Replying to Avatar Ferret

Is USA social security like “old age pension”? After say age 65 they get monthly set amount of money, That’s what we call it here.

Or is social security, aka wellfare money for ppl that can’t or choose not to work?
72
nobody 2y ago

Yes. The age is now 67.

The payment is a pittance, and almost nobody can live off it.

There have been several attempts by conservatives over the years to privatize social security, because it consistently underperforms private retirement investments.

At this point there is no money kept for social security. The money collected by people working today is directly transferred to retirees.

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Ferret 2y ago

K, ya, same here too. Govt Pension is very little here, not enough to live comfortably

72
nobody 2y ago

My grandmother receives about $900 a month. Not even enough to pay household bills once you include utilities. She’d be homeless.

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Ferret 2y ago

Sad. And likely to become worse with decade or two

72
nobody 2y ago

Yes. With inflation, a massive national debt, and the dollar’s reserve status being under threat, along with looming war with Russia and possibly China - I am not overly optimistic about the US economy.