My how times have changed (yes they actually have) - a little generational venting

[TonyMac]

Social security is paying for alot more than it should. An associate of mine is 62 with four kids under 15. He gets extra money for those four kids, even tho' he did not pay extra money in for those four kids. If social security was run correctly, and only those who paid in got anything out, it could show a surplus, and no one who has studied the situation disagrees. But lots of people pay nothing and get lots from social security, and there's the problem. I absolutely paid for what I get, I believe the roi is south of 3%.

[R.Wold]

Originally Posted by TonyMac

Social security is paying for alot more than it should. An associate of mine is 62 with four kids under 15. He gets extra money for those four kids, even tho' he did not pay extra money in for those four kids. If social security was run correctly, and only those who paid in got anything out, it could show a surplus, and no one who has studied the situation disagrees. But lots of people pay nothing and get lots from social security, and there's the problem. I absolutely paid for what I get, I believe the roi is south of 3%.

For most people the ROI is negative. It’s designed that way so people can get addicted to drugs, claim they are thus disabled, and then get paid social security disability so they can stay that way. It’s quite clear that there are a whole lot of govt employees etc who see job security in having as many people dependent on government as possible. Is this gettin political? Wasn’t me at to be, just kinda came out that way I guess, depending on how you look at things. I‘ll shut up now....

[Solo_RV_Guy]

Originally Posted by R.Wold

For most people the ROI is negative. It’s designed that way so people can get addicted to drugs, claim they are thus disabled, and then get paid social security disability so they can stay that way. It’s quite clear that there are a whole lot of govt employees etc who see job security in having as many people dependent on government as possible. Is this gettin political? Wasn’t me at to be, just kinda came out that way I guess, depending on how you look at things. I‘ll shut up now....

Social Security *disability* is a separate fund from the *retirement* benefit fund. If you know someone getting 'crazy cheque' the money is not reducing the pool of retirement benefits. If you think they're faking a disability the SSA has an investigation division...

[Linda Bohr]

Originally Posted by bass player

Gee the common statement that I have heard in my 67 years is: Dad worked hard and sacrificed so that my life would be easier and I would be better educated then the previous generation. What about all the man made stuff that was sold to us to make life easier. Think motorized anything and everything. I bet the majority of you "whine" when the A/C in your rig stops working or when the TV signal from your satellite dish drops out. We are all lazy and have are "hands out".

I really take issue with we are "all lazy and are hands out". If I have a gripe about my broken appliances, the only hand out is me dialing the fix-it man. The money to pay for the repairs comes from my own hard-earned money. I don't look to anyone one else, government or relatives or friends or kids, to bail me out. My kids will be taken care of more than most when I kick the bucket and I'm proud to be able to leave them well off. But the money and assets came from hard work starting from nothing. My kids appreciate us and love us and that is all that I could ask. I'm sure that there are a lot of responders on here that can say the same thing. I bet they didn't have their hands out either.

[Glennabbott1]

This thread has totally derailed!!!!

[R.Wold]

Originally Posted by Glennabbott1

This thread has totally derailed!!!!

Except to the extent that it still pretty much seems to be “generational venting”

[Solo_RV_Guy]

Originally Posted by R.Wold

Except to the extent that it still pretty much seems to be “generational venting”

"We ARE the generation gap!" (from COMPANY! by Stephen Sondheim/George Firth)

I'm too old to be young, too young to be old.

Let us know how the granddaughter conversations go. If she's as reasonably on top on things as you say she is, this is temporary. The chats with your daughter may be another matter...

