An item of significance will be the amount of people paying into Social Security along with the amount of funds collected. Another words, there has to be enough money to cover retirement benefits with a sufficient reserve for future retirement liabilities. An accounting matter for sure. Problems come up when funds are removed for other non-retirement purposes such as Social Security Disability which really should have it's own funding sources and other uses of funds unrelated to retirement entitlements. Somewhere I was under the understanding that Social Security was part of the Trust/Agency Funds which from a legal accounting perspective equals a permanent restriction on use and all uses have to be related to the purpose of the fund (Governmental Account speak following Federal & Governmental Accounting Standards Boards requirements). For those not of an accounting background, it means Congress should not be tampering with the funds only to ensure sufficient cash resources for future retirees!

Wanderer, do you think it will be available for the younger generation? I have heard that for a long time as well, but at some point it has to burst right?

A quick note on Social Security ... I have been hearing about the demise of Social Security for over fifty years. The thing to watch is Congress trying to use the funds for other purposes. Also, the withholding amount could be raised without affecting very many individuals yet raising large amounts of money. Oh ... I better run for the side lines.

Joker wrote: I sure hope that I make it to full retirement. I am planning on working to at least 67. How I am going to pay for things is another story. I am getting to the end of my life and don't really have enough in savings to make my retirement social security an above average wage. Still looking for a way to bolster it though.

I will be lucky if I get social security...I am certainty not counting on it.

I sure hope that I make it to full retirement. I am planning on working to at least 67. How I am going to pay for things is another story. I am getting to the end of my life and don't really have enough in savings to make my retirement social security an above average wage. Still looking for a way to bolster it though.

Yes you make a good point. Did not see such a reference in the article but, as the younger people age with the already acquired technological skills it would seem to change what was written. Glad you pointed this out as I sure did not catch it.

Wanderer wrote: The older worker tends to not be as quick to learn the latest and greatest modern happenings and tend toward the higher end of the pay schedule so employers are looking for the biggest return on their dollar.

Aren't we nearing the end of this phenomenon though? As the baby boomers age out, the remaining workers grew up with technology as an everyday part of life. Most of us came of age with computers, tablets, social media, smartphones, and other gadgets. And, it's not like we'll lose the adaptation skill since big tech cranks out updates and innovative products every couple of years to keep consumers hooked.

As I read just a couple of days ago (shocked actually). The older worker tends to not be as quick to learn the latest and greatest modern happenings and tend toward the higher end of the pay schedule so employers are looking for the biggest return on their dollar. Today, that trend is moving rapidly toward the younger more in sync with the times worker that is inexpensive to hire. Another poster said much of this and truth be told I was surprised ... assumed the "experienced" worker would be the answer but the world keeps changing ever faster and the younger people are brought up in this new faster world and flow with it better (read this and again I was taken back but maybe I shouldn't be as the younger person learns faster too - according to what I read).

I agree with you Cents. Back when I started working, companies valued their older, more experienced employees, but with the advancements in technology came different goals. Now they are trying to keep the most up-to-date employees. Continuing education is extremely important in your older years to stay on top of the most current technology if you want to keep your job.

I've never had a job that demanded much physically. I guess the closest I've come was working fast food during school. I'm sure it's tough to keep going as you get older when you have a strenuous job. But, in my field, I'm more worried about being pushed out due to aging than having my body no longer on board with the demands. Generally speaking, the longer you work the more experience you have and the more you make. Companies seem to push those folks out first. I hope it doesn't happen to me because people in my family seem to go downhill quickly once they retire. I don't plan on retiring at all.

I figure that since I don't plan to fully retire until I'm 70, I will never see my social security or retirement. My father died when he was 64 and never got to draw his social security but mother got some benefit from it. I really don't see how I will ever make it!

Lexie wrote:

FrugalFran wrote:

Goldbug wrote:

Wanderer wrote: As a follow on people who think they can work forever ... they do not realize what happens to the physical body and mind! My bet is on the fact that when most people reach or get close to retirement they will find they cannot perform at the same level and that employers really don't want old timers around (viewed as to slow, out of touch and too expensive).

Who said anything about an employer? I intend to keep working, but I intend to be working for myself. That way I am the employer, and I can forgive myself for slowing down or hire help if I need it. My grandfather was building and selling garden furniture into his 90's and loving every minute of it, so I might go the same way.

My husband often says that if he stops working completely, that's when he'll die. My dad always said the same thing and he's going to be 79 soon and he still works at the same career he's had his whole life. Granted, it isn't physically challenging, but I believe it keeps his mind sharp. For me, I'd like to have a balance.

Being in education for many years, I once knew a principal that retired after 35 years of service. Within 3 months he was gone. The job is all some people have and it's all that keeps them going. Me? I'm enjoying my retirement to the fullest!!! Love it!!

Very sad to hear and I hope I don't turn out like that. My father was the same way.

FrugalFran wrote:

Goldbug wrote:

Wanderer wrote: As a follow on people who think they can work forever ... they do not realize what happens to the physical body and mind! My bet is on the fact that when most people reach or get close to retirement they will find they cannot perform at the same level and that employers really don't want old timers around (viewed as to slow, out of touch and too expensive).

Who said anything about an employer? I intend to keep working, but I intend to be working for myself. That way I am the employer, and I can forgive myself for slowing down or hire help if I need it. My grandfather was building and selling garden furniture into his 90's and loving every minute of it, so I might go the same way.

My husband often says that if he stops working completely, that's when he'll die. My dad always said the same thing and he's going to be 79 soon and he still works at the same career he's had his whole life. Granted, it isn't physically challenging, but I believe it keeps his mind sharp. For me, I'd like to have a balance.

Being in education for many years, I once knew a principal that retired after 35 years of service. Within 3 months he was gone. The job is all some people have and it's all that keeps them going. Me? I'm enjoying my retirement to the fullest!!! Love it!!

Goldbug wrote:

Wanderer wrote: As a follow on people who think they can work forever ... they do not realize what happens to the physical body and mind! My bet is on the fact that when most people reach or get close to retirement they will find they cannot perform at the same level and that employers really don't want old timers around (viewed as to slow, out of touch and too expensive).

Who said anything about an employer? I intend to keep working, but I intend to be working for myself. That way I am the employer, and I can forgive myself for slowing down or hire help if I need it. My grandfather was building and selling garden furniture into his 90's and loving every minute of it, so I might go the same way.

My husband often says that if he stops working completely, that's when he'll die. My dad always said the same thing and he's going to be 79 soon and he still works at the same career he's had his whole life. Granted, it isn't physically challenging, but I believe it keeps his mind sharp. For me, I'd like to have a balance.

I understand Wanderer. I miss the children and the camaraderie with my colleagues. Having been with 2 school systems you know the politics involved. We went through a couple of years where the assistant superintendent was in bed with a software company and all the $$$$$ were spent on new computer programs. Did he forget that we didn't have the proper equipment to run the software????? I'm talking 23 elementary schools here. How do these people get away with such things?