FC Posted March 17, 2023 Report Share Posted March 17, 2023 https://youtu.be/2qiGvVe3-Nw Quote Link to comment Share on other sites More sharing options...
Dr.Hess Posted March 17, 2023 Report Share Posted March 17, 2023 25% cut in 9 years. I don't see that happening. More likely the dollar will continue to be inflated away in a controlled demolition so that 25% cut just vanishes. I am eligible sometime this year on an early SS. I am considering it. Mathematically, if you plan on living to 80, you're better off waiting to get your SS. My breakeven is 78 years old, so if I start at 62, I'm ahead until I hit 78 and change. Now, I have a theory that when they whack SS or inflate the problem away, people getting it already will be in a different class than those that have put it off. Of course, there is also Hess' Rule involved here, which says that no matter what, the government will screw Hess. I was the first year to have to register for the new draft, I was the first year to have to go to 67 to get full SS benefits, tuition at medical school was raised from about 1500/semester to >10K/semester just as I got there. So, chances are that I'm going to get screwed here. Quote Link to comment Share on other sites More sharing options...
FC Posted March 18, 2023 Author Report Share Posted March 18, 2023 That was a HUGE tuition jump! We all know the answer to the problem of the cost of maintaining the elderly- early death! Sounds like it can't happen, but those with the purse strings understand that to save the system, the elderly have to check out early. Quote Link to comment Share on other sites More sharing options...
Dr.Hess Posted March 18, 2023 Report Share Posted March 18, 2023 Tuition was controlled by a Texas Constitutional Amendment, and medical school was the same as undergraduate school. Then they (legislators, etc.) looked around and said "What's everyone else charge for medical school tuition?. Huh. OK, add 9K worth of 'building use fees....'" Quote Link to comment Share on other sites More sharing options...
Dr.Hess Posted March 19, 2023 Report Share Posted March 19, 2023 I've been doing some maffs. ASSUME that if I retire at 67 I get $3100/mo in SS. If I retire at 62 and 1 month, I get 70% of that, or $2170/mo. There is a breakeven point where if you wait to full retirement age, you will get more total from that point on. That breakeven point is 16.4 years, or 78 years old. This number, or the maffs on it, is widely published. I think there's even a tool on the ss gov site. HOWEVER, one thing that is not taken into consideration is if you don't really "need" the money and can invest it and live off of your other investments. So, take the $2170 and put it in something that makes x% interest, compounded monthly and what do you get? Well, if my maffs is not messed up: at 1% ROI, the breakeven is 17.5 years, 79 years old. at 2% ROI, the breakeven is 19.3 years, 81 years old. at 3% ROI, the breakeven is 24.2 years, 86 years old. at 4% ROI, the breakeven is NEVER. That's right, if you can get 4% ROI, the $3100/mo will NEVER catch up to the $2170/mo. Quote Link to comment Share on other sites More sharing options...
FC Posted March 21, 2023 Author Report Share Posted March 21, 2023 Based on how long my grandparents lived, and my parents are both still alive, I'm way better off waiting. Who knows what the value will be of future currency though? I'm fine without it. Quote Link to comment Share on other sites More sharing options...
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