[roblaura]

This is my last comment on this thread. Medicare does use up a lot of tax dollars, and Social Security income from taxes is less than what is being paid out because of the large cohort of retired 'Boomers.' However, Social Security could be easily fixed. Just remove the cap on earnings for FICA, which would have no impact on 80% - 90% of US tax payers. Also, change the formula for COLA increases to one that is a little less generous (Don't yell - I know - the current increases are small). Medicare exists because in 1965 for-profit insurance companies refused to issue affordable individual insurance policies to persons over 65. Healthcare is too costly (I was a healthcare executive); mostly because there is little price competition among providers, and insurance companies make administrative costs the highest in the world. However, we could easily drop the cost of prescription drugs by simply letting Medicare directly negotiate prices. But unfortunately 'Big Pharma' has enough political clout to keep this from happening. Lastly, consider that about 70% of the US economy is domestic purchase of goods and services. The other 30% is the export of goods and services. Thus, when the government receives tax dollars and gives them back to individuals through various programs such as Medicare, Medicaid, Social Security, and the Earned Income Tax Credit, it is promoting the economy by giving residents money to spend on goods and services in the private sector. The only problem is when the government spends and gives back much more that it receives, but that is a debate for another time. Lets all go RVing, spend our Social Security, and help the economy recover - smile.

[Linda Bohr]

Originally Posted by roblaura

This is my last comment on this thread. Medicare does use up a lot of tax dollars, and Social Security income from taxes is less than what is being paid out because of the large cohort of retired 'Boomers.' However, Social Security could be easily fixed. Just remove the cap on earnings for FICA, which would have no impact on 80% - 90% of US tax payers. Also, change the formula for COLA increases to one that is a little less generous (Don't yell - I know - the current increases are small). Medicare exists because in 1965 for-profit insurance companies refused to issue affordable individual insurance policies to persons over 65. Healthcare is too costly (I was a healthcare executive); mostly because there is little price competition among providers, and insurance companies make administrative costs the highest in the world. However, we could easily drop the cost of prescription drugs by simply letting Medicare directly negotiate prices. But unfortunately 'Big Pharma' has enough political clout to keep this from happening. Lastly, consider that about 70% of the US economy is domestic purchase of goods and services. The other 30% is the export of goods and services. Thus, when the government receives tax dollars and gives them back to individuals through various programs such as Medicare, Medicaid, Social Security, and the Earned Income Tax Credit, it is promoting the economy by giving residents money to spend on goods and services in the private sector. The only problem is when the government spends and gives back much more that it receives, but that is a debate for another time. Lets all go RVing, spend our Social Security, and help the economy recover - smile.

-----------------------------------
Social Security was supposed to be deposited into an interest bearing account beginning in the year it started. Only when LBJ was the first to "borrow" from the "locked box" was it robbed. At least, that was the first time.
Government has been replacing the money it steals with worthless bonds. I guess I didn't make enough, but Medicare never amounted to that much out of my paycheck. I agree the payouts are more than most people could ever hope to pay in because of the number of older people but also the people who are on disability. The only ones I begrudge are the ones who have never paid in a dime. But the costs of medical bills are extremely high. I think everyone is getting a cut of the hog somewhere along the way. Some are getting the loins and some are getting the belly fat, but they get a cut either way. I wouldn't have minded paying in more to Medicare but I, like millions of others, accepted whatever was taken out.

[Indy Glenn]

Originally Posted by R.Wold

By way of disclaimer, I get that every generation has complained of “kids these days”. And so many of these complaints are/were no different from those of their parents and their grand parents.

We have been helping with college costs (said favored grand daughter graduated HS early and is already in her first semester at a JC), and have talked about establishing a foundation that will provide for similar expenses in the future for the younger GKs on our passing. How else could she think anything in our will could help her make financial decisions now?

Anyway to finally get to the point promised in the title, yes things have changed, and kids these days are different. This isn’t just a re-hash of the never ending generation gap. I would never (NEVER!) had asked a grand parent what was in their will and what I had to do or not do to qualify for said inheritance, for any reason, not to mention so I could make some early decisions about whether or not to continue with higher education.

Well apparently I caused her a little grief when I explained “Live Rich, Die Broke” and told her my last check would bounce. I guess that wasn’t exactly kind, but everything else I told her was the best advice I could give. Hopefully some of it will take.

Rant off, we will now return to our regular programming.

Cheers!

PS: Yes I feel a bit better now. Didn’t know who else to share this with - certainly not immediate family, and who better but a mass anonymous audience of members of my generation.

