I wonder what will happen to you if your money run out when you are over 80s?
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Bebonang
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This is a very good question. The only solution is go on welfare, if 80 years old people don't have SSDI or SSI or Social Insurance. Here we have Old Age Pension so that we don't run out of money. Beside, I think we will never run out of money in USA with the SSDI or SSI . Not even in Canada for Social Insurance and Old Age Pension, no way. Unless you are worry about what President Obama has been doing to get millions or billions of dollars to get programs working, but find later that we get bankrupt. That is a frightening thought. I am not going to worry about getting broke, but I can understand your feeling that the prices has been going up almost pretty fast and the budget are hard to keep up with bills and loans and everything. 
Bebonang
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This make a lot of sense to me. I am only 63 going to be 64 this fall. I don't like to think about the future of having a hard time with my budget. With the price going up and making it hard for our budget, yeah we might need to go work part time to help pay the bills and loans. That is terrible when we have to work some more time and not enjoy retirement.
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Hubby and I will each have SS retirement and military retirement when we are 80 years old. However, if the US government runs out of money we will have nothing; our four pensions will be gone.
We will probably have to continue working as long as we are physically able.
We will probably have to continue working as long as we are physically able.
Babyblue
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Sad to say. The SS tax that we pay now, is used for the people that are on Social Security now.
I hope they will be able to keep it up when my time comes. I work and plan to keep working for as long I am able to. Hate to see that I work all my life for nothing. Hoping it will be there for me when I decide to retire.
dreamsfloatjoe
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I dunno, I'll cross that bridge when it collapses. I'd probably marry a rich young lady! 
I don't think that it is fair for seniors to have to worry about finances and going out to work at such an age. I think that seniors deserve to enjoy a happy and care-free retirement.
If my parents ever have that problem as they get older, I will for sure help them out. Luckily they don't have anything to worry about because my dad has a secure pension as he works at a hospital... so his pay comes from the government of Ontario. And my parents will also get the government-funded Old Age pension that Bebonang mentioned when he is 65.
If my parents ever have that problem as they get older, I will for sure help them out. Luckily they don't have anything to worry about because my dad has a secure pension as he works at a hospital... so his pay comes from the government of Ontario. And my parents will also get the government-funded Old Age pension that Bebonang mentioned when he is 65.
pek1
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I do not believe that Social Security will be there when I'm old. SS was not designed for being the only income for seniors, just a supplement. So, I'm not worried about if there will be money because I will be working as long as I can physically and mentally handle it and do the job. Which means, in short, that my last day of work will be the day before I die. 
As for my saved money for my kids -- I don't have any -- to date. Why do I want to have my money or other assets given to my family? Sell it, pawn it off -- who really cares?
As for my saved money for my kids -- I don't have any -- to date. Why do I want to have my money or other assets given to my family? Sell it, pawn it off -- who really cares?
This is a very good question. The only solution is go on welfare, if 80 years old people don't have SSDI or SSI or Social Insurance. Here we have Old Age Pension so that we don't run out of money. Beside, I think we will never run out of money in USA with the SSDI or SSI . Not even in Canada for Social Insurance and Old Age Pension, no way. Unless you are worry about what President Obama has been doing to get millions or billions of dollars to get programs working, but find later that we get bankrupt. That is a frightening thought. I am not going to worry about getting broke, but I can understand your feeling that the prices has been going up almost pretty fast and the budget are hard to keep up with bills and loans and everything.
Yea, it is tough to catch up with the prices going up fast
I hope they will have good health to continue to work.
This make a lot of sense to me. I am only 63 going to be 64 this fall. I don't like to think about the future of having a hard time with my budget. With the price going up and making it hard for our budget, yeah we might need to go work part time to help pay the bills and loans. That is terrible when we have to work some more time and not enjoy retirement.
But it will be harder for going back to work cuz no one want to hire too old people?
Ouch, I hope you will get through this!
I hope you will have good health to continue if SS tax wont cover for you in future.
It isn't free to live in senior community or nursing home.
That is my first thought so that's why I made this thread to make double check if there is another way to survive.
If you start at 30ish old, it will not let you have enough money for retirement.
I'll show you the link and you can calculate yourself to see how much you probably will have.
HowStuffWorks "How 401(k) Plans Work"