.
- Anonymous7 years ago
People who want to retire (stop contributing and start vegetating) should save up for it themselves. I am opposed to pensions
- Anonymous7 years ago
All the money is gone. Besides most people are so stupid they would blow it all and be helpless in their old age.
- 7 years ago
yes... and PARTICULARLY for medicare... and NO backsies...
many cons would jump at it... and we would save TRILLIONS over the next 100 years
EDIT: pass a spending bill for $50 billion... no biggie... put it on the debt and it would save 100 times as much in the long run...
- PixieLv 77 years ago
Sure would be better in our hands than the 1.02% interest we get from them.