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pnwmom

(108,925 posts)
6. Your mother in law appears to have lucked out, but with the direction government has been going
Wed Mar 27, 2019, 09:18 PM
Mar 2019

I wouldn't count on that for people in our generation. They're already looking for every way they can slash Medicare and Medicaid.

depressing Demonaut Mar 2019 #1
At least in my case, I have been saving since my 20s. susanna Mar 2019 #103
they were your gains, you anticipated correctly Demonaut Mar 2019 #105
And yet... susanna Mar 2019 #106
Those with defined benefit plans may also not be receiving that much. llmart Mar 2019 #2
Same here in Germany DFW Mar 2019 #4
I worked for a municipality for about 8 years. llmart Mar 2019 #5
I fortunately make enough to preclude her ever sinking into poverty DFW Mar 2019 #13
I won't ever sink into poverty either, but it bothers me that other senior women will. llmart Mar 2019 #30
Most public safety union plans pay 50% of some average of their last wage. Mosby Mar 2019 #68
My husband just retired as a ff at the end of January. He is 62. He also doesn't get anywhere seaglass Mar 2019 #83
did he get a sick/vacation payout? Mosby Mar 2019 #84
No sick payout, that was eliminated about 20 years ago I think. The only vacation pay he got was seaglass Mar 2019 #89
Well it does depend on the plan, how much you made and how many years you accrued UniteFightBack Mar 2019 #88
Those non-savers are the lucky ones! at140 Mar 2019 #3
Your mother in law appears to have lucked out, but with the direction government has been going pnwmom Mar 2019 #6
Yep, boomers don't realize how lucky they are and how fucked the younger generation is ansible Mar 2019 #7
We can and should fix social security for younger people by a combination of raising the cap pnwmom Mar 2019 #11
Yes! Delphinus Mar 2019 #79
I just learned that today's CPI would be 4 times larger based at140 Mar 2019 #12
I do. I'm a boomer and every time I do anything politically ooky Mar 2019 #67
Why do you think you are entitled to interest in an inflation free decade? riverine Mar 2019 #8
The condo I bought for $159k in 2011 is now going for at140 Mar 2019 #14
You bought your condo during the real estate crash of 2008-2012 and millions of foreclosures. riverine Mar 2019 #18
And the seniors who saved their pennies at140 Mar 2019 #20
Wrong...my healthcare insurance has escalated steadily from 1998 on at140 Mar 2019 #21
Congress gave the Federal Reserve just two mandates - Employment and Price Stability. riverine Mar 2019 #24
Bernanke/Yellen have robbed seniors more than all at140 Mar 2019 #25
You should thank them for your 3.5% mortgage you got in 2012. riverine Mar 2019 #26
Our first mortgage was over 10% and the 2nd was 15.64% SoCalDem Mar 2019 #32
Yes but at least you could still write it off on your taxes. gldstwmn Mar 2019 #63
At that time our income was not enough to SoCalDem Mar 2019 #66
If I need a mortgage at age 72 (in 2012) at140 Mar 2019 #99
Yep. llmart Mar 2019 #10
No kidding, the money goes from my IRA to cash account, at140 Mar 2019 #17
Congress should remove RMD or at least increase the age spooky3 Mar 2019 #27
Agreed! It is an onerous tax on seniors...nt at140 Mar 2019 #28
How does that work, exactly? Mariana Mar 2019 #77
Here is how it can happen... at140 Mar 2019 #98
OK, but that isn't what you claimed. Mariana Mar 2019 #100
You GOT the deduction for it when you earned/saved it..paid no tax SoCalDem Mar 2019 #33
I got no deduction when I earned it. llmart Mar 2019 #35
That $2000 was and still is deductible A HERETIC I AM Mar 2019 #40
Nope. Most of it did not come right off my AGI. llmart Mar 2019 #54
And if those contributions were non-deductible they dumbcat Mar 2019 #61
Yes, I know all about Form 8606. llmart Mar 2019 #64
And you are correct in your reply dumbcat Mar 2019 #70
What a coincidence! llmart Mar 2019 #72
Another coincidence, and dumbcat Mar 2019 #78
