Episode Transcript
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Speaker 1 (00:00):
I am in my early thirties or early to mid thirties.
I am also not close to retirement age. Not that
retirement isn't something that I'm sure we think about, just
kind of generally, like, Hey, do you want to invest
into a four to oh one k roth Ira or whatever.
This is why you should talk to your financial advisor.
Please do not take anything that we're about to talk
(00:22):
about for literal retirement advice. However, there is a person
I think that likes to give advice, and this is
somebody I like to actually listen to a lot. And
his name is Ben Shapiro. He's got a show called
The Ben Shapiro Show. He is on the Daily Wire.
He is a very smart person. He is incredibly intelligent.
He talks in a way that I think people who
(00:44):
disagree with him think that he's pompous and arrogant, But
I just think he's very sure of the way that
he thinks about things. And that's one of the reasons
why people do appreciate listening to him is because you know,
he makes them think, but also he gives really good
reasoning for what he thinks and why he thinks that. Now,
Ben's not close to retirement age either. But he his
(01:07):
job is you know, medius, so he's going to add
a lot of context to this. I want to preface this.
This is not a new clip. I'm about to play
a clip from his show from last March. This was
during the you know, kind of early stages. Trump and
Haley were still kind of going after it after each
other and the primaries and caucuses in the Republican Party.
(01:28):
But we assumed Trump was going to win, rightly, so
Joe Biden was still technically in the race. We hadn't
you know, gotten to that June debate that kind of
hold the curtain back that Okay, this guy's probably not
going to even make it to the election before the
Democrats pull him out of here. All that stuff. Right,
So this is from a year and like four months ago.
(01:49):
Keep that in mind. So this this conversation, But the
conversation itself, and the point he's about to make about retirement,
retirement age and our system and how it's set up
is a thinks still relevant today. So here's been Shapiro
from his show last March talking about retirement and let's
be real about this. It's insane that we haven't raised
the retirement age in the United States. It's totally crazy,
(02:10):
Joe Biden. If that were the case, Joe Biden should
not be running for president. Hey, Joe Biden is eighty
one years old.
Speaker 2 (02:15):
The retirement age in the United States at which you
start to receive Social Security and you are eligible for
Medicare is sixty five. Joe Biden has technically been eligible
for Social Security and Medicare for sixteen years, and you
would continue in office until he is eighty six, which
is nineteen years passed one, he would be eligible for retirement.
No one in the United States should be retiring at
sixty five years old. Franklin, I think retirement itself is
(02:35):
a stupid idea unless you have some sort of health problem.
Everybody that I know who is who is elderly, who
has retired is dead within five years. And if you
talk to people who are elderly and they lose their
purpose in life by losing their job and they stop working,
things go to hell in a handbasket real quick. But
put all of that aside, just on a fiscal level
and on a logical level. When Franklin Delano was Avelt
established sixty five is the retirement age the average life
(02:56):
expectancy in the United States was sixty three years old. Today,
the average life expectancy in the United States is close
to eighty. It's totally insane that you believe that you
should be able to work from the time that you
are essentially twenty to the time that you are sixty five,
which is a forty five year period. Pay in, and
then you'll receive Social Security benefits sufficient to support you
and your family, you and your wife whatever, for like
(03:17):
another twenty years. That's crazy talk. That is not fiscally sustainable.
The notion that if you have to raise the retirement
age to sixty seven or sixty eight, that everyone is
going to fall apart. My parents are that age. My
parents are not retired, and they shouldn't retire. It would
be very bad for them to retire. By the way,
it's disrespectful to people who are sixty seven, sixty eight,
sixty nine years old to suggest that they are in
the same shape as people who are sixty five were
in nineteen forty. It's not true at all. Have you
(03:40):
met a sixty five year old lately? Sixty five year
old are not old in the United States. They're not
sixty eight year olds are not old in the United
States again, Joe Biden thinks he's not old, and that
dude is running for president again, and that dude actually
is old and he's eighty one. I failed to see
how a country in which our entire leadership class is
eighty plus is telling you that we should have a
retirement age of sixty five.
Speaker 1 (03:58):
It makes no sense at all, all right, Shapiro. And again,
the reason this has been brought up is going viral again.
Fifteen million people have seen that clip that has just
been reposted this week from you know, a third party account,
just kind of starting a conversation, and a lot of
people are commenting on it in different ways. Matt, I
have to ask you, let's talk about the crux of
the conversation. Retirement itself a dumb idea. It's probably a
(04:22):
case by case basis, right. I mean, you and me,
if this is what we do for the rest of
our lives sitting behind a microphone, I mean, we work
with a guy on this radio station that I think
doesn't have any intention to retire anytime soon. And Gary Saddeleminer,
the guys is still still super sharp, right, and he
I don't know if he's even talked about it before, right,
I don't know if it's a stupid idea though, if
(04:42):
I'm like a concrete guy from a roofer all right, construction.
Speaker 3 (04:47):
Worker, Yeah, I mean that there's certainly holds to poke,
you know.
Speaker 1 (04:51):
And Bit Shapiro, for whatever it's worth, is sitting behind
a microphone for most of his jobs, So I mean
it might be a dumb idea for him.
Speaker 4 (04:57):
You just have to work the old new there.
Speaker 3 (05:00):
I think that certainly seems hyperbole, and maybe it's true
in his certain very specific circumstances that he's never met
anyone who's lasted longer than five years after they retired.
It's just objectively false for my lived experience, so I
haven't witnessed the same thing. But I do think that
(05:21):
an interesting conversation on staying uh, you know, with a
purposeful life even after you give up the day job
at a certain age. I think that there's a healthy
discussion about that for sure, right, Yeah, but I mean
that seems pretty silly. And also, yeah, don't we all
want that rainbow at the end of the of the journey.
(05:41):
You want that that ability to kind of you know,
jump out of the plane with a parachute that you
can float down with. I don't know what analogy I'm
going for here, but you know, I mean, yeah, retirement,
like the idea of getting the RV and seeing the
grandkids and being able to you know, live out your
listful end of life there that way. I mean, of course,
(06:02):
it's it's objectively appealing. I think that it's silly to
me to say that people shouldn't retire well. And also
I think we I think they appendage to that part
of the conversation. There's a lot of different little spokes
to the convo there that we can get into. But
I think the like what is the work that you're
(06:24):
doing is such an important aspect of it. I mean,
we're in our thirties, and I think you and me
both would like, you know, kind of little side hustles,
side gigs that kind of make us feel like life
gets a little spicy from time to time. We are
not of the same generation as you know, our parents
or their parents or their parents, you know, the last
three four generations, those people really committed to a career.
(06:48):
I mean my dad, I don't know.
Speaker 1 (06:49):
I can only talk to you about how like my
personal experience, my dad was doing jobs to make our
money for our family, and you know, I'm sure he
found a job. I think he's happy, you know, relatively speaking,
with the job that he does, and he's grateful for it.
But it wasn't the plan, right, Like he didn't wake
up when he was twenty years old, and it's just like,
(07:11):
I'm dedicating my life to this career, you know, and
we could try to do that. You can go to
school for it, but that doesn't mean that everything works
the way that it's supposed to. It doesn't mean that
everything is like hunky Dory all the time. It's all
sunshines and daisies. I don't know even though like how
I would be feeling as I would approach that, maybe
I'd like just see the finish line and want to
finish what I would be doing, But that doesn't mean right,
(07:32):
And we can get to the fiscal and the money
part of this, because I do think that he makes
an interesting point there, but I think that just in general,
mental health wise, I don't disagree that you need something
to do with your life, but that doesn't mean you
have to just have a traditional full time, forty hour
a week job to hold yourself over in some way.
Maybe some people do, certainly not everybody does. And you
(07:55):
can still stimulate your mind and your body by doing
other things, even on a part time basis, as a job,
or with hobbies, or with volunteer hours, or just in
general with your family. I think that there are ways
that you could do that without like deciding that I
have nothing to live for.
Speaker 3 (08:13):
I mean, can your quote unquote job be being an
amazing grandparent, you know, loving on and taking care of
your your grandkids, being active in your church.
Speaker 4 (08:23):
How couldn't it.
Speaker 3 (08:24):
I don't see why that can't be your quote unquote job.
I mean we all have different purpose, and that yeah.
Speaker 1 (08:30):
Find purpose almost anywhere with what you love, what you
care about, you know what I mean, You and your guitar,
you know, me and my birds and my wildlife, right.
I mean, like, if you gave me an opportunity just
to spend more time doing that, my brain would be happy.
I would I wouldn't decide to just like, oh I
better just die now because I have nothing to live for.
I just don't see that being like part of the
(08:52):
issue here. But easy for us to say behind a
microphone if you want to talk to us about this,
you can four h two five five eight eleven ten.
You can also email me Emory at kfab dot com.
We'll talk about the fiscal part of what his point was,
which I think is an interesting point coming up next
on news Radio eleven ten KFAB.
Speaker 4 (09:09):
Emrie's songer on news Radio eleven ten KFAB.
Speaker 1 (09:12):
Another point that he made here is the fiscal responsibility
of retirement and about social security and how that all works.
Speaker 4 (09:19):
And he makes an interesting point.
Speaker 1 (09:21):
Back when social security was first a thing, it was
first created, the uh, how do I best put this,
the retirement age actually was longer or older than the
average lifespan of the American mail, Right, So like, how
many people even on average were getting to that age
to be able to pull out whatever social Security was,
(09:42):
and then for how long probably wasn't even that long
on average when they got to that age. Fast forward
eighty ninety years. Here, all of a sudden, we're living
to eighty years old pretty regularly. And you know, the
last couple of generations are quite healthy.
Speaker 4 (09:57):
You have no reasonable eave.
Speaker 1 (09:58):
Millennials gen z Ors Jen Aalfha aren't going to also
be living much longer. And we're still getting the retirement
benefits from the government at the exact same point in time.
Speaker 5 (10:09):
Now.
