My mom's a senior citizen today

[jtr1962]

As strange as it seems, both my parents are now senior citizens (my Dad turned 65 on October 2, 1999). For what it's worth, they generally don't look the part, although my Dad is about 100 pounds overweight. If I'm still posting here in 24 years, you'll all know when I become a senior, although maybe by then the age will officially be 85 with people living longer lifespans.

 

[CougTek]

Because of obesity, the upcoming generation (20 years old and less) is supposed to have a shorter life expectancy than us. So maybe it'll stay at 65 afterall.

 

[Pradeep]

Don't worry jtr, you will prob need to hit 85 before you are eligible for Social Security, the way the system is going now.

At least some good news today with Pataki cutting $800+ million from Medicaid in the forthcoming budget, saving counties over $200mill. Too bad about the schools that will have to close.

 

[sechs]

I thought that you were a senior citizen at around 55. Has this changed?

 

[jtr1962]

For some purposes 55 is the cutoff, but it's usually based on the age at which you are eligible for full Social Security benefits (this is 65 for my mom's generation). Many so-called senior citizen discounts (like half-fare on mass transit) start at age 65. I'm sure the definition will remain the same for at least a while even as the eligible age for Social Security increases (it's currently 67 for me, and will likely go up as I get closer to that age). In fact, I have the sinking feeling that every time I get close to the eligibility age they will raise it a few more years so that I drop dead before getting a dime.

 

[sechs]

67? I thought that you had to be 72 to get full benefits....

 

[jtr1962]

They raised it again? Ugh. I think there's a grain of truth to what I said about never collecting.

 

[Pradeep]

I believe it is currently still 67 for men.

 

[blakerwry]

bwahgahgaha. ugh :-(

 

[Mercutio]

Congratulations to your mother, jtr.

... and this folds back neatly into the whole Dean thread thing.
I'm 28 years old. I personally probably won't live until I'm in my 60s, but as a matter of principle, I don't have an problems with the fact that when (if) I reach that age, Social Security will have been out of money for ~10 years. Philosophically speaking, the generations that came before deserve our care in old age, and even if I never see that ~10% of my income again, I'm fine with that. I can just imagine that it's my dollars that'll be paying for Bill Green to be rattling sabres at liberals after his big retirement day.

 

[jtr1962]

It probably won't bother me either, but my reasoning is a bit more involved than yours. First of all, I'm not expecting anything from Social Security. I know what shape the system is in, and I've also alluded to the fact that it is likely the US may fall like the USSR before I'm old enough to collect. If the US goes, so does its Social Security obligations.

The rest of my reasoning has to do with what I pay, or rather don't pay, into the system. This year is the first year I'm filing as an independent contractor rather than an S-corporation (this is the only legal way I've found to avoid paying Social Security taxes). My goal is minimizing my taxes same as any other business, but after accounting for the fixed fees filing as an S-corp only costs less if I make about $10,000 or more. Therefore, until I consistently make over $10,000 per year I won't be filing as an S-corp any more. Let's say I don't have much luck, and make just short of that amount. I'll continue to file as an independent contractor for the next 25 years. I will have paid ~$30,000 into Social Security. Had I invested that myself instead and kept up with inflation, I would have had the equivalent of $30,000 25 years from now. Enough to last me two years if I'm lucky. Therefore, no big deal if I lose it because I don't collect Social Security. If I make significantly less than ~$10,000 then I will have paid even less into Social Security, and my losses are smaller. If I make consistently more, I will have filed as an S-corp and not paid anything. Therefore, I essentially capped my potential losses in Social Security to about $30,000 regardless of what happens with the system.

BTW, any reason you don't think you'll live past your 60s? Do people in your family have a history of dying fairly young? I'm just wondering because even my morbidly obese, sedentary grandmother died a few years ago at the age of 87. I tend to think any person taking reasonably good care of themselves these days can make it into at least their 90s, and probably well over 100. We got a Christmas card from one of my former neighbors this year who just turned 96. 60 or 65 is young by today's standards.

 

[Bartender]

Senior citizen? Sorry, I don't understand that concept. Maybe now that Tea is back she can explain it to me . . . er . . . wait, she probably won't know what that means either. Oh well. Can senior citizens still order drinks from the bar?

 

[blakerwry]

if their walkers allow them to get close enough.

 

[Mercutio]

BTW, any reason you don't think you'll live past your 60s? Do people in your family have a history of dying fairly young? I'm just wondering because even my morbidly obese, sedentary grandmother died a few years ago at the age of 87.

My father's side is good, but the fact that my maternal grandfather, who was a healthy, athletic man, died at 46 is highly bothersome. That and I can't claim I do anything to take care of myself.

 

[Tannin]

REad the article about beef that Buck linked to in the beef thread: there is one place to start on the healthy diet war.