I am 69 years old......and grew up poor. Now - - I didn't know we were poor but we didn't have things many people take for granted such as a car, vacations, a house. We lived in an apartment, my parents were the working poor, and we were just as happy as a pig in s_it.

Through the responsibilities of the day when I was 18, I ended up in the Army. Although I have a BS degree obtained later in life, the Army was my real college.

I ended up spending 30 years in the Army - what a great time. (...and fun!)

The Army and military as a whole, is the most undemocratic society in America. You did what you are told or got smacked, along with verbal abuse and extra duty.

As a long time alumni of the service, I get invited back to alumni events and get to meet some of today's Army leaders. One of the biggest complaints these leaders speak of is when orders are given, the "young" troops ask "Why".

Perhaps this is your grand daughters way of asking why?

Now, as you mentioned, we are a, "...mass anonymous audience of members of my generation" and I was with you all the way till the helping with college part and then the part about a "Foundation". Hmmm - - the only time I think about a Foundation is when I watch all the "Foundations" who make PBS shows possible.

Where am I going with this? Embrace your grand daughter - she is a lot smarter than we were when we were 18 and she is getting monetary help currently with the possibility of a "Foundation" in the future.

So my question is this, as an outsider looking in. "Why wouldn't she ask?"

I agree with you when you say, "When "we" were here age", we would not ask our grand parents about a Will, farthest thing from my mind back then. And back then, to me a foundation is something our apartment house sat on...

Things are different today, and sometimes we can't blame the kids.

Same goes for my Army colleagues - I could never be in uniform today, I would end up in the stockade for physical abuse, verbal abuse, psychological abuse, etc. A totally different world......glad I'm not there .The world as a whole has changed.....

Go hug those grand kids - be the grand parent and teach them about money, self sufficiency, and the importance of a post HS education. Notice I didn't say college. And I guess "The ones with the most toy's at the end wins" does not work today as it may have when we were coming up......LOL

Good luck, God bless.....

g

[C5c5]

Originally Posted by 5274775

...Medicare does use up a lot of tax dollars...

Just to make sure accurate info is presented, Here is the breakdown of how federal tax dollars are spent.




Of the mandatory spending, Medicare is 28% of mandatory pie.

That is ALOT of tax dollars. It is close to the amount that is spent for National Defense (which is 48% of the Discretionary spending pie). Social Insecurity is the only one that has more tax dollars spent - 39% of the Mandatory spending pie.

Knowing the real numbers is always good.

https://www.daveramsey.com/blog/wher...r-tax-money-go

[R.Wold]

Originally Posted by Indy Glenn

I am 69 years old......and grew up poor. Now - - I didn't know we were poor but we didn't have things many people take for granted such as a car, vacations, a house. We lived in an apartment, my parents were the working poor, and we were just as happy as a pig in s_it.

Through the responsibilities of the day when I was 18, I ended up in the Army. Although I have a BS degree obtained later in life, the Army was my real college.

I ended up spending 30 years in the Army - what a great time. (...and fun!)

The Army and military as a whole, is the most undemocratic society in America. You did what you are told or got smacked, along with verbal abuse and extra duty.

As a long time alumni of the service, I get invited back to alumni events and get to meet some of today's Army leaders. One of the biggest complaints these leaders speak of is when orders are given, the "young" troops ask "Why".

Perhaps this is your grand daughters way of asking why?

Now, as you mentioned, we are a, "...mass anonymous audience of members of my generation" and I was with you all the way till the helping with college part and then the part about a "Foundation". Hmmm - - the only time I think about a Foundation is when I watch all the "Foundations" who make PBS shows possible.

Where am I going with this? Embrace your grand daughter - she is a lot smarter than we were when we were 18 and she is getting monetary help currently with the possibility of a "Foundation" in the future.

So my question is this, as an outsider looking in. "Why wouldn't she ask?"

I agree with you when you say, "When "we" were here age", we would not ask our grand parents about a Will, farthest thing from my mind back then. And back then, to me a foundation is something our apartment house sat on...

