Of all generational cohorts, older millennials are most likely to generate enough income to retire comfortably, according to the latest Vanguard Retirement Readiness report.
Specifically, millennials aged 37-41 have the greatest chance of landing a comfortable retirement.
I’m so sick of this complacency with the idea of paying into social security your whole life to fund the boomer retirees just to have it taken from us as one final fuck you. The vocalized consensus among everyone needs to be its not getting taken from us, if anything it will be fixed and made more robust and any politician that acts to remove it from us will have their heads removed from their bodies.
Boomers believe social security would be gone by the time they retire. It’s been a common conspiracy thing for decades.
All it takes is one far right politician to take all that social security money for tax breaks for the rich, write a massive IOU, create rules regarding how far it has to be funded, and then declare social security bankruptcy. It’s what is happening to the USPS.
It’s literally a Ponzi scheme that the government just declared it to not be one. It must either explode or have ever growing generations funding it.
Wealth redistribution isn’t a ponzi scheme. Even if we do nothing to “fix” social security it will keep writing checks.
It’s an unfunded mandate. It can’t if the fund has no money. Touch nothing and the program runs out of money to pay the drawing population. Basic math.
Something as to shift or it will in fact not be able to pay out for all members drawing in it given enough time.
