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If I am paying into SS in my 20s and expect to get, say, $1000 per month in my 60s, and I responsibly design my 401k savings etc around that promise, and then h
by maerF0x0 8y ago
If I am paying into SS in my 20s and expect to get, say, $1000 per month in my 60s, and I responsibly design my 401k savings etc around that promise, and then have it taken away because I saved more than the average person then I will have a $1000 hole in my budget .
Itd be no different than a bank keeping the contents of my savings account and giving me the excuse "we changed the rules"
- krapp 8y agoExcept Social Security isn't a bank account, nor is it really a "promise," at least not a promise of a specific return on investment. One could argue that designing your financial expectations around that program remaining exactly as is for the forseeable future given that history wouldn't be reasonable - any number of events could lead to that $1000 hole in your budget. Who's "keeping your savings" when stocks fall or inflation rises? But, if the feasibility of the Social Security program as a whole depends on restructuring the program, as it has in the past, then I believe it's better for society that those cuts be distributed to those who can best afford them.