Things are different today, and sometimes we can't blame the kids.

Same goes for my Army colleagues - I could never be in uniform today, I would end up in the stockade for physical abuse, verbal abuse, psychological abuse, etc. A totally different world......glad I'm not there .The world as a whole has changed.....

Go hug those grand kids - be the grand parent and teach them about money, self sufficiency, and the importance of a post HS education. Notice I didn't say college. And I guess "The ones with the most toy's at the end wins" does not work today as it may have when we were coming up......LOL

Good luck, God bless.....

g

This is good stuff - thanks. Brings back memories. When I was a kid, you ate fast if you wanted seconds! I mowed lawns for pocket change and got new customers by mowing their lawns free a few times til they decided they needed me. When I turned 16 I still had my lawn business, a paper route and took a dish washing job. I still had all three when I got out of HS and then went straight to the Fire Service. I respected it and it treated me well, but by the time I was on my way out, leaders were being investigated for hurting the snowflake’s feelings. Orders and policies were becoming a “hostile work environment”. Times change.

Anyway the reason I’m replying to your post is that you make a very good point: “Why wouldn’t she ask?”. From her perspective I guess it’s perfectly normal. “Hey Grand Pappy, how much are you leaving me in your will and what do I have to do to get it?”

It hung me up but at this point it all seems rather amusing. And of course she was over it the next day. I’m the one that spent some time ruminating on the thing.

Lastly the foundation idea is this. I made a little money in real estate on my days off rebuilding beat up duplexes, condos, four plexus, and low end houses for about 20 years (buy the worst house on a good street with someone else’s money and go to work). I did alright and have decided that what I’m leaving behind is too much to just leave to the kids to split up and spend. I have a feeling it might do more harm than good. So I’m working on an idea to put all my assets into a fund that would provide for tuition from the interest and maybe even grow the principal a little over time. Not sure how it will work, but I think that’s what started all this. Took me a while to figure it all out and your post really put it in to perspective.

Thanks.

[R.Wold]

And in case you’re wondering, all my real estate improvement work occurred long before all that “Flip this House” nonsense polluted people’s minds and caused all manner of tumult and turmoil in both peoples finances and the real estate market. Just sayin....

[Indy Glenn]

Originally Posted by R.Wold

This is good stuff - thanks. Brings back memories. When I was a kid, you ate fast if you wanted seconds! I mowed lawns for pocket change and got new customers by mowing their lawns free a few times til they decided they needed me. When I turned 16 I still had my lawn business, a paper route and took a dish washing job. I still had all three when I got out of HS and then went straight to the Fire Service. I respected it and it treated me well, but by the time I was on my way out, leaders were being investigated for hurting the snowflake’s feelings. Orders and policies were becoming a “hostile work environment”. Times change.

Anyway the reason I’m replying to your post is that you make a very good point: “Why wouldn’t she ask?”. From her perspective I guess it’s perfectly normal. “Hey Grand Pappy, how much are you leaving me in your will and what do I have to do to get it?”

It hung me up but at this point it all seems rather amusing. And of course she was over it the next day. I’m the one that spent some time ruminating on the thing.

Lastly the foundation idea is this. I made a little money in real estate on my days off rebuilding beat up duplexes, condos, four plexus, and low end houses for about 20 years (buy the worst house on a good street with someone else’s money and go to work). I did alright and have decided that what I’m leaving behind is too much to just leave to the kids to split up and spend. I have a feeling it might do more harm than good. So I’m working on an idea to put all my assets into a fund that would provide for tuition from the interest and maybe even grow the principal a little over time. Not sure how it will work, but I think that’s what started all this. Took me a while to figure it all out and your post really put it in to perspective.

Thanks.

In my world - we say "You're squared away - now go make me proud".

You've done that for yourself!!!

We come from that generation where you worked for what you have.....and you worked hard.

I think your idea of a Foundation for the Grand kids is marvelous - make sure any inheritance is used to help them create a better life than you had....

Have a great day and weekend.

g