I hope this link works: https://www.blogger.com/comment.g?blogID=18675105&postID=4351804234733444315
it's the comment section for a question posed by housepanic.blogspot.com on May 26, 2008
it's a little over halfway down in the comments, I 'm pasting in the time and date if you want to find the exact post:
it's the comment section for a question posed by housepanic.blogspot.com on May 26, 2008
HP'ers who are retired or over the age of 65 - what advice can you offer your fellow HP'ers?
oops, there's the link. HP'ers are Housing Panic-ers, I presume. The entire comments section is a great read whether I agreed with the comments or not. An anonymous commenter wrote the most lucid thing yet, which is what I think is one of the keys to the money issues that people like my mom and older sisters (and many others) refuse to see.it's a little over halfway down in the comments, I 'm pasting in the time and date if you want to find the exact post:
None of the 65 and older crowd has mentioned a major factor in the strategy that they used:
Make sure the politicians put into place a program to extract money from the next generations (i.e. Social Security).
Make sure the politicians don't cut or get rid of Social Security.
Make sure that the politicians only tax 4% of wages, or less, to finance Social Security while working (this leaves 4% to save while "living within your means")
Make sure wages keep up with inflation (and that inflation is accurately reported).
Once retired, allow the politicians to take more than 8% of the wages of the next generations (this gives the added bonus of giving a pretext to look down on them for not saving the 4% per year that you saved) to continue paying for the Social Security that you made sure would be in place at their expense.
May 27, 2008 10:39 PM