Speaker 1 (10:09):
If you've been putting money in and you are within
a couple of years of retirement stuff, you don't want
this stuff to change. You have a game plan, you're
ready to go. If you're wanting retirement you want to
take those benefits out, or if you want to keep
working until you feel good about it and then retire
and then be able to collect some of those benefits
it's some supplemental income or you know, maybe they'll be
just a little bit, you know, you'll get a little
(10:30):
bit more out of that. You know, check that you're
receiving on a month to month basis. Then that's a
completely I think reasonable thing. And I don't want anybody
to think that that's what I'm in. Like, if you're
sixty one years old and you've been thinking the last
ten years kind of what the plan would be with
sixty five being the year that this could all start happening.
I don't want to be the guy that's like, oh, yeah, sorry,
(10:53):
you're going to live way longer than that, so we're
going to move the number on you. But we probably
for people in the future it does make sense to
move that age up to sixty eight to seventy to
seventy two. I don't know what the right number is,
but based on our life expectancy and how long people
are generally working now and how much things cost, and
(11:13):
that are governments like thirty seven trillion dollars in debt,
I don't see why that isn't a reasonable compromise in
some way to this particular topic.
Speaker 3 (11:23):
We can all agree. Can you imagine the evil oakie dok?
It would be to the sixty four year old who
is living in the year when this has changed to
like seventy five.
Speaker 1 (11:33):
Yeah, there's just no way, right, Like you would have
to say the cutoff for it would be like if
you're fifty five now or younger your age, if you're
between like fifty five and forty five or some I
wouldn't say.
Speaker 3 (11:44):
You instituted the year you institute it. It only goes
into effect for someone who's born in that year, right.
I mean you could be said that's crazy and it
only goes into effect and that's a long time years later, right,
It's a long time, right, But you know, do you
increment it?
Speaker 6 (11:57):
Right?
Speaker 1 (11:57):
So here's here's my proposal maybe like fifty to sixty. Like,
if you're fifty to fifty nine years old and your
birthday is in a certain amount of time in those
calendar years, your new retirement age is at sixty five
at sixty seven. If you're forty to forty nine, it's
not sixty five at sixty nine or seventy And if
you are under the age of forty, your new retirement
(12:18):
age is like seventy two or seventy three.
Speaker 3 (12:19):
Yeah, so you only get so people only have a
couple more years put on their tab kind of if
you're closer to that number and you're not like right,
like if you're sixty two.
Speaker 1 (12:29):
I don't want to be the guy that says, in
three years you can't retire because you've been going your
entire career thinking that was going to happen. But like,
if we can just create kind of like that ladder rule,
I think we could get to that spot, maybe even faster,
with also being respectful to how long people have operated
(12:51):
under an assumption of how the rules are going to be.
I don't want to be the guy that says that
those people that work really hard physical jobs can't retire
at sixty five though, because that I'm not doing that,
and I think that they do. If you want to
talk about retirement, your experience with retirement, callus at four
h two five to five, eight eleven ten News Radio
eleven ten KFAB. We love the people to not just listen,
but also to take part in the conversation. We're we're
(13:14):
talking about retirement. Yeah, we're talking about different things retirement related.
Played a clip from Ben Shapiro's show from last year.
So not sure how you know how he feels about
it in this moment, but there were a couple of
things first of all, that I think we can talk about.
First of all, retirement in and of itself, he says
it's just a bad idea. It's easy for him to
(13:34):
say he's got a lot of money, but also a
job that isn't super physically demanding and he's nowhere close
to retirement age himself. But also, I think it's really
interesting to talk about how people feel about retirement, because
I think everybody kind of has their own opinion on that.
Speaker 4 (13:50):
So that's what we want to talk about.
Speaker 1 (13:51):
We also want to talk about the fiscal responsibility of
the government needing to help us theoretically that doesn't mean
that they have to, but in the social security kind
of realm to help people when they get to a
certain age, to give them retirement benefits as they age,
something that we can talk about. Also, So, yeah, phone
lines are open and the emails open. First off, the
(14:13):
email Emory at kfab dot com, E M. E. R
Y at kfab dot com. And then we have the
phone lines open as well. At four oh two five
five eight eleven ten four h two five five eight
eleven ten. We have Joe on the phone line at
here on eleven ten Kfab. Hey Joe, thanks for being
on the show.
Speaker 7 (14:30):
You're ready, good afternoon.
Speaker 4 (14:32):
How's it going good.
Speaker 7 (14:34):
I just think your retirement has a lot to do
your age, with what you did for a living. And
when I say that, I was a fireman for twenty
eight years, and I can guarantee you I couldn't climb
a seventy foot area and at sixty five.
Speaker 4 (14:48):
Years old, sure for sure.
Speaker 7 (14:49):
So my body was worn out. And then so so
just a little kid that everybody does want it doesn't
fit everybody's yeah repertoire to retire at age seventy or
sixty five whatever.
Speaker 1 (15:05):
Yeah, it makes a lot of sense, Joe. There's no doubt.
There has to be some sort of scale of you know,
like physical jobs, and when the expected end of career,
at least in that line of work would be no, no,
no doubt. And it, to speak in generalities, it is
probably not a good thing.
Speaker 4 (15:24):
On this front either, dude. Oh, go ahead, go ahead.
Speaker 7 (15:27):
I hit the road at fifty and I had more
screws in both in me than Carter's got pills.
Speaker 1 (15:34):
I appreciate you for being a part of the show, Joe,
thanks for sharing your story with us today. Got Phil
on the phone line. He's called us at four oh two, five, five,
eight to eleven ten. Failure with Emory on eleven ten, kfab,
How you doing? Not too bad?
Speaker 6 (15:48):
Man?
Speaker 4 (15:48):
What about you?
Speaker 6 (15:49):
I'm doing good man. I'm sixty eight years old. I
started the full retirement age for my age bracket is
fifty six and a half. Okay, all right, you wait
till your seventy and a half. You get more money
from SO Security, you take take it as early as
sixty three and a half or whatever, and you get left.
Speaker 4 (16:04):
Okay.
Speaker 6 (16:05):
That's kind of sliding up. It needs to slide up more, though,
because so security. It's not sustainable. It isn't sustainable at all.
When this whole thing was started, there were like thirty
people paying into SO security for everyone on it, and
I think there's only like I think there's only two
pan in now for everyone on it. Plus you got
(16:25):
all these people out here that are getting SO security
disability that could be working. Ye, all right, there's no
reason they couldn't be sitting at home doing customer service
over the phone. No reason they couldn't do that even
in a wheelchair.
Speaker 7 (16:37):
Okay.
Speaker 6 (16:38):
Now, having said that, you know, it's a good thing
these farmers didn't retire at sixty five because we wouldn't
have anything to eat.
Speaker 4 (16:46):
Yeah, that's a good point.
Speaker 6 (16:47):
That's a good point because most of the farmers out there,
I think fifty five plus, yes, and I'd say probably
at least a third of them are sixty five and over.
Speaker 4 (16:56):
Yes, more than that.
Speaker 1 (16:57):
So what would be kind of your best scenario for
a system, Phil? You know, obviously the farming thing. Agricultures
are completely different, you know, kind of a realm that
we're gonna need to tackle, especially like you mentioned, and
I completely agree that we're getting less and less farmers
as the generations move forward. But what would be kind
of the right age you think in general? Or should
(17:19):
there be different age brackets based on what people do
as an occupation.
Speaker 6 (17:23):
You know, even even the fireman that you talk to,
he could do something, Okay, Yeah, I mean in all seriousness,
and you know, people probably wouldn't want to, but everybody
has this expectation you're gonna you're gonna retire and you're
gonna have plenty of money, and that's just not the
case in ninety percent of cases. All right.
Speaker 4 (17:43):
Yeah.
Speaker 6 (17:43):
And furthermore, you know, my mom she's been going for
like four months now. In the last two years of
her life, she had to go to the bathroom and
ahoy or basically a crane okay take her to the bathroom,
and a lot of that was basically, frankly, it was
her choice because she didn't want to do what it
took to stay mobile, all right, Okay, And I don't
(18:05):
want to go out like that.
Speaker 1 (18:07):
Yeah, I'm hearing that, Phil, And I don't think that
it hasn't been a discussion for me too, is you
know kind of like what quality of life could be
for somebody even as they enter kind of those those
you know, elderly years. But it's a good perspective on
your front. And you know, I'm really appreciative that you
call in and give us, you know, kind of how
you're seeing things. It's always appreciated, appreciated. So thanks for
(18:29):
calling us again and have a great day.
Speaker 6 (18:30):
Hey, I started working out like ten months ago, okay,
oh okay, And I can dead lift to seventy five
at sixty eight years old. That isn't too bad.
Speaker 4 (18:39):
No, it's more than I can deadlift.
Speaker 6 (18:40):
Not that it's not too bad, but so and I've
said this before, I've never been more optimistic in my
whole life about the future of the United States of
America as I am right now. And that's that. And
if I'm sitting on my couch getting fat, I'm not
going to be able to participate or to hell with
this great future that I see that we could have
(19:03):
in America.
Speaker 4 (19:04):
And so a.
Speaker 1 (19:04):
Powerful statement there, Phil, and it's an inspiring one as well.
I do appreciate you for being a part of the
show today.
Speaker 4 (19:10):
Wow.
Speaker 1 (19:11):
I mean yeah, by the way, two seventy five deadlifts
for anybody who's not quite familiar with what that number is.
I mean when I'm getting into like the one fifties,
one sixties. I start to feel like this is starting
to get unsafe for me. So shout out to Phil.
How about that sixty eight years old? Good for him? Douglas.
We'll take Douglas's call next. Douglas, thank you for being
on our show today. Welcome into eleven ten kfab.
Speaker 8 (19:32):
Oh hello, how are you doing there?
Speaker 5 (19:34):
Right?
Speaker 4 (19:35):
I'm good, sir.
Speaker 8 (19:35):
Here's what I got to say. Hey, so they've changed
this that they never changed the minimum age. Right, they
never changed sixty two. They changed it for everybody get
up to sixty seven. At the time, they probably should
have raised it to seventy two. But if you go
by the premise of when it was put in, the
retirement age would be seventy eight. Why do I say that,
(19:57):
because when Social Security started back in Roosevelt years, people
only live.
