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BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...

 
Anonymous Coward
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11/13/2015 09:14 AM
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BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
This new budget bill will significantly impact the retirement plans of many individuals nearing or in retirement. Beginning in 2016, the bill would stop the benefits of spouses, divorced spouses or children on the work record of a spouse, ex-spouse or parent who has suspended his or her Social Security benefit with the plan of restarting their benefit later. This strategy is often referred to as the “file and suspend” strategy. However, these recent changes eliminate the said strategy effective May 2016 for all future retirees

If you have not planned to use “file and suspend” or implemented this Social Security strategy, you might just be saying “so what?” But as financial planners who pride themselves in helping clients optimize their retirement income, congress has just undone tens of thousands of optimized retirement plans across this nation, especially for those who do not reach full retirement age by May of 2016. They will not be grandfathered in and are directly affected in an adverse way by these changes. What these Social Security changes effectively do is to possibly cause couples to file for their own benefits earlier than they would have under the old rules in order to meet their retirement spending needs. For many, this loss can be a significant portion of their total retirement income.


[link to annuityguys.org]

Boehner's final "FUCK YOU" to the American people.

flipflipflip
Anonymous Coward (OP)
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11/13/2015 09:25 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
In other words, the people who have been responsible and who have actively used financial planners to help them plan for a certain level of retirement income have just had the rug pulled out from under them. Any retirement planner who had been planning on using the popular "file and suspend" strategy are part of their client's retirement program has just been made to look like a fool and has wasted countless hours over the past years or decades calculating the "file and suspend" projections into their client's retirement forecasts. Hundreds of thousands of hours of work by financial planners all across the country out the window at the stroke of a pen.

lala
Anonymous Coward (OP)
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11/13/2015 09:29 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Millions of Americans just lost a key Social Security strategy

Nov 7, 2015

Congress has agreed to, and the president is expected to sign into law, a bill that shuts down two popular Social Security claiming tactics: the-file-and-suspend and the restricted-application Social Security strategies. And now, millions of Americans who were planning to use these strategies to boost their household’s lifetime benefits must figure out what to do instead.

[link to www.marketwatch.com]

jerkit
Cheyenne

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11/13/2015 09:35 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
When those who are in their 40's now retire, two working chumps will be kicking into this ponzi scheme for every beneficiary.

How much money do you think two average people can be taxed to support one person?

Better find another method of funding your retirement. You'd be lucky to get $300 per month in 2015 dollars when you retire.
100% Natural Unvaxxed Human Being
Anonymous Coward (OP)
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11/13/2015 09:39 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
When those who are in their 40's now retire, two working chumps will be kicking into this ponzi scheme for every beneficiary.

How much money do you think two average people can be taxed to support one person?

Better find another method of funding your retirement. You'd be lucky to get $300 per month in 2015 dollars when you retire.
 Quoting: Cheyenne


Plus, the middle class will be so tapped out by then, they will never make it. Perennial 0% interest rates make for no way to build wealth through saving, forces everything into the stock market for the enrichment of the insiders. Whatever money the do have will be worth chickenshit and their homes won't be worth anything because no one will be able to afford to buy them.
Anonymous Coward (OP)
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11/13/2015 09:41 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
A pine?
hf
Cheyenne

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11/13/2015 09:44 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Looks pinned to me. Imagine that.
100% Natural Unvaxxed Human Being
Anonymous Coward (OP)
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11/13/2015 09:45 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Also, not a word about this was mentioned by the MSM during the entire time the spending package was making front page news. The corruption of the government / media complex is beyond the pale.
Cheyenne

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11/13/2015 09:49 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Also, not a word about this was mentioned by the MSM during the entire time the spending package was making front page news. The corruption of the government / media complex is beyond the pale.
 Quoting: Anonymous Coward 70663983


The sad thing is most of these congress-critters are in on it. They know it is all a sham, all of it. Very few speak up against it and back that up with action.

It's like they are playing a sick joke on the average American.
100% Natural Unvaxxed Human Being
ITZCOMING

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11/13/2015 09:59 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Bump for later depressing reading.
Cheyenne

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11/13/2015 10:22 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
A bump for replanning retirement without SS...
100% Natural Unvaxxed Human Being
Anonymous Coward
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11/13/2015 10:39 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
When those who are in their 40's now retire, two working chumps will be kicking into this ponzi scheme for every beneficiary.

How much money do you think two average people can be taxed to support one person?

