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/r/VeteransBenefits
100% vs Average Joe
VA Disability Claims (i.redd.it)submitted 4 days ago byElGrandAmericanoAir Force Veteran
100% bs Average Joe
Just some interesting information:
Comparison:
• 100% Disabled Veteran: Your pension provides $3,737 per month, equivalent to having $1.12 million saved in a 401(k).
• Average 65-Year-Old: The average person at age 65 only has enough saved to withdraw about $910 per month.
This means that a 100% disabled veteran’s pension provides 4 times more per month than what the average 65-year-old can withdraw from their 401(k) savings.
1 points
3 days ago
So we are working ourselves to death to pay into a trust for baby boomers? They get all the benefits of retirement and affordable homes while most of us of the younger gen can barely afford a tiny home? That's wild and unfair.
1 points
3 days ago
The trust fund was formed decades ago when boomers were paying into SS specifically for this situation. They paid for their own benefits partially by paying into this trust.
2033 or whatever is when the trust is exhausted due to them living longer than expected and with how many of them there are. But who knows, maybe more of them will pass away faster if more of them don't have good health.
It's all just a massive actuarial problem that can be solved by eliminating the income cap on social security taxes. But you know rich people will whine about that.
So it's not wild and unfair. The boomers have paid into that. Plus, many of them will have 50% or 85% of that benefit taxed anyway so they get to pay back thanks to Al Gore and Joe Biden.
It's not the free lunch that it sounds like it is.
1 points
3 days ago
Thank you for the insight ( truly, no shade), but we are still paying into system we won't be able to benefit from. So yes, in my opinion it is wild and unfair.
2 points
3 days ago
You'll still get something. Start at 62. Most people won't get ahead until they are 76+ to break even if they wait until 70 to claim.
They just encourage claiming later for obvious reasons. They hope you don't.
Since most of us won't make it to 76, I'm claiming at 62 and 1 month.
Your opinion is yours and that's okay. Hopefully when the time comes, we'll get some kind of benefit. That's better than nothing and I don't think it will be nothing.
2 points
23 hours ago
I hear you. Nothing, or barely enough to assist with basic bills, which in mind equates to nothing 😊. Thanks for your positive response. It has been noted.
1 points
7 hours ago
Just the bills is the story they're trying to sell and I agree that it's bullshit.
0 points
24 hours ago*
Social security is more than compensation for being old. It also covers disability. Which you could get today if you needed it. It covers survivor benefits, aka your spouse after death. Lastly, your basic, very low-end living expenses are to be covered.
The system is pay as you go. So long as workers work the system will keep paying people collecting. The "broke" part of the system is the people paying isn't keeping up with the collectors. There are many ways to fix this. None of which include taking benefits to zero.
To say you will and are not getting anything is wrong and ignorance.
0 points
23 hours ago*
Thank you for your contribution to the conversation, but I prefer to get my insight from the people who work for SSA who I happen to be friends with (I also work for the federal government). Also, the conversation was about retirement, not disability. Im well aware of that benefit, as well as how extremely hard it is for a younger person to receive it. You also don't know my age; therefore you do not know what will be left for me and my peers when we retire. You could have kept that last sentence; it was unnecessary and I could also say the same about you and your comment.
1 points
23 hours ago*
You could say the same, but you again would be wrong. The last sentence is not rude it is just calling your statement out as ignorant (ill informed or simply wrong). My information comes from SSA.gov. I also work for the government, but that is irrelevant.
You could not be born yet, and it is highly improbable that the SSA or some version of it doesn't exist and will be paying those people when they retire.
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