Speaker 5 (20:04):
To be sixty four. Yeah, right, average life.
Speaker 8 (20:07):
Now, the government never planned I'm paying ninety percent of
the people. They planned on paying ten percent of the people.
Sure if you look at what they did, well, you
know we want to live longer. I mean, I've worked,
I'm right twenty first, I'm eligible for Sold Security.
Speaker 5 (20:27):
I'll be sixty six and eight months.
Speaker 9 (20:29):
Okay, I'm twenty first.
Speaker 8 (20:30):
Okay, but here's the thing. I paid in from the
day I started working, and I've had at times two jobs,
so I've been paying into this and I never made
over the amount. So I've been paying into this for
since I was like sixteen, seventeen years old.
Speaker 1 (20:47):
So so, Douglas, what you're thinking is, you know, like
you don't want to see it pushed back even beyond that.
I get the whole seventy eight argument because that would
kind of more so align with what the original concept was,
you know, ninety years ago when they were thinking about this.
Speaker 8 (21:01):
Yeah, but for you and for us us, every time
they modify it, it makes it go down. Its sustainability
goes down. If they would have originally left it exactly
the way it was supposed to be and not added
all the other stuff when people died, where your kids
get money or this gets money or that gets money,
(21:21):
there's other programs for that. You should have never have
done that. In fact, in my dad's generation, he had
ten siblings, five of them did not make it to
forty Only five of them lived to be over seventy five.
And my dad right now, who is the fourth one born,
(21:42):
Kim and the baby. They only let ones left and
my dad's ninety one.
Speaker 4 (21:46):
Wow, that's crazy.
Speaker 8 (21:47):
Yeah, okay, and so half of his family didn't even
get to get it.
Speaker 4 (21:50):
Yeah. Well, and that's the thing.
Speaker 1 (21:52):
I think that you know Douglas more than anything, and
I do appreciate your perspective on this, but I think
that's the argument that a lot of people are making
is just it doesn't seem to be a fair process,
no matter how they set it up. And I do
appreciate the call today, Thanks for giving us one.
Speaker 4 (22:06):
I got to hit a break. This is good.
Speaker 1 (22:08):
I want to learn more about how people feel about retirement, age,
retirement in general, what that does for the mind, what
it does for the body. Also what your opinions are,
like Douglas had of you know, the social Security system
and whether it's fair, whether it's unfair, but also what
the process is for people and what we should be
doing as far as what age you could be pulling
from social Security.
Speaker 4 (22:30):
Would love to hear your experience.
Speaker 1 (22:32):
If that's you or you know somebody who is, call
me at four oh two five five eight eleven ten.
Speaker 4 (22:36):
Four h two five five eight eleven ten.
Speaker 1 (22:38):
We'll talk about this as long as we want here
on news radio eleven ten kfab and what he's doing here.
It's just about our opinions and how we feel about
certain things. So if you're trying to call in, just
wait until I get through some of these calls, and
then the phone lines will start opening back up and
you can get in line and we can chat with
you and we'll talk about this. I don't have anything booked,
so as long as we want to talk about it,
we can't. Jeff's on our phone line. Jeff, welcome to
our show today. What are you thinking of out on
(23:00):
this particular topic.
Speaker 9 (23:02):
The first thing, Emory is that most people that talk
about social Security don't understand the basic principle. I'm eighty
six years old. I started paying in when I was eleven,
and when I started paying in, I could buy a
Hamburger for twenty five cents. Now Hambergers are five dollars.
The thing is, everybody says that it won't last. They've
tinkered with social Security since day one. They use actuarial
(23:25):
tables all the time, so they when they figure out
when you're sixty two, if you draw early, you're only
going to draw so much if you're sixty six, don't
draw so much. If you wait till seventy two, there's
a bonus, but you aren't going to live as long.
They tinker and tinker and tinker. But the big fact
is it's not government money. It's your money, the people
that put in. If you don't put in, you can't
(23:47):
draw it out. That's the main thing. And people have
to understand that. People that are critical of it forget that.
Baseball players when I was a kid made thirty six
thousand dollars a year. Now they make eighteen million million
dollar minimum, but eighteen million tops. Yeah, they only get
charged social Security on the verse one hundred and eighty thousand.
Speaker 5 (24:07):
That could be tinkered with.
Speaker 9 (24:09):
There's all kinds of tankers, but you've got to remember
that it's not a government program. It's a government administrated
it's a separate budget. Money's in a separate account. They borrowed,
they lend the money to the federal government, but they
still social Security dollars.
Speaker 1 (24:24):
It's very interesting. Yeah, Jeff, that is a great perspective.
Thanks so much for listening and calling in today. Really
do appreciate that Grady is on our phone line at
four two five, five, eight to eleven ten Grady, Welcome
into eleven ten kfab.
Speaker 10 (24:36):
Hey, thanks Memory.
Speaker 5 (24:37):
Hey, just a few thoughts here.
Speaker 10 (24:39):
You know, you talk about planning for retirement. I think,
you know, figure out your hobbies, figure out what you
want to do so that you, you know, don't don't go
away five years after you retired.
Speaker 5 (24:49):
I think as it.
Speaker 10 (24:50):
Relates to, you know, your finances, people are more favvy.
They're they're into I raise, they're into you know, four
oh one k's, and you know they're saving better than ever,
you know, so things on social security, you know, I'd
like to see an option where you can opt out,
you know, if I don't want some security benefits or
I don't want to contribute, I want you know, those out.
Speaker 4 (25:09):
Yeah.
Speaker 10 (25:09):
And the other reason that people retire at sixty five,
A big reason is because of healthcare. And that's when
Medicare kicks in. And so if there's some waiting for
us to reallocate our maybe our social security dollars towards
our medicare, you know, maybe people who have invested wisely
or can retire early would, but a lot of people
hold on to sixty five because of those Medicare healthcare
(25:29):
benefits that really eat up your retirement.
Speaker 1 (25:32):
Yeah, this is a good point here about you know
what that age looks like in what may be your body,
and this is why it's case by case. But I
think that one of the important things that you just
kind of mentioned there is people are holding on for
different reasons, right, and what that looks like as you
move into you know, your sixties, your mid sixties, and
(25:54):
you're kinting down the months until you can actually start
to draw from that. I like the optional idea. If
there was a way that I could just keep my
money and know that I can just put that into
whatever four oh one K or roth Ira or whatever
my setup is, or I could kind of put it
into any sort of benefit that could end up being
like Medicare or Medicaid or whatever that could give me
(26:14):
the opportunity to have better benefits for my healthcare without
needing that supplemental retirement fund that Social Security is for
so so many people. So I'm intrigued if we could
write that down and try to figure out a way
to make that happen. I think a lot of people
would say, Yeah, that'd be great if that was optional.
Appreciate the call Grady. Thanks for listening to our show today.
Christy is on our phone line at four oh two
(26:36):
five five eight eleven ten, Christy, You're a Memory on
news radio eleven ten kfab Hello Emory.
Speaker 11 (26:42):
Hey, I'm so this was fortuitous that you had this
conversation today. So I'm going to put this in a nutshell.
My ex husband is sixty two. He lost its job
three months ago, has had plenty of time to work.
He's able bodied. By here's my big question. He the
(27:06):
Social Security office allowed him to take my sixteen year
old daughter without my knowledge into their office. He applied
for her social too, so now he's getting his and
her How is that legal? Because that you know, I'm sarry.
I'm boiling over at this point.
Speaker 1 (27:25):
So yeah, yeah, no, I don't really know, Christy. I
guess my thing would be like, do you have a lawyer?
Speaker 6 (27:34):
Uh?
Speaker 11 (27:34):
Yeah, I do.
Speaker 4 (27:35):
I would call that.
Speaker 1 (27:36):
I would call that person because it doesn't sound like
it was something that should be allowed. But I also
know from you know, my experience with some not my
personal family members, but a very close person to me,
their family kind of had an interesting situation and it
wasn't retirement or social security related, but it was like
child support related and the amount of stuff that was
(27:57):
just kind of allowed to go on just because one
person just wasn't asking the right questions or wasn't trying
to get it enforced. You know, that it just kind
of snowballed and became a much bigger problem than it
should have been because it wasn't nipped in the bud
like fast. So I would suggest a lawyer would probably
know exactly what is or isn't allowed, and then look
(28:17):
for the paperwork to be able to enforce whatever you need.
There would be my suggestion.
Speaker 11 (28:23):
Yeah, I appreciate that. And here's my other concern is
she's sixteen and she wants to start a job. Well,
now since he's you know, kind of wrecked up, she's
got to start all over again. Her social security has
been building since she was born. Yeah, well now she's
got to start all over again. So right, another question.
Speaker 1 (28:46):
For Yeah, Yeah, I would I would talk to your
lawyer on that one too, and see if there's some
way you can recoup those funds. And she's a you know,
if you didn't co sign on that, I just don't
know how that should be allowed. But you know, I
guess you know that's complicated.
Speaker 6 (29:01):
Christy.
Speaker 1 (29:01):
I wish I had better answers for you, but I
appreciate you calling in.
Speaker 11 (29:04):
This was perfect, So I wish everyone luck out there.
But be careful.
Speaker 12 (29:09):
Yeah, someone you're if you have.
Speaker 11 (29:12):
A minor child, don't let them try to pull this stunt.
Speaker 4 (29:16):
Yeah, for sure it won't work.
Speaker 1 (29:18):
Well, Christy, I appreciate you calling in and giving us
that story and maybe they'll give something people something to
think about a little bit here.
Speaker 4 (29:24):
Appreciate you for being part of the show.
Speaker 11 (29:25):
Okay, take care you too.
Speaker 1 (29:27):
We got more calls coming in. Four oh two five
five eight eleven ten is the number four oh two
five five eight eleven ten. We will continue this conversation
many emails as well about retirement. Do you feel like
retirement is something that is a bad concept, min Shapiro
and the clip that we played suggested that it was.
But if you think retirement is something that you want
to do, like I'm sure most of us do, what
(29:48):
should be kind of the parameters for social security, the
collection of social security and the way that you know
we have benefits when we achieve a certain age into retirement.
