I'm trying hard not to add to this bon fire, but I can't resist.
I'm very, very happy for all of those enterprising individuals out there who can independantly save enough money--on top of SS, TSP, pension contributions etc--to provide for themselves in their retirement.
That certainly sounds wonderful. But, that's sheer fantasy for most people.
If my military pension, US govt pension and SS all are 'confiscated,' eliminated or otherwise terminated without paying any benefit once I retire, I certainly wouldn't expect that they would keep their hands off my TSP or, for that matter, my bank accounts either. If that happens, I won't be worried about paying my bills, but I'll doubt there will still be many public servants to kick me out of my home. For that matter, there probably wouldn't be any government or military to worry about either. I've seen that movie--it wasn't very good and didn't have a good ending either. By the way--those who saved enough 'money' for your retirement independantly? You better have that money buried somewhere, because the banks won't be open and those greenbacks will probably be worthless anyway. Get my point?
I concede that Social Security is a plan which cannot survive, intact, under current conditions. All the data/research/opinion pieces recccomend raising the tax, lifting the payroll tax cap, raising the retirement age, changing the COLA (already happening elsewhere) and....wait for it....increased means testing that will phase out SS benefits for those with non-SS retirement income $55-110K and above. While none of this is law...yet, I certainly can see the handwriting on the wall: It's doubtful I'll ever collect my Social Security. Having said that, suggesting that ALL forms of retirement benefits (USG, US MIL, TSP etc...) are soon to be null-and-void is just doomsday talk. IMHO.
I'm not building a bomb shelter in my back yard, and i certainly DO expect to collect my USG/US Mil pensions and TSP when I retire. Finally, I'd vote for any man/women or child who would allow me access to my Social Security funds now so that I could manage them and, maybe, one day collect them. But, we all know that ain't happining.....
Again, just my 2c. Now, can we get back to TSP and stop planning for zombie wars?
Posted by: TATERHED@HOTMAIL.COM
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