Posted by Pair-a-dice farm on April 29, 2015 at 03:27:18 from (162.104.122.227):
In Reply to: Social Security posted by MarkB_MI on April 29, 2015 at 01:15:38:
MarkB_MI said: (quoted from post at 04:15:38 04/29/15) You don't say what your REAL question is. If it is "can I expect to keep my current standard of living with just my SS check?", the answer is probably "no".
I guess I don't know what "less than expected" means, but I suspect it really means "less than I would like". Farmers, like most self-employed businessmen, don't generally pay a lot of money into SS and therefore don't get very big benefit checks.
Just curious, where did you get that information? If you are self employed you pay 15.3% of your net income into SS and medicare. You also pay about half of the SS and medicare for all of your employees.
As others has said SS was never meant to be retirement plan. 65 was set up as the retirement age because that was the average lifespan for men at that time.
This post was edited by Pair-a-dice farm at 03:32:46 04/29/15.
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