Call us at four h two five eleven ten, four
oh two five five eight eleven ten, News Radio eleven ten,
Kfab and Marnie. Let's get back into the phone lines.
Four oh two five five eight eleven ten. Four oh two,
(30:09):
five five eight eleven ten is the number. Mark is
on the line. He'll start us off this segment. Mark,
thank you so much for being a part of our
show today. What is going on today?
Speaker 5 (30:19):
Hi, Amory, my pleasure. So I actually wrote down some
things so I don't ramble on. Okay, So I think
people forget When FDR first put in Social Security, it
was in a protected trust which was not part of
the government expenditures, and it earned money in that trust.
(30:41):
Then in the mid sixties, the government Congress voted to
move it out of that trust into the general fund
because they were spending too much money. Yeah, and so
but they promised, oh, we'll pay it back. Well that
never happened, obviously. Sure, So this is one of the
big reasons why it's now running out of money. And
(31:04):
because they keep spending, they spend all that plus they
keep spending right. Yeah, So I've worked from fourteen to
sixty six. I paid into it, I was forced to
pay into Social Security and so I did that. But
the returns when you pay into Social Security as opposed
to your own if you invest it, are minimal. And
(31:27):
I think the idea of opting out is a decent idea.
The problem is you'd have to form it around a
whole new system to avoid basically screwing over all the
other people. That makes sense.
Speaker 1 (31:40):
Yeah, you'd have to like put like an age on it,
like you have to be a certain age or younger
to be able to opt out, because I mean, it's
going to be a complete jarring to the system one
way or the other. But like you said, will the
funds even be there? Will the government even care enough
to help out the people that are looking really closely
(32:01):
at you know, the end of the finish line to
get there, and we're hoped to take advantage of this
program that they were told that they could benefit from
as they got to retirement age. It just doesn't seem
fair that you've wait this entire time hoping to have this,
as you know, at least supplemental income as you get
into your late sixties and into your seventies, and then
(32:21):
all of a sudden, things are just you know, constantly
changing and you're not able to take full advantage of it.
I don't really know what the right answer is, Mark,
I don't know how we can do that, but I agree.
I think there needs to be some sort of overhaul,
especially to make it an optional system for people.
Speaker 12 (32:35):
Yep.
Speaker 5 (32:35):
And here's the other thing. I'm seventy two now. I
retired actually a few months before my sixty sixth birthday,
which is my fuller retirement age. But part of the
reason I did was and I was still working, but
I had what they call an aortic aneurysm dissection, and
that's basically what they call the widow maker no boy,
(32:57):
And they told me I was in the two since
that survived that because I had it at home. Normally
you bleed out within five minutes. And so I continue
to work, and then my company reorganized, and I asked
my wife. I said, well, so they're asking me if
I want to do this, And she said, you're four
(33:19):
months away from retirement. Why the hell would you even
consider that. Yeah, I've got fourteen grandkids and I'm fortunate
enough to have that. I'm blessed that I made enough money.
But here's the other thing, the last thing I'll say.
And then I'll get off the phone talking about planning
for retirement. Too many people spend more than they make,
(33:41):
and people don't distinguish between what do I want and
what do I need? And I was guilty of that,
but I started figuring that out fortunately early enough. But
there's so many people that you see these huge houses,
but I don't know how much what percentage of them
are knee deep in debt, but I'm it's a pretty
good size.
Speaker 12 (34:01):
Yeah.
Speaker 1 (34:01):
That's a good role too, Mark, is just you know,
managing what you have as income, even with the supplemental
income that Social Security could be giving you, plus whatever
you've saved. You can't just be living a lavish lifestyle
and hope that you're able to, you know, stay afloat.
I do appreciate this great call, Mark, thanks so much
for listening to us today.
Speaker 5 (34:19):
My pressure. Thanks Hemory.
Speaker 1 (34:21):
Mike's on our phone line. He's next in line, and
it's four two, five, five, eight to eleven ten. Mike
here with Emery on news radio eleven ten.
Speaker 13 (34:28):
Kfab Hey, I've only got a couple issues and I
don't really need to.
Speaker 8 (34:33):
Talk about it.
Speaker 13 (34:34):
But the one thing that I have known several people,
I'm sure everybody has it dies before their fixties and
they get a death benefit sent out. And I don't
know if this is part of the social security, you know,
archaic thing, but they get a check for two hundred
(34:57):
and fifty dollars. And I don't know how much that
would add up to in the federal budget over a year.
It's millions. I'm sure it's probably in the billions. But
I mean, what does two hundred and fifty dollars do.
Speaker 4 (35:16):
In that situation.
Speaker 1 (35:17):
It's not much of anything, right, It's like one part
of one bill for one month, you know, like if
you're yeah.
Speaker 5 (35:23):
I mean nothing.
Speaker 13 (35:24):
It's not going to get your cremated or anything.
Speaker 4 (35:28):
Yeah. Yeah, it's not even a cell phone bier for
some people.
Speaker 13 (35:31):
The other thing that I would bring up is I
really like the idea of every child that's born gets
a thousand dollars put into an account. Now it needs
to be managed by some outside agency, probably, I don't
know if you know anything about ipers in Omaha or
(35:53):
in Iowa. They do an excellent job. They've got millions
or thousands, hundreds of thousands of people collecting that and
they have been able to keep that fun float for
you know, yeah, I don't know what see.
Speaker 7 (36:11):
Yeah, that's all.
Speaker 1 (36:12):
Yeah, that's interesting and I have heard of vipers. I
don't know exactly how it works and how it's different,
but I'll look into that because if you think it's
a it's a really good, you know, process that they have,
maybe that's kind of the way that we should look
into how we do it at the federal level too. Mike,
thanks so much for calling in, Man, We really appreciate it.
Speaker 13 (36:29):
Thank you well.
Speaker 1 (36:30):
I got good more calls coming in four oh two,
five five, eight eleven ten. If you'd like to be
a part of the conversation talk about retirement, your feelings
about retirement and for social Security. We will get to
your calls next. On news Radio eleven ten. Kfab and
raised on her phone number is four oh two five
five eight eleven ten. Four oh two five five eight
eleven ten. Kevin's on the line to continue the discussion. Kevin,
welcome to our show today. What's on your mind?
Speaker 14 (36:52):
Hey, how's it going? Emory? I just want to say
I appreciate to listen to you all the time on
the whale from work and love the show.
Speaker 4 (36:59):
Thanks Man, that means a lot.
Speaker 14 (37:01):
I uh, just two things real quick. I think our
retirements a good idea just from a mental health perspective.
You know, you spend all the time working and it
just there comes a time when you need a break
first of all, and then the second of all is
sold security. I think is a good idea in theory
that some people aren't just aren't going to invest that
extra money if you, you know, give an opportunity to
(37:23):
put in a different account and at least have something.
Speaker 4 (37:26):
That.
Speaker 14 (37:26):
Being said, I don't feel like I should be paying
taxes on it. Twice I get text on the front
end for my income tax, and then I get taxed
on it when I draw solid security when I'm retired finally,
so I think they need to do away with that
and do some sort of retool into the system to
make it more where you're either paying text on the
front of the back end like a four one K
(37:47):
or an IRA or something like that.
Speaker 1 (37:49):
Yeah, and that's one reason too, I think Kevin, when
this whole program was started, the whole roth IRA or
four to one K business really hadn't taken off yet
right where there were businesses that were kind of helping
you already save with your own money for the funds
that you know, you felt like you wanted to have
when you retired. Social Security is kind of a supplement
to that for a lot of people these days. But
(38:10):
that doesn't mean it's a good system or it's even
a you know, a useful system for a lot of people,
based on what you're talking about, and I think a
lot of that would be resolved if we just could
opt out, right, if like, if you have those tools
like a roth ira or a four A one K
at your disposal, does it make sense to be continuing
to put money into a government program that we feel
like we're getting shorted on anyway?
Speaker 4 (38:30):
I don't think so.
Speaker 1 (38:31):
But I think it's a really good, uh perspective on
an issue that I think so many people see differently.
Speaker 4 (38:36):
And I appreciate your call today.
Speaker 14 (38:38):
All right, thank you, I appreciate it.
Speaker 1 (38:39):
Yeah, no doubt if you uh if fur one k
roth ira. When when was the first time you thought
about that? Was it like right when you got your
first full time job? Because that's kind of what it
was like for me. It's like, hey, you're starting this
full time job, here are the things that you need
to know. And also if you want to have a
four oh one, K, here's this thing from fidelity or whatever,
(39:00):
like you know how you can start one. And I
was just like, oh, I didn't really know how this was,
how this worked. That was like the first time I
kind of had a grasp of of what it was.
Speaker 3 (39:11):
It's I mean, it's probably the first time I thought
of it. I I try not to think about it
these days. I just the conversation on retirement. For me,
I am in a bad financial spot right now, and
so I don't even want to think about retirement.
Speaker 4 (39:24):
And we got a long way to go. That's the thing.
Speaker 1 (39:26):
When the stock market was going with the ups and
the downs, with all the tariff talk, I was like,
I'm not even bothering to look at it, because you
know what, what's the point you and me are thirty
plus years away from even being able to talk about
getting that money. So it's like but still, you know,
it's important to you know, dig in, it's important to
can I fire away and think about the future. And
(39:47):
we just have way more tools at our fingertips than
we did when social security was kind of invented and
the concept came up for people who you know and
we talked about you know, like trust funds or you know,
a thousand dollars that can be put into a trust
for you know, Newborn's. You know, Trump's talked about ways
that that could you know, be a beneficial to you know,
a college fund or something like that. All that stuff
(40:09):
I think is quite interesting and useful. Had a bunch
of emails come in over the last hour about this,
and you can email me Emory at kfab dot com.
Marcus out West says, living out an egg country, most
farmers have no idea what retirement is on Social Security.
I'm curious if you guys were told similar stuff in school.
I was sold growing up in economy classes not to
rely on Social Security because it'll probably be gone by
(40:30):
my retirement age. And off topic. Put Matt on the spot.