Oh brother. llmart Mar 2019 #94
Fair enough A HERETIC I AM Mar 2019 #62
While it's true that all IRA contributions weren't deductible Mariana Mar 2019 #101
"those of us who saved our pennies, have seen the value of our savings dwindle at a fast clip" brooklynite Mar 2019 #56
I feel this post very keenly. susanna Mar 2019 #104
If half of older households depend on SS, why is Trump trying to cut it? procon Mar 2019 #9
He expects them to Runningdawg Mar 2019 #16
Trump got his tax cut, so he has to cut else where at140 Mar 2019 #19
He wants to give the money to himself and his friends Mr Tibbs Mar 2019 #57
Which is compounded by the fact Yo_Mama_Been_Loggin Mar 2019 #15
Very few people today stay with the same employer for decades MichMan Mar 2019 #22
Except for governmental work shanti Mar 2019 #65
I got a little to supplement social security and the house paid for, but it was tough... PeeJ52 Mar 2019 #23
Many people don't know this but just because a company matches your contribution... llmart Mar 2019 #29
So true GP6971 Mar 2019 #31
Matching Is A Competitive Thing ProfessorGAC Mar 2019 #38
That's what I argued against when our union was voting on switching from pension to 401(k)... PeeJ52 Mar 2019 #42
Why wasn't the match included as part of the union contract? MichMan Mar 2019 #49
Non negotiable as far as I am aware... PeeJ52 Mar 2019 #51
I can absolutely relate to your experience. llmart Mar 2019 #55
The little man can't get ahead in tRumpeconomics Joe941 Mar 2019 #34
Employers largely to blame. Dropped pension Laura PourMeADrink Mar 2019 #36
We've been self-employed much of our working lives, so our retirement plan is keep working. Vinca Mar 2019 #37
Kind Of Makes Me Feel Like A Freak ProfessorGAC Mar 2019 #39
This has all been known for years. I've said for a long time schools need to teach basic finance.... machoneman Mar 2019 #41
Some people don't have extra money to save. Get it? Nt USALiberal Mar 2019 #43
Thank you. MrsCoffee Mar 2019 #45
Amazes me sometimes how people do not know how some people scrape by. Nt USALiberal Mar 2019 #46
The issue is "some" vs "most" brooklynite Mar 2019 #58
Easy for you to say. Nt USALiberal Mar 2019 #59
I'm sure that's the reality in the circle of the rich and famous. MrsCoffee Mar 2019 #69
So true! Nt USALiberal Mar 2019 #74
Comforting (and self-serving) allegation... LanternWaste Mar 2019 #71
My wife and I started out with Government salaries... brooklynite Mar 2019 #73
Somehow predicted this response. Nt USALiberal Mar 2019 #75
You make it sound like that was a brilliant strategy. llmart Mar 2019 #95
I'm delighted you love your kids... brooklynite Mar 2019 #97
Thank you! Nt USALiberal Mar 2019 #76
Based on what numbers? BlueWI Mar 2019 #87
It's about dignity Johnny2X2X Mar 2019 #44
I am close to retirement but worry about a crash. Nt USALiberal Mar 2019 #47
Do you have a financial adviser? Johnny2X2X Mar 2019 #48
My advisor..... USALiberal Mar 2019 #50
Got to stay as healthy as possible and plan on working till death do you democratisphere Mar 2019 #52
This entire discussion shows how far our country has fallen Johnny2X2X Mar 2019 #53
+1 Chin music Mar 2019 #81
I agree! Lifelong Protester Mar 2019 #85
Most employers match 401k contributions up to a certain percent. gldstwmn Mar 2019 #60
You are right there is an order to tax deferred withholding exboyfil Mar 2019 #82
hi- I'm 50, and I have $15,000 in a 401k..... and I just bought a house TalenaGor Mar 2019 #80
Yep Smith and Wesson retirement plan for me Still In Wisconsin Mar 2019 #86
gonna have to work till i die. KG Mar 2019 #90
I'm used to living on $1192 a month SSDI so I'm good to go. Kaleva Mar 2019 #91
.. Demovictory9 Mar 2019 #93
what about traditional savings accounts, equity in homes, savings other than 401K? Demovictory9 Mar 2019 #92
Of course they have no savings.... clementine613 Mar 2019 #96
$3.93 Aussie105 Mar 2019 #102
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