Better find another method of funding your retirement. You'd be lucky to get $300 per month in 2015 dollars when you retire.
 Quoting: Cheyenne


That's a lie that you bought into to kill your parents.

1)A trust fund was by Congress just about when boomers started working full time and heavy overtime.

2) that fund holds trillions of US debt

3) the trust fund should be converted (greenbacked) to from treasuries (debt) to credit

4) it should be slowly metered out to become the equivalent of a sovereign fund, Benefiting from income earning assets.

5) stop being a douchebag
Anonymous Coward
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11/13/2015 10:39 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
That's because Congress Critters' retirement money is assured from big Government!
Ms. Superduper

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11/13/2015 10:41 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
This new budget bill will significantly impact the retirement plans of many individuals nearing or in retirement. Beginning in 2016, the bill would stop the benefits of spouses, divorced spouses or children on the work record of a spouse, ex-spouse or parent who has suspended his or her Social Security benefit with the plan of restarting their benefit later. This strategy is often referred to as the “file and suspend” strategy. However, these recent changes eliminate the said strategy effective May 2016 for all future retirees

If you have not planned to use “file and suspend” or implemented this Social Security strategy, you might just be saying “so what?” But as financial planners who pride themselves in helping clients optimize their retirement income, congress has just undone tens of thousands of optimized retirement plans across this nation, especially for those who do not reach full retirement age by May of 2016. They will not be grandfathered in and are directly affected in an adverse way by these changes. What these Social Security changes effectively do is to possibly cause couples to file for their own benefits earlier than they would have under the old rules in order to meet their retirement spending needs. For many, this loss can be a significant portion of their total retirement income.


[link to annuityguys.org]

Boehner's final "FUCK YOU" to the American people.

flipflipflip
 Quoting: Anonymous Coward 70663983


Yep. No wonder he left.
Greater is He who is in me than he who is in the world.

Whatever feels good to your soul, do that.
Anonymous Coward
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11/13/2015 10:55 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
That's because Congress Critters' retirement money is assured from big Government!
 Quoting: Anonymous Coward 70619332


Its a six figure retirement with 100% paid for medical care, no Obamacare.
Engonoceras

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11/13/2015 11:02 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Obama-Boehner
Anonymous Coward (OP)
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11/13/2015 11:10 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
And to add dryness and chaffing to the rape, it appears that Mitch McConnell was responsible for seeing to it that SS recipients will receive no cost of living increase for 2016.


"The changes McConnell is reportedly demanding are not minor tweaks to government programs. According to CNN, he wants to reduce the annual cost of living adjustment to the Social Security payments that millions of Americans rely on each month"

[link to www.thefiscaltimes.com]
Anonymous Coward
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11/13/2015 11:15 AM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Lies, the democrats are for the little people, the media tells me so!!!

:roflmao:
Ms. Superduper

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11/13/2015 12:12 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Obama-Boehner
 Quoting: Engonoceras


OMG. How disturbing. hiding
Greater is He who is in me than he who is in the world.

Whatever feels good to your soul, do that.
Tree of Life

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11/13/2015 12:19 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
When those who are in their 40's now retire, two working chumps will be kicking into this ponzi scheme for every beneficiary.

How much money do you think two average people can be taxed to support one person?

Better find another method of funding your retirement. You'd be lucky to get $300 per month in 2015 dollars when you retire.
 Quoting: Cheyenne


...Nope.

I paid in over 300k in my working career...
I and others like me have had our money basically 'stolen' to pay for other peoples...????(God only knows what???).

I expect that money back...with interest. So do my cohorts, bub.

Deal with it....
"All you may know of heaven or hell is within your own self." - Edgar Cayce
Anonymous Coward
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Lithuania
11/13/2015 12:26 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
FDR and his Communistic Social Slave Security Scam,

"No One, Will Ever Pay More Than 1% Of Their Pay, To Social Security Insurance"
Ms. Superduper

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11/13/2015 12:30 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
When those who are in their 40's now retire, two working chumps will be kicking into this ponzi scheme for every beneficiary.

How much money do you think two average people can be taxed to support one person?

Better find another method of funding your retirement. You'd be lucky to get $300 per month in 2015 dollars when you retire.
 Quoting: Cheyenne


...Nope.

I paid in over 300k in my working career...
I and others like me have had our money basically 'stolen' to pay for other peoples...????(God only knows what???).

I expect that money back...with interest. So do my cohorts, bub.

Deal with it....
 Quoting: Tree of Life


This is actually, a great idea!
Greater is He who is in me than he who is in the world.