What's his favorite guitar?
Speaker 3 (40:36):
Oh, my favorite guitar? Well, my favorite guitar is my guitar.
It's a it's a man. See now you put me
on the spot. That's what he said.
Speaker 4 (40:43):
He wanted to put you on the spot.
Speaker 3 (40:45):
Yeah, what is it's a Martin? Well, it's a Martin.
I'm blanket on the first name. I got to get
to the phone. It's it's a Martin. It's a beautiful
acoustic guitar. It's got a great tone, and it's over
twenty years old, and I love it.
Speaker 4 (40:53):
The pieces. All right, there you go, Marcus.
Speaker 1 (40:55):
As far as what he said, you know, I was
not told much about Social Security because I just didn't
really have a whole lot of grasp of what it
even meant in my economy classes.
Speaker 4 (41:05):
Didn't know.
Speaker 1 (41:06):
I guess I just kind of didn't didn't grasp really
the concept, and I don't really remember being told about it.
But again, even to this day and age, you know,
I'm in my early to mid thirties and I'm not
banking on it. I've been putting my own money in
as much of a you know, four oh one K
and just doing my own personal investments the best that
(41:28):
I can to this point. And I would just hope
that people my generation and younger and even maybe the
generation above me would think about it that way as well.
Maybe that will kind of create a bit of a
you know, market correction, if you will, on how reliant
we are on the government's programs, because our generations ahead
(41:50):
of us felt like it was so important to them
to you know, utilize the Social Security program and all
the changes that I went through over the first fifty
years that it was a thing, are the next forty
years that it's a thing, and there's still a ton
of confusion about it. Mick is on the line at
four o two five eleven ten. Welcome into the show, Mike,
what's on your mind?
Speaker 12 (42:09):
Hey a Marine, Thanks for taking my call. First of all,
I really enjoy your show.
Speaker 4 (42:13):
Thank you.
Speaker 12 (42:14):
I wanted to weigh in today a couple of things.
You know, you earlier you were talking about retirement, age
and stage maybe going up and so forth. And one
of the things that I wanted to comment on, if
you're lucky enough to be able to retire by the
time you're sixty five or whatever, you know, having to
go even longer to me is even though people are
(42:39):
living longer, my wife and I like to talk about
winning our go Go years. I'm sixty nine, and then
we know our slogo years are going coming, and then
our Nogo years, and so I also in the last
five years have seen a lot of you know, a
lot of changes that I hadn't experienced before physically. And
so the longer you wait, you may it into your
(43:00):
go go years, but you don't but.
Speaker 8 (43:02):
You're in a slow go moment.
Speaker 4 (43:03):
Yeah, yeah, that's one thing.
Speaker 1 (43:06):
Yeah for sure, Mick, and I've run out of time here,
and I do appreciate this, this this conversation, the way
that you brought this up. You kind of have to
look at your life and where you're at and playing
specifically for where you're at, because sixty nine for Mick
may not be the same for sixty nine for somebody else,
which isn't going to be the same sixty nine for
somebody else also, So have your own plan, talk to
your own advisors. This conversation is great. We'll keep it
(43:28):
going here on news radio eleven ten KFAB
I am in my early thirties or early to mid thirties.
I am also not close to retirement age. Not that
retirement isn't something that I'm sure we think about, just
kind of generally, like, Hey, do you want to invest
into a four to oh one k roth Ira or whatever.
This is why you should talk to your financial advisor.
Please do not take anything that we're about to talk
(00:22):
about for literal retirement advice. However, there is a person
I think that likes to give advice, and this is
somebody I like to actually listen to a lot. And
his name is Ben Shapiro. He's got a show called
The Ben Shapiro Show. He is on the Daily Wire.
He is a very smart person. He is incredibly intelligent.
He talks in a way that I think people who
(00:44):
disagree with him think that he's pompous and arrogant, But
I just think he's very sure of the way that
he thinks about things. And that's one of the reasons
why people do appreciate listening to him is because you know,
he makes them think, but also he gives really good
reasoning for what he thinks and why he thinks that. Now,
Ben's not close to retirement age either. But he his
(01:07):
job is you know, medius, so he's going to add
a lot of context to this. I want to preface this.
This is not a new clip. I'm about to play
a clip from his show from last March. This was
during the you know, kind of early stages. Trump and
Haley were still kind of going after it after each
other and the primaries and caucuses in the Republican Party.
(01:28):
But we assumed Trump was going to win, rightly, so
Joe Biden was still technically in the race. We hadn't
you know, gotten to that June debate that kind of
hold the curtain back that Okay, this guy's probably not
going to even make it to the election before the
Democrats pull him out of here. All that stuff. Right,
So this is from a year and like four months ago.
(01:49):
Keep that in mind. So this this conversation, But the
conversation itself, and the point he's about to make about retirement,
retirement age and our system and how it's set up
is a thinks still relevant today. So here's been Shapiro
from his show last March talking about retirement and let's
be real about this. It's insane that we haven't raised
the retirement age in the United States. It's totally crazy,
(02:10):
Joe Biden. If that were the case, Joe Biden should
not be running for president. Hey, Joe Biden is eighty
one years old.
Speaker 2 (02:15):
The retirement age in the United States at which you
start to receive Social Security and you are eligible for
Medicare is sixty five. Joe Biden has technically been eligible
for Social Security and Medicare for sixteen years, and you
would continue in office until he is eighty six, which
is nineteen years passed one, he would be eligible for retirement.
No one in the United States should be retiring at
sixty five years old. Franklin, I think retirement itself is
(02:35):
a stupid idea unless you have some sort of health problem.
Everybody that I know who is who is elderly, who
has retired is dead within five years. And if you
talk to people who are elderly and they lose their
purpose in life by losing their job and they stop working,
things go to hell in a handbasket real quick. But
put all of that aside, just on a fiscal level
and on a logical level. When Franklin Delano was Avelt
established sixty five is the retirement age the average life
(02:56):
expectancy in the United States was sixty three years old. Today,
the average life expectancy in the United States is close
to eighty. It's totally insane that you believe that you
should be able to work from the time that you
are essentially twenty to the time that you are sixty five,
which is a forty five year period. Pay in, and
then you'll receive Social Security benefits sufficient to support you
and your family, you and your wife whatever, for like
(03:17):
another twenty years. That's crazy talk. That is not fiscally sustainable.
The notion that if you have to raise the retirement
age to sixty seven or sixty eight, that everyone is
going to fall apart. My parents are that age. My
parents are not retired, and they shouldn't retire. It would
be very bad for them to retire. By the way,
it's disrespectful to people who are sixty seven, sixty eight,
sixty nine years old to suggest that they are in
the same shape as people who are sixty five were
in nineteen forty. It's not true at all. Have you
(03:40):
met a sixty five year old lately? Sixty five year
old are not old in the United States. They're not
sixty eight year olds are not old in the United
States again, Joe Biden thinks he's not old, and that
dude is running for president again, and that dude actually
is old and he's eighty one. I failed to see
how a country in which our entire leadership class is
eighty plus is telling you that we should have a
retirement age of sixty five.
Speaker 1 (03:58):
It makes no sense at all, all right, Shapiro. And again,
the reason this has been brought up is going viral again.
Fifteen million people have seen that clip that has just
been reposted this week from you know, a third party account,
just kind of starting a conversation, and a lot of
people are commenting on it in different ways. Matt, I
have to ask you, let's talk about the crux of
the conversation. Retirement itself a dumb idea. It's probably a
(04:22):
case by case basis, right. I mean, you and me,
if this is what we do for the rest of
our lives sitting behind a microphone, I mean, we work
with a guy on this radio station that I think
doesn't have any intention to retire anytime soon. And Gary Saddeleminer,
the guys is still still super sharp, right, and he
I don't know if he's even talked about it before, right,
I don't know if it's a stupid idea though, if
(04:42):
I'm like a concrete guy from a roofer all right, construction.
Speaker 3 (04:47):
Worker, Yeah, I mean that there's certainly holds to poke,
you know.
Speaker 1 (04:51):
And Bit Shapiro, for whatever it's worth, is sitting behind
a microphone for most of his jobs, So I mean
it might be a dumb idea for him.
Speaker 4 (04:57):
You just have to work the old new there.
Speaker 3 (05:00):
I think that certainly seems hyperbole, and maybe it's true
in his certain very specific circumstances that he's never met
anyone who's lasted longer than five years after they retired.
It's just objectively false for my lived experience, so I
haven't witnessed the same thing. But I do think that
(05:21):
an interesting conversation on staying uh, you know, with a
purposeful life even after you give up the day job
at a certain age. I think that there's a healthy
discussion about that for sure, right, Yeah, but I mean
that seems pretty silly. And also, yeah, don't we all
want that rainbow at the end of the of the journey.
(05:41):
You want that that ability to kind of you know,
jump out of the plane with a parachute that you
can float down with. I don't know what analogy I'm
going for here, but you know, I mean, yeah, retirement,
like the idea of getting the RV and seeing the
grandkids and being able to you know, live out your
listful end of life there that way. I mean, of course,
(06:02):
it's it's objectively appealing. I think that it's silly to
me to say that people shouldn't retire well. And also
I think we I think they appendage to that part
of the conversation. There's a lot of different little spokes
to the convo there that we can get into. But
I think the like what is the work that you're
(06:24):
doing is such an important aspect of it. I mean,
we're in our thirties, and I think you and me
both would like, you know, kind of little side hustles,
side gigs that kind of make us feel like life
gets a little spicy from time to time. We are
not of the same generation as you know, our parents
or their parents or their parents, you know, the last
three four generations, those people really committed to a career.
(06:48):
I mean my dad, I don't know.
Speaker 1 (06:49):
I can only talk to you about how like my
personal experience, my dad was doing jobs to make our
money for our family, and you know, I'm sure he
found a job. I think he's happy, you know, relatively speaking,
with the job that he does, and he's grateful for it.
