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The Debates
By coolgranny in The Paradox of Long Lives
October 8, 2008

I read somewhere that right now and for a few more years, social security is solvent. I remember thinking that my kids will definitely be affected, but I will be dead and gone. I do wish I could remember the source.

I don't qualify for the benefits anyway because of the wonderful teacher retirement law and my lack of knowledge the year I retired. I had already prepared for my last year to work, so I was covered, but that is besides the point. Had I known, I would have cashed out and put the money in another kind of annuity, and then I could qualify for my hub's benefits. All you teachers out there in Texas, remember this. If you are married to someone outside of public education, do yourself a favor and reinvest your retirement. Unless the laws are changed or you were one of the lucky ones who retired during the window offered several years ago, you could find yourself quite frustrated over the SS laws and TRS. In the meantime, cover yourself with whatever 403b is offered as long as you teach.

I read some of the blogs about SS this week and I like Ernie's solution and surprise, I actually understood it. The only flaw I saw was how to deal with those who never pay in SS tax. So many people get benefits with SSI who really are not qualified to do so. There are people who do qualify for SSI and I am thankful that their needs can be met. However, abuse is quite common.

I know that SS and SSI are two separate entities, but benefits are benefits. I also agree that anyone could have more benefits if forced to invest the 15% each and every year before retirement. I advised my boys to invest in 401Ks from the very first day of career employment. As I watch the market, I hope they aren't too mad at me. My mom is a true believer in bonds and cash assets conservatively invested. I wish I had listened to her and balanced a bit more.

I was happy to hear that Obama would lower taxes on the under 200K group. I hope the McCain camp was listening. I remembered paying 19,000 for my first brick home with basically the same construction as this patio home we now lease. If we were to buy it tomorrow (which we won't) the pricetag would be 179,000. In Seattle the price would be 250,000...same house just a different neighborhood.  I remember reading in the 70's that the median house cost would be over 125,000 in the year 2000. I actually remember the source-Reader's Digest. I never would have believed that the middle income level could be viewed as less than 200,000 a year. Darn, I was just getting comfortable with not working again.

Folks, I don't pretend to know the answers. All I can offer is prayer for this great nation. The money is God's, and He can do whatever He wants with it. Hang in there. Both candidates said they would support Israel, and that is key to future blessings for America. Isreal must be allowed to honor God's covenant to Abraham. Whatever happens in the election this year, America must stay focused on its allegiance to Israel. God will bless us if we do so.