The word is, in 2022 retirement age will be 67; Is this better than 66?

Jump to Last Post 1-7 of 7 discussions (7 posts)
  1. proton66 profile image60
    proton66posted 7 years ago

    The word is, in 2022 retirement age will be 67; Is this better than 66?

    There is much controversy on whether or not to increase the retirement age. Some like the idea because by working longer, more money goes to the SSN acct. thus less money is needed to save for retirement. On top of that, the predicted future funding gap would be filled. On the flip side, it will affect low income earners already depending on it.

    https://usercontent2.hubstatic.com/3912117_f260.jpg

  2. point2make profile image79
    point2makeposted 7 years ago

    It is quite possible that by 2022 there will be "no" retirement age. Because of the unfunded liability the US government is facing retirement may well be an unattainable dream for most. It is a very difficult position to put people in but unless we find a way to fix the serious problems with the social security fund we may all lose our choices.

  3. Jed Fisher profile image86
    Jed Fisherposted 7 years ago

    (However....) Social Security had a 2.4 trillion dollar surplus in FY 2009. The projected future gap is based on old numbers for immigration, where the US was absorbing 3 million people a year and the old norms of inflation, a 6% annual rate. Both of those vriables have changed drasticly, with an immigration rate that has fallen off a cliff and an absence of inflation. Also, with the greater empahsis on workplace safety and advances in preventative medicine, disability expenditures have also tapered off substatially.
    As for retirement age, retirement is really a state of mind that comes into play when a person becomes debt-free; after that, a job is not really work, it's just something to do to keep busy.

  4. proton66 profile image60
    proton66posted 7 years ago

    @ point2make...so, the possibility of no retirement age supposedly will improve things for everyone? It seems to me that the original concept of having SSN has been twisted, and that it is like putting money in a tin can with a false bottom. All we hear is the advantage of working till 68 or 70 but, by the time one gets to dip into their acct, there is hardly anything left or, is it a ploy for shorter pay out?

    @Jed...I agree that it can be considered a state of mind but the problem is, ppl are paying into the SSN. Debt free is applicable if u r talking about a car or house loan but, ph or electrical bills don't go away. What I mean is, most home owners, for example, would like to pay off their house loans quickly but, how can they if the govt takes 8% on tax, SSN, and so on? In the end there is hardly any money to retire on. If this is not the case, then what is? And to say, 'job is not really work, its just something to get you busy' suits very well with someone who's got money and hangs out at the beach a lot!

  5. Tom T profile image65
    Tom Tposted 7 years ago

    I think that not only will it be raised, it will be raised even more and eventually means tested.  The minimum wage kills more jobs than raising the retirement age. People can still retire but they don't get their full benefit until that date.  This is a nasty problem and our government keeps pushing it down the road.

  6. profile image0
    ellie.wposted 7 years ago

    I don't know that it will have much of an effect; most people who can afford to retire earlier will retire when they want--they don't trust Social Security, nor are they going to keep working just to get benefits.  It's getting to the point now where it's increasingly difficult to live solely off of SS, so low-income workers might be forced into working past retirement age regardless of their benefits.

  7. Patty Inglish, MS profile image93
    Patty Inglish, MSposted 7 years ago

    Too late! - In 2010, I received my SS letter that I may retire with full benefits at AGE 70. 

    Controversy and complaint will not change the feds' minds about the age. Way back in 1994, we heard in medical classes that the age will raise until AGE 75. Further, the feds can raise the age any time they wish.

 
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://hubpages.com/privacy-policy#gdpr

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)