But it wasn't the plan, right, Like he didn't wake
up when he was twenty years old, and it's just like,
(07:11):
I'm dedicating my life to this career, you know, and
we could try to do that. You can go to
school for it, but that doesn't mean that everything works
the way that it's supposed to. It doesn't mean that
everything is like hunky Dory all the time. It's all
sunshines and daisies. I don't know even though like how
I would be feeling as I would approach that, maybe
I'd like just see the finish line and want to
finish what I would be doing, But that doesn't mean right,
(07:32):
And we can get to the fiscal and the money
part of this, because I do think that he makes
an interesting point there, but I think that just in general,
mental health wise, I don't disagree that you need something
to do with your life, but that doesn't mean you
have to just have a traditional full time, forty hour
a week job to hold yourself over in some way.
Maybe some people do, certainly not everybody does. And you
(07:55):
can still stimulate your mind and your body by doing
other things, even on a part time basis, as a job,
or with hobbies, or with volunteer hours, or just in
general with your family. I think that there are ways
that you could do that without like deciding that I
have nothing to live for.
Speaker 3 (08:13):
I mean, can your quote unquote job be being an
amazing grandparent, you know, loving on and taking care of
your your grandkids, being active in your church.
Speaker 4 (08:23):
How couldn't it.
Speaker 3 (08:24):
I don't see why that can't be your quote unquote job.
I mean we all have different purpose, and that yeah.
Speaker 1 (08:30):
Find purpose almost anywhere with what you love, what you
care about, you know what I mean, You and your guitar,
you know, me and my birds and my wildlife, right.
I mean, like, if you gave me an opportunity just
to spend more time doing that, my brain would be happy.
I would I wouldn't decide to just like, oh I
better just die now because I have nothing to live for.
I just don't see that being like part of the
(08:52):
issue here. But easy for us to say behind a
microphone if you want to talk to us about this,
you can four h two five five eight eleven ten.
You can also email me Emory at kfab dot com.
We'll talk about the fiscal part of what his point was,
which I think is an interesting point coming up next
on news Radio eleven ten KFAB.
Speaker 4 (09:09):
Emrie's songer on news Radio eleven ten KFAB.
Speaker 1 (09:12):
Another point that he made here is the fiscal responsibility
of retirement and about social security and how that all works.
Speaker 4 (09:19):
And he makes an interesting point.
Speaker 1 (09:21):
Back when social security was first a thing, it was
first created, the uh, how do I best put this,
the retirement age actually was longer or older than the
average lifespan of the American mail, Right, So like, how
many people even on average were getting to that age
to be able to pull out whatever social Security was,
(09:42):
and then for how long probably wasn't even that long
on average when they got to that age. Fast forward
eighty ninety years. Here, all of a sudden, we're living
to eighty years old pretty regularly. And you know, the
last couple of generations are quite healthy.
Speaker 4 (09:57):
You have no reasonable eave.
Speaker 1 (09:58):
Millennials gen z Ors Jen Aalfha aren't going to also
be living much longer. And we're still getting the retirement
benefits from the government at the exact same point in time.
Speaker 5 (10:09):
Now.
Speaker 1 (10:09):
If you've been putting money in and you are within
a couple of years of retirement stuff, you don't want
this stuff to change. You have a game plan, you're
ready to go. If you're wanting retirement you want to
take those benefits out, or if you want to keep
working until you feel good about it and then retire
and then be able to collect some of those benefits
it's some supplemental income or you know, maybe they'll be
just a little bit, you know, you'll get a little
(10:30):
bit more out of that. You know, check that you're
receiving on a month to month basis. Then that's a
completely I think reasonable thing. And I don't want anybody
to think that that's what I'm in. Like, if you're
sixty one years old and you've been thinking the last
ten years kind of what the plan would be with
sixty five being the year that this could all start happening.
I don't want to be the guy that's like, oh, yeah, sorry,
(10:53):
you're going to live way longer than that, so we're
going to move the number on you. But we probably
for people in the future it does make sense to
move that age up to sixty eight to seventy to
seventy two. I don't know what the right number is,
but based on our life expectancy and how long people
are generally working now and how much things cost, and
(11:13):
that are governments like thirty seven trillion dollars in debt,
I don't see why that isn't a reasonable compromise in
some way to this particular topic.
Speaker 3 (11:23):
We can all agree. Can you imagine the evil oakie dok?
It would be to the sixty four year old who
is living in the year when this has changed to
like seventy five.
Speaker 1 (11:33):
Yeah, there's just no way, right, Like you would have
to say the cutoff for it would be like if
you're fifty five now or younger your age, if you're
between like fifty five and forty five or some I
wouldn't say.
Speaker 3 (11:44):
You instituted the year you institute it. It only goes
into effect for someone who's born in that year, right.
I mean you could be said that's crazy and it
only goes into effect and that's a long time years later, right,
It's a long time, right, But you know, do you
increment it?
Speaker 6 (11:57):
Right?
Speaker 1 (11:57):
So here's here's my proposal maybe like fifty to sixty. Like,
if you're fifty to fifty nine years old and your
birthday is in a certain amount of time in those
calendar years, your new retirement age is at sixty five
at sixty seven. If you're forty to forty nine, it's
not sixty five at sixty nine or seventy And if
you are under the age of forty, your new retirement
(12:18):
age is like seventy two or seventy three.
Speaker 3 (12:19):
Yeah, so you only get so people only have a
couple more years put on their tab kind of if
you're closer to that number and you're not like right,
like if you're sixty two.
Speaker 1 (12:29):
I don't want to be the guy that says, in
three years you can't retire because you've been going your
entire career thinking that was going to happen. But like,
if we can just create kind of like that ladder rule,
I think we could get to that spot, maybe even faster,
with also being respectful to how long people have operated
(12:51):
under an assumption of how the rules are going to be.
I don't want to be the guy that says that
those people that work really hard physical jobs can't retire
at sixty five though, because that I'm not doing that,
and I think that they do. If you want to
talk about retirement, your experience with retirement, callus at four
h two five to five, eight eleven ten News Radio
eleven ten KFAB. We love the people to not just listen,
but also to take part in the conversation. We're we're
(13:14):
talking about retirement. Yeah, we're talking about different things retirement related.
Played a clip from Ben Shapiro's show from last year.
So not sure how you know how he feels about
it in this moment, but there were a couple of
things first of all, that I think we can talk about.
First of all, retirement in and of itself, he says
it's just a bad idea. It's easy for him to
(13:34):
say he's got a lot of money, but also a
job that isn't super physically demanding and he's nowhere close
to retirement age himself. But also, I think it's really
interesting to talk about how people feel about retirement, because
I think everybody kind of has their own opinion on that.
Speaker 4 (13:50):
So that's what we want to talk about.
Speaker 1 (13:51):
We also want to talk about the fiscal responsibility of
the government needing to help us theoretically that doesn't mean
that they have to, but in the social security kind
of realm to help people when they get to a
certain age, to give them retirement benefits as they age,
something that we can talk about. Also, So, yeah, phone
lines are open and the emails open. First off, the
(14:13):
email Emory at kfab dot com, E M. E. R
Y at kfab dot com. And then we have the
phone lines open as well. At four oh two five
five eight eleven ten four h two five five eight
eleven ten. We have Joe on the phone line at
here on eleven ten Kfab. Hey Joe, thanks for being
on the show.
Speaker 7 (14:30):
You're ready, good afternoon.
Speaker 4 (14:32):
How's it going good.
Speaker 7 (14:34):
I just think your retirement has a lot to do
your age, with what you did for a living. And
when I say that, I was a fireman for twenty
eight years, and I can guarantee you I couldn't climb
a seventy foot area and at sixty five.
Speaker 4 (14:48):
Years old, sure for sure.
Speaker 7 (14:49):
So my body was worn out. And then so so
just a little kid that everybody does want it doesn't
fit everybody's yeah repertoire to retire at age seventy or
sixty five whatever.
Speaker 1 (15:05):
Yeah, it makes a lot of sense, Joe. There's no doubt.
There has to be some sort of scale of you know,
like physical jobs, and when the expected end of career,
at least in that line of work would be no, no,
no doubt. And it, to speak in generalities, it is
probably not a good thing.
Speaker 4 (15:24):
On this front either, dude. Oh, go ahead, go ahead.
Speaker 7 (15:27):
I hit the road at fifty and I had more
screws in both in me than Carter's got pills.
Speaker 1 (15:34):
I appreciate you for being a part of the show, Joe,
thanks for sharing your story with us today. Got Phil
on the phone line. He's called us at four oh two, five, five,
eight to eleven ten. Failure with Emory on eleven ten, kfab,
How you doing? Not too bad?
Speaker 6 (15:48):
Man?
Speaker 4 (15:48):
What about you?
Speaker 6 (15:49):
I'm doing good man. I'm sixty eight years old. I
started the full retirement age for my age bracket is
fifty six and a half. Okay, all right, you wait
till your seventy and a half. You get more money
from SO Security, you take take it as early as
sixty three and a half or whatever, and you get left.
Speaker 4 (16:04):
Okay.
Speaker 6 (16:05):
That's kind of sliding up. It needs to slide up more, though,
because so security. It's not sustainable. It isn't sustainable at all.
When this whole thing was started, there were like thirty
people paying into SO security for everyone on it, and
I think there's only like I think there's only two
pan in now for everyone on it. Plus you got
(16:25):
all these people out here that are getting SO security
disability that could be working. Ye, all right, there's no
reason they couldn't be sitting at home doing customer service
over the phone. No reason they couldn't do that even
in a wheelchair.
Speaker 7 (16:37):
Okay.
Speaker 6 (16:38):
Now, having said that, you know, it's a good thing
these farmers didn't retire at sixty five because we wouldn't
have anything to eat.
Speaker 4 (16:46):
Yeah, that's a good point.
Speaker 6 (16:47):
That's a good point because most of the farmers out there,
I think fifty five plus, yes, and I'd say probably
at least a third of them are sixty five and over.
Speaker 4 (16:56):
Yes, more than that.
Speaker 1 (16:57):
So what would be kind of your best scenario for
a system, Phil? You know, obviously the farming thing. Agricultures
are completely different, you know, kind of a realm that
we're gonna need to tackle, especially like you mentioned, and
I completely agree that we're getting less and less farmers
as the generations move forward. But what would be kind
of the right age you think in general? Or should
(17:19):
there be different age brackets based on what people do
as an occupation.
