For most of my readers, retirement is not something that is foremost in your minds. You have many years ahead to save and plan for that, if you chose. More and more, I am looking to opt out of the retirement system. I know there will be those who think I have fallen off the rocking chair, I haven’t just yet. Let me explore my concept with you.
First of all, it was never an insurance policy of saving account I created with the federal government. Social Security was a way for the government to replace older workers and provide a basic income in exchange for them to retire. The money for the program comes from a tax imposed on all wages earned in the US. It is a social contract that says, I will take care of the seniors now, and in exchange, the young people will take care of me. No saving accounts of My Money in the federal government. No, if I retire, the fifth graders of our world would now be grown and have to give up part of their wages to pay for my SSI. So they would be paying into the government to pay for a check for me. SO, if I pay taxes to the Federal Government and they cut a check for an unemployed mother with three children, that is welfare. Would I not also be receiving “welfare” but it was called “SSI”? So, reason number 1, I do not want to have the kids of our world paying for me to sit at home doing nothing.
The average retirement in 2018 is $1404. I live now on about twice that. So if I retire, I will have to cut my expenses by half, and live well below the life I am accustomed to. I know you can work to supplement that income, but it is limited. It seems punitive to me to have restrictions on the amount I can earn even if I retire. I also doubt I would enjoy living on $1404 a month. Reason 2, I can earn more by not retiring.
The Economy is booming according to the fellow in the white house. Unemployment rates are at their lowest levels. America is going to need workers. I am going to need work to keep the lifestyle I am accustomed to. Reason 3, America is going to need me to work.
A recent estimate by a group concerned with federal budgets, suggest that Federal SSI reserves will exhaust when I am 72 years of age. The maximum time I can delay retirement is age 70. So I would have at best two years of retirement benefits and I would have to go back to work. Reason 4. does not make sense to retire for just 2 years, and then have to return to work.
My 5th and probably most important reason, is I do not feel entitled to have someone else pay for my rent, groceries and clothes, just because I did the same for seniors over 35 years. I did not enter the contract voluntarily, I was volentold that I would have to support seniors. That entitles me to nothing. The federal government took money from me and gave it to others, and then promises me that they will take someone elses money and give it to me, but wait, we can’t get enough, so you only get two years.
“By the sweat of your brow you will eat your food until you return to the ground, since from it you were taken; for dust you are and to dust you will return.”
Nothing in there says I can or should retire. It says I will work everyday of my life until I return to the ground. I probably stand alone in my sentiments, and I am okay with that. I will live my life happy and with my head high.