@cicerone imposter,
ci, I agree with you that in today's atmosphere of people knowing Social Security is always out there, it adds to the liklihood and the reality that many people do not and will not save for their retirement. Many people seem to think that Social Security is the only thing needed to support them. I am not sure if they really believe it or they just seem to live that way, because it takes more discipline than many people have anymore to save for a rainy day. It seems like society has gotten into the mode of instant gratification, if you can get it now, go for it. So given the society as we now see it, perhaps forced retirement insurance is the only form of insurance that some people will end up with, and without it, they would starve to death.
That does not change the fact that Social Security is at its root a Socialistic program that in the long run is probably destined to go broke, because there is another factor always in play out there, that government is also very undisciplined and has a tendency to spend money it does not have or will not have.
In regard to your personal responsibility, you and your spouse, I commend you, ci. Anyone that is responsible enough to do as well as you have for your retirement deserves credit and compliments. I sense that you are like almost every other person in this country, you have lived your life according to conservative principles. Rush often points this out, and I believe it is factual, that in reality most people live conservatively, because they have to as an American living in an atmosphere of liberty and personal responsibility. So then we have a dichotomy going on, how come you don't demand your government also conduct itself conservatively? I don't mean to go off on a tangent with that question, as my larger subject here is to give you compliments and to tell you that my wife and I have similarly lived our lives and planned for our retirement, which should end up being sufficient.
I have worked for a corporation in my earlier career and am vested from that. Then I ran my own business for more than 20 years, and paid into a SEP during all of that time. That is the reason I know what compounding interest and market growth of funds will do over a period of many years. In the meantime, I have been able to purchase very good family health insurance and take care of other necessities.
Interesting experiences with our health insurance, we have found that doctors are extremely likely to grant discounts when they find you are paying cash under a high deductible threshold, and perhaps even more importantly we have found many errors on medical bills, sometimes hundreds of dollars, for example charging for an ambulance ride that did not occur. That is why I am so convinced that the path to more responsible medical care is to shift as much responsibility to the people that are receiving the service, which would eliminate much of the overcharging and bring down costs significantly.
We have been able to buy our cars with cash every few years, mostly used ones with low mileage, our home is also now paid off, and we took one trip to Europe that cost us upward of 10 grand which we paid for at the time. We pay our credit cards off every month, mainly used for gasoline and occasional motel stays on short trips. I credit my parents who lived through the depression and never owned a credit card, for teaching us children how to live responsibly and stay out of debt.
I started with no money at all in grade school, I have paid for all of my college and everything else and have not received any kind of inheritance, so it has been proven to me not only with my own experience but with observing many other people, that responsible and conservative living will succeed in this country. We are not wealthy, certainly not millionaires, but we live comfortably. It is all conservative in principle, and so I see no reason why we should not demand our government also do the same thing. Count me conservative and voting Republican in every election, ci, because although imperfect they offer by far the best hope of governing in a reasonable and fiscally responsible manner.