Speaker 6 (17:23):
You know, even even the fireman that you talk to,
he could do something, Okay, Yeah, I mean in all seriousness,
and you know, people probably wouldn't want to, but everybody
has this expectation you're gonna you're gonna retire and you're
gonna have plenty of money, and that's just not the
case in ninety percent of cases. All right.
Speaker 4 (17:43):
Yeah.
Speaker 6 (17:43):
And furthermore, you know, my mom she's been going for
like four months now. In the last two years of
her life, she had to go to the bathroom and
ahoy or basically a crane okay take her to the bathroom,
and a lot of that was basically, frankly, it was
her choice because she didn't want to do what it
took to stay mobile, all right, Okay, And I don't
(18:05):
want to go out like that.
Speaker 1 (18:07):
Yeah, I'm hearing that, Phil, And I don't think that
it hasn't been a discussion for me too, is you
know kind of like what quality of life could be
for somebody even as they enter kind of those those
you know, elderly years. But it's a good perspective on
your front. And you know, I'm really appreciative that you
call in and give us, you know, kind of how
you're seeing things. It's always appreciated, appreciated. So thanks for
(18:29):
calling us again and have a great day.
Speaker 6 (18:30):
Hey, I started working out like ten months ago, okay,
oh okay, And I can dead lift to seventy five
at sixty eight years old. That isn't too bad.
Speaker 4 (18:39):
No, it's more than I can deadlift.
Speaker 6 (18:40):
Not that it's not too bad, but so and I've
said this before, I've never been more optimistic in my
whole life about the future of the United States of
America as I am right now. And that's that. And
if I'm sitting on my couch getting fat, I'm not
going to be able to participate or to hell with
this great future that I see that we could have
(19:03):
in America.
Speaker 4 (19:04):
And so a.
Speaker 1 (19:04):
Powerful statement there, Phil, and it's an inspiring one as well.
I do appreciate you for being a part of the
show today.
Speaker 4 (19:10):
Wow.
Speaker 1 (19:11):
I mean yeah, by the way, two seventy five deadlifts
for anybody who's not quite familiar with what that number is.
I mean when I'm getting into like the one fifties,
one sixties. I start to feel like this is starting
to get unsafe for me. So shout out to Phil.
How about that sixty eight years old? Good for him? Douglas.
We'll take Douglas's call next. Douglas, thank you for being
on our show today. Welcome into eleven ten kfab.
Speaker 8 (19:32):
Oh hello, how are you doing there?
Speaker 5 (19:34):
Right?
Speaker 4 (19:35):
I'm good, sir.
Speaker 8 (19:35):
Here's what I got to say. Hey, so they've changed
this that they never changed the minimum age. Right, they
never changed sixty two. They changed it for everybody get
up to sixty seven. At the time, they probably should
have raised it to seventy two. But if you go
by the premise of when it was put in, the
retirement age would be seventy eight. Why do I say that,
(19:57):
because when Social Security started back in Roosevelt years, people
only live.
Speaker 5 (20:04):
To be sixty four. Yeah, right, average life.
Speaker 8 (20:07):
Now, the government never planned I'm paying ninety percent of
the people. They planned on paying ten percent of the people.
Sure if you look at what they did, well, you
know we want to live longer. I mean, I've worked,
I'm right twenty first, I'm eligible for Sold Security.
Speaker 5 (20:27):
I'll be sixty six and eight months.
Speaker 9 (20:29):
Okay, I'm twenty first.
Speaker 8 (20:30):
Okay, but here's the thing. I paid in from the
day I started working, and I've had at times two jobs,
so I've been paying into this and I never made
over the amount. So I've been paying into this for
since I was like sixteen, seventeen years old.
Speaker 1 (20:47):
So so, Douglas, what you're thinking is, you know, like
you don't want to see it pushed back even beyond that.
I get the whole seventy eight argument because that would
kind of more so align with what the original concept was,
you know, ninety years ago when they were thinking about this.
Speaker 8 (21:01):
Yeah, but for you and for us us, every time
they modify it, it makes it go down. Its sustainability
goes down. If they would have originally left it exactly
the way it was supposed to be and not added
all the other stuff when people died, where your kids
get money or this gets money or that gets money,
(21:21):
there's other programs for that. You should have never have
done that. In fact, in my dad's generation, he had
ten siblings, five of them did not make it to
forty Only five of them lived to be over seventy five.
And my dad right now, who is the fourth one born,
(21:42):
Kim and the baby. They only let ones left and
my dad's ninety one.
Speaker 4 (21:46):
Wow, that's crazy.
Speaker 8 (21:47):
Yeah, okay, and so half of his family didn't even
get to get it.
Speaker 4 (21:50):
Yeah. Well, and that's the thing.
Speaker 1 (21:52):
I think that you know Douglas more than anything, and
I do appreciate your perspective on this, but I think
that's the argument that a lot of people are making
is just it doesn't seem to be a fair process,
no matter how they set it up. And I do
appreciate the call today, Thanks for giving us one.
Speaker 4 (22:06):
I got to hit a break. This is good.
Speaker 1 (22:08):
I want to learn more about how people feel about retirement, age,
retirement in general, what that does for the mind, what
it does for the body. Also what your opinions are,
like Douglas had of you know, the social Security system
and whether it's fair, whether it's unfair, but also what
the process is for people and what we should be
doing as far as what age you could be pulling
from social Security.
Speaker 4 (22:30):
Would love to hear your experience.
Speaker 1 (22:32):
If that's you or you know somebody who is, call
me at four oh two five five eight eleven ten.
Speaker 4 (22:36):
Four h two five five eight eleven ten.
Speaker 1 (22:38):
We'll talk about this as long as we want here
on news radio eleven ten kfab and what he's doing here.
It's just about our opinions and how we feel about
certain things. So if you're trying to call in, just
wait until I get through some of these calls, and
then the phone lines will start opening back up and
you can get in line and we can chat with
you and we'll talk about this. I don't have anything booked,
so as long as we want to talk about it,
we can't. Jeff's on our phone line. Jeff, welcome to
our show today. What are you thinking of out on
(23:00):
this particular topic.
Speaker 9 (23:02):
The first thing, Emory is that most people that talk
about social Security don't understand the basic principle. I'm eighty
six years old. I started paying in when I was eleven,
and when I started paying in, I could buy a
Hamburger for twenty five cents. Now Hambergers are five dollars.
The thing is, everybody says that it won't last. They've
tinkered with social Security since day one. They use actuarial
(23:25):
tables all the time, so they when they figure out
when you're sixty two, if you draw early, you're only
going to draw so much if you're sixty six, don't
draw so much. If you wait till seventy two, there's
a bonus, but you aren't going to live as long.
They tinker and tinker and tinker. But the big fact
is it's not government money. It's your money, the people
that put in. If you don't put in, you can't
(23:47):
draw it out. That's the main thing. And people have
to understand that. People that are critical of it forget that.
Baseball players when I was a kid made thirty six
thousand dollars a year. Now they make eighteen million million
dollar minimum, but eighteen million tops. Yeah, they only get
charged social Security on the verse one hundred and eighty thousand.
Speaker 5 (24:07):
That could be tinkered with.
Speaker 9 (24:09):
There's all kinds of tankers, but you've got to remember
that it's not a government program. It's a government administrated
it's a separate budget. Money's in a separate account. They borrowed,
they lend the money to the federal government, but they
still social Security dollars.
Speaker 1 (24:24):
It's very interesting. Yeah, Jeff, that is a great perspective.
Thanks so much for listening and calling in today. Really
do appreciate that Grady is on our phone line at
four two five, five, eight to eleven ten Grady, Welcome
into eleven ten kfab.
Speaker 10 (24:36):
Hey, thanks Memory.
Speaker 5 (24:37):
Hey, just a few thoughts here.
Speaker 10 (24:39):
You know, you talk about planning for retirement. I think,
you know, figure out your hobbies, figure out what you
want to do so that you, you know, don't don't go
away five years after you retired.
Speaker 5 (24:49):
I think as it.
Speaker 10 (24:50):
Relates to, you know, your finances, people are more favvy.
They're they're into I raise, they're into you know, four
oh one k's, and you know they're saving better than ever,
you know, so things on social security, you know, I'd
like to see an option where you can opt out,
you know, if I don't want some security benefits or
I don't want to contribute, I want you know, those out.
Speaker 4 (25:09):
Yeah.
Speaker 10 (25:09):
And the other reason that people retire at sixty five,
A big reason is because of healthcare. And that's when
Medicare kicks in. And so if there's some waiting for
us to reallocate our maybe our social security dollars towards
our medicare, you know, maybe people who have invested wisely
or can retire early would, but a lot of people
hold on to sixty five because of those Medicare healthcare
(25:29):
benefits that really eat up your retirement.
Speaker 1 (25:32):
Yeah, this is a good point here about you know
what that age looks like in what may be your body,
and this is why it's case by case. But I
think that one of the important things that you just
kind of mentioned there is people are holding on for
different reasons, right, and what that looks like as you
move into you know, your sixties, your mid sixties, and
(25:54):
you're kinting down the months until you can actually start
to draw from that. I like the optional idea. If
there was a way that I could just keep my
money and know that I can just put that into
whatever four oh one K or roth Ira or whatever
my setup is, or I could kind of put it
into any sort of benefit that could end up being
like Medicare or Medicaid or whatever that could give me
(26:14):
the opportunity to have better benefits for my healthcare without
needing that supplemental retirement fund that Social Security is for
so so many people. So I'm intrigued if we could
write that down and try to figure out a way
to make that happen. I think a lot of people
would say, Yeah, that'd be great if that was optional.
Appreciate the call Grady. Thanks for listening to our show today.
Christy is on our phone line at four oh two
(26:36):
five five eight eleven ten, Christy, You're a Memory on
news radio eleven ten kfab Hello Emory.
Speaker 11 (26:42):
Hey, I'm so this was fortuitous that you had this
conversation today. So I'm going to put this in a nutshell.
My ex husband is sixty two. He lost its job
three months ago, has had plenty of time to work.
He's able bodied. By here's my big question. He the
(27:06):
Social Security office allowed him to take my sixteen year
old daughter without my knowledge into their office. He applied
for her social too, so now he's getting his and
her How is that legal? Because that you know, I'm sarry.
I'm boiling over at this point.
Speaker 1 (27:25):
So yeah, yeah, no, I don't really know, Christy. I
guess my thing would be like, do you have a lawyer?
Speaker 6 (27:34):
Uh?
Speaker 11 (27:34):
Yeah, I do.
Speaker 4 (27:35):
I would call that.
Speaker 1 (27:36):
I would call that person because it doesn't sound like
it was something that should be allowed. But I also
know from you know, my experience with some not my
personal family members, but a very close person to me,
their family kind of had an interesting situation and it
wasn't retirement or social security related, but it was like
child support related and the amount of stuff that was
(27:57):
just kind of allowed to go on just because one
person just wasn't asking the right questions or wasn't trying
to get it enforced. You know, that it just kind
of snowballed and became a much bigger problem than it
should have been because it wasn't nipped in the bud
like fast. So I would suggest a lawyer would probably
know exactly what is or isn't allowed, and then look
(28:17):
for the paperwork to be able to enforce whatever you need.
There would be my suggestion.
Speaker 11 (28:23):
Yeah, I appreciate that. And here's my other concern is
she's sixteen and she wants to start a job. Well,
now since he's you know, kind of wrecked up, she's
got to start all over again. Her social security has
been building since she was born. Yeah, well now she's
got to start all over again. So right, another question.
Speaker 1 (28:46):
For Yeah, Yeah, I would I would talk to your
lawyer on that one too, and see if there's some
way you can recoup those funds. And she's a you know,
if you didn't co sign on that, I just don't
know how that should be allowed. But you know, I
guess you know that's complicated.
Speaker 6 (29:01):
Christy.
Speaker 1 (29:01):
I wish I had better answers for you, but I
appreciate you calling in.
Speaker 11 (29:04):
This was perfect, So I wish everyone luck out there.
But be careful.
Speaker 12 (29:09):
Yeah, someone you're if you have.
Speaker 11 (29:12):
A minor child, don't let them try to pull this stunt.
Speaker 4 (29:16):
Yeah, for sure it won't work.
Speaker 1 (29:18):
Well, Christy, I appreciate you calling in and giving us
that story and maybe they'll give something people something to
think about a little bit here.
Speaker 4 (29:24):
Appreciate you for being part of the show.
Speaker 11 (29:25):
Okay, take care you too.
Speaker 1 (29:27):
We got more calls coming in. Four oh two five
five eight eleven ten is the number four oh two
five five eight eleven ten. We will continue this conversation
many emails as well about retirement. Do you feel like
retirement is something that is a bad concept, min Shapiro
and the clip that we played suggested that it was.
But if you think retirement is something that you want
to do, like I'm sure most of us do, what
(29:48):
should be kind of the parameters for social security, the
collection of social security and the way that you know
we have benefits when we achieve a certain age into retirement.
Call us at four h two five eleven ten, four
oh two five five eight eleven ten, News Radio eleven ten,
Kfab and Marnie. Let's get back into the phone lines.
Four oh two five five eight eleven ten. Four oh two,
(30:09):
five five eight eleven ten is the number. Mark is
on the line. He'll start us off this segment. Mark,
thank you so much for being a part of our
show today. What is going on today?
Speaker 5 (30:19):
Hi, Amory, my pleasure. So I actually wrote down some
things so I don't ramble on. Okay, So I think
people forget When FDR first put in Social Security, it
was in a protected trust which was not part of
the government expenditures, and it earned money in that trust.
(30:41):
Then in the mid sixties, the government Congress voted to
move it out of that trust into the general fund
because they were spending too much money. Yeah, and so
but they promised, oh, we'll pay it back. Well that
never happened, obviously. Sure, So this is one of the
big reasons why it's now running out of money. And
(31:04):
because they keep spending, they spend all that plus they
keep spending right. Yeah, So I've worked from fourteen to
sixty six. I paid into it, I was forced to
pay into Social Security and so I did that. But
the returns when you pay into Social Security as opposed
to your own if you invest it, are minimal. And
(31:27):
I think the idea of opting out is a decent idea.
The problem is you'd have to form it around a
whole new system to avoid basically screwing over all the
other people. That makes sense.
Speaker 1 (31:40):
Yeah, you'd have to like put like an age on it,
like you have to be a certain age or younger
to be able to opt out, because I mean, it's
going to be a complete jarring to the system one
way or the other. But like you said, will the
funds even be there? Will the government even care enough
to help out the people that are looking really closely
(32:01):
at you know, the end of the finish line to
get there, and we're hoped to take advantage of this
program that they were told that they could benefit from
as they got to retirement age. It just doesn't seem
fair that you've wait this entire time hoping to have this,
as you know, at least supplemental income as you get
into your late sixties and into your seventies, and then
(32:21):
all of a sudden, things are just you know, constantly
changing and you're not able to take full advantage of it.
I don't really know what the right answer is, Mark,
I don't know how we can do that, but I agree.
I think there needs to be some sort of overhaul,
especially to make it an optional system for people.
Speaker 12 (32:35):
Yep.
Speaker 5 (32:35):
And here's the other thing. I'm seventy two now. I
retired actually a few months before my sixty sixth birthday,
which is my fuller retirement age. But part of the
reason I did was and I was still working, but
I had what they call an aortic aneurysm dissection, and
that's basically what they call the widow maker no boy,
(32:57):
And they told me I was in the two since
that survived that because I had it at home. Normally
you bleed out within five minutes. And so I continue
to work, and then my company reorganized, and I asked
my wife. I said, well, so they're asking me if
I want to do this, And she said, you're four
(33:19):
months away from retirement. Why the hell would you even
consider that. Yeah, I've got fourteen grandkids and I'm fortunate
enough to have that. I'm blessed that I made enough money.
But here's the other thing, the last thing I'll say.
And then I'll get off the phone talking about planning
for retirement. Too many people spend more than they make,
(33:41):
and people don't distinguish between what do I want and
what do I need? And I was guilty of that,
but I started figuring that out fortunately early enough. But
there's so many people that you see these huge houses,
but I don't know how much what percentage of them
are knee deep in debt, but I'm it's a pretty
good size.
Speaker 12 (34:01):
Yeah.
Speaker 1 (34:01):
That's a good role too, Mark, is just you know,
managing what you have as income, even with the supplemental
income that Social Security could be giving you, plus whatever
you've saved. You can't just be living a lavish lifestyle
and hope that you're able to, you know, stay afloat.
I do appreciate this great call, Mark, thanks so much
for listening to us today.
Speaker 5 (34:19):
My pressure. Thanks Hemory.
Speaker 1 (34:21):
Mike's on our phone line. He's next in line, and
it's four two, five, five, eight to eleven ten. Mike
here with Emery on news radio eleven ten.
Speaker 13 (34:28):
Kfab Hey, I've only got a couple issues and I
don't really need to.
Speaker 8 (34:33):
Talk about it.
Speaker 13 (34:34):
But the one thing that I have known several people,
I'm sure everybody has it dies before their fixties and
they get a death benefit sent out. And I don't
know if this is part of the social security, you know,
archaic thing, but they get a check for two hundred
(34:57):
and fifty dollars. And I don't know how much that
would add up to in the federal budget over a year.
It's millions. I'm sure it's probably in the billions. But
I mean, what does two hundred and fifty dollars do.
Speaker 4 (35:16):
In that situation.
Speaker 1 (35:17):
It's not much of anything, right, It's like one part
of one bill for one month, you know, like if
you're yeah.
Speaker 5 (35:23):
I mean nothing.
Speaker 13 (35:24):
It's not going to get your cremated or anything.
Speaker 4 (35:28):
Yeah. Yeah, it's not even a cell phone bier for
some people.
Speaker 13 (35:31):
The other thing that I would bring up is I
really like the idea of every child that's born gets
a thousand dollars put into an account. Now it needs
to be managed by some outside agency, probably, I don't
know if you know anything about ipers in Omaha or
(35:53):
in Iowa. They do an excellent job. They've got millions
or thousands, hundreds of thousands of people collecting that and
they have been able to keep that fun float for
you know, yeah, I don't know what see.
Speaker 7 (36:11):
Yeah, that's all.
Speaker 1 (36:12):
Yeah, that's interesting and I have heard of vipers. I
don't know exactly how it works and how it's different,
but I'll look into that because if you think it's
a it's a really good, you know, process that they have,
maybe that's kind of the way that we should look
into how we do it at the federal level too. Mike,
thanks so much for calling in, Man, We really appreciate it.
Speaker 13 (36:29):
Thank you well.
Speaker 1 (36:30):
I got good more calls coming in four oh two,
five five, eight eleven ten. If you'd like to be
a part of the conversation talk about retirement, your feelings
about retirement and for social Security. We will get to
your calls next. On news Radio eleven ten. Kfab and
raised on her phone number is four oh two five
five eight eleven ten. Four oh two five five eight
eleven ten. Kevin's on the line to continue the discussion. Kevin,
welcome to our show today. What's on your mind?
Speaker 14 (36:52):
Hey, how's it going? Emory? I just want to say
I appreciate to listen to you all the time on
the whale from work and love the show.
Speaker 4 (36:59):
Thanks Man, that means a lot.
Speaker 14 (37:01):
I uh, just two things real quick. I think our
retirements a good idea just from a mental health perspective.
You know, you spend all the time working and it
just there comes a time when you need a break
first of all, and then the second of all is
sold security. I think is a good idea in theory
that some people aren't just aren't going to invest that
extra money if you, you know, give an opportunity to
(37:23):
put in a different account and at least have something.
Speaker 4 (37:26):
That.
Speaker 14 (37:26):
Being said, I don't feel like I should be paying
taxes on it. Twice I get text on the front
end for my income tax, and then I get taxed
on it when I draw solid security when I'm retired finally,
so I think they need