If Social Security is unavailable in the future, what will the citizens aged 65

Jump to Last Post 1-5 of 5 discussions (6 posts)
  1. whonunuwho profile image52
    whonunuwhoposted 11 years ago

    If Social Security is unavailable in the future, what will the citizens aged 65 or older, do?

    Social security is estimated to keep 40%of Americans aged 65 or older our of poverty. What will happen if it is no longer available for its deserving recipients?

  2. LandmarkWealth profile image67
    LandmarkWealthposted 11 years ago

    Social Security is not going to be unavailable.  The benefits need to be altered do to serious actuarial problems.  Possibly altering the age in which you collect.  Or returning it to the way it was originally designed as an individual account.  But it will not dissapear altogether. It is highly probable the age to collect will be adjusted up for full benefits, which currently start at 66 for younger workers.   When the plan was designed the average life expectancy was only a couple of years beyond the full benefit date.  The plan was never to pay people 25-30 years of benefits.  That is a recipe for disaster with a retirement fund that has no capital investments.  It is mathamatically impossible to keep up with inflation.  Even with the proper investments, well run pensions are having similiar actuarial problems with life expectancies increasing. 

    The most important thing for future retirees to do is focus on other forms of retirement planning and try and save at least 10% of their gross income per annum.  Preferably in tax sheltered sources.  SS was never designed to retire on as a primary income source.  It was to supplement your retirement.  It is the citizens responsibility to cover the majority of their retirement planning needs.  The sooner you start the more powerful the effects of compounding tax deferred growth will be.

  3. lburmaster profile image71
    lburmasterposted 11 years ago

    It's interesting that you say if. I have already accepted social security will not be there for me. Which means I need to save more now. A lot of people won't plan ahead and the government will have to create a new program.

    1. whonunuwho profile image52
      whonunuwhoposted 11 years agoin reply to this

      I really do not expect all social security benefits to disappear. I hope that for the younger folks they will still have a back up. whonu

  4. duffsmom profile image60
    duffsmomposted 11 years ago

    If that were to happen, I think it may be necessary to return to the Extended Family model where generations reside together.  The current model of the Nuclear Family has gotten away from caring for our elderly.

  5. teaches12345 profile image78
    teaches12345posted 11 years ago

    I posed this question last night in our college classroom and many stated that the communal family would once again appear.  It would be impossible for some seniors to live without the support of their children.  Sadly, the nation is slowly realizing this, but it also gives us the opportunity to plan for the future for ourselves and parents.

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
ClickscoThis is a data management platform studying reader behavior (Privacy Policy)