Whatever feels good to your soul, do that.
Ginzu

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Korea, Republic of
11/13/2015 12:54 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Here you go and it's laid out in layman's terms for easily understood.



[link to www.youtube.com (secure)]

Not only has Social Security been used by Government as their own private piggy bank(shove their debt into the people's retirement fund)... But THE FEDERAL RESERVE under-reporting TRUE INFLATION, has falsely reduced payments to the elderly and annual increases to all Social Security recipients.

There's a perfect example of big sociopath government at it's best.

Last Edited by Ginzu on 11/13/2015 12:55 PM
Ginzu aka Daegu DeeDee
pissed off citizen
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11/13/2015 01:12 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
NEW SS CHECKS



The Social Security check is now (or soon will be) referred to as a
*Federal Benefit
Payment*?


This puts all we older folks in the”Food Stamp/EBT card group.”




The government is now referring to our Social Security checks as a "Federal Benefit Payment."

This isn't a benefit.

It is our money paid out of our Earned income!

Not only did we all contribute to Social Security but our
Employers did too. It totaled 15% of our income before taxes.

If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.

If you calculate the future value of your monthly invest-ment in social Security ($375/month, including both you and your
employers contributions)
At a meager 1% interest rate compounded monthly, after 40 years of working You'd have more than $1.3+ million dollars saved!

This is your personal investment. Upon retirement, if you took out only 3% Per year, you'd receive $39,318 per year, or $3,277 per
month.

That's almost three times more than today's average Social Security benefit Of $1,230 per month, according to the Social Security Administration.


(Google it – it’s a
fact).

And your retirement fund would last more than 33 years (until you're 98 if You retire at age 65)! I can only imagine how much better most
Average-income people could live in retirement if our government had just Invested our money in low-risk interest-earning accounts. Instead,
the folks in Washington pulled off a bigger *Ponzi scheme* than Bernie Madoff ever did.

They took our money and used it elsewhere. They forgot (oh yes, they knew)
That it was OUR money they were taking. They didn't have a referendum to Ask us if we wanted to lend the money to them.

And they didn't pay Interest on the debt they assumed.

And recently they've told us that the Money won't support us for very much longer. (Isn't it funny that they NEVER say
this about welfare payments?)

But is it our fault they misused our investments? And now, to add insult To injury, they're calling it a *benefit*, as if we never worked to
earn Every penny of it.

Just because they borrowed the money doesn't mean that our investments were a charity!

Let's take a stand. We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government.

Find a way to keep Social Security and Medicare going for the sake of that 92% of our population who need it.

Then call it what it is: Our Earned Retirement Income.
Anonymous Coward
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11/13/2015 01:22 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Boner's a fuckin' traitor
old grandma

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11/13/2015 01:25 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Also, not a word about this was mentioned by the MSM during the entire time the spending package was making front page news. The corruption of the government / media complex is beyond the pale.
 Quoting: Anonymous Coward 70663983


The sad thing is most of these congress-critters are in on it. They know it is all a sham, all of it. Very few speak up against it and back that up with action.

It's like they are playing a sick joke on the average American.
 Quoting: Cheyenne


Yep, we are no more that livestock to them.
Anonymous Coward
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11/13/2015 01:27 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
and part B Medicare is going up 52%......
Anonymous Coward
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11/13/2015 01:39 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
When those who are in their 40's now retire, two working chumps will be kicking into this ponzi scheme for every beneficiary.

How much money do you think two average people can be taxed to support one person?

Better find another method of funding your retirement. You'd be lucky to get $300 per month in 2015 dollars when you retire.
 Quoting: Cheyenne


"The trouble with SOCIALISM,
is that sooner or later,
you run out of OTHER PEOPLE'S MONEY"
-Margaret Thatcher
Anonymous Coward
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11/13/2015 01:41 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
This is good news. "File and suspend" was just a way to game the system.
Anonymous Coward
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11/13/2015 02:13 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Typical government lies. You play the game by their rules and then they change those rules whenever they feel like it.

If this were a baseball game it would be like they were losing in the bottom of the 9th inning and change the rules to where they get 30 outs instead of 3 outs.
Anonymous Coward
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11/13/2015 02:17 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
The point is to get is dependent on them.

Then can tell us what to do.

Want your social security? Want your Medicare?

Then line up for the flu shot. No shot. No money.

Oh, and well take that DNA sample too. It's for your safety to protect you from terrorists.

It's coming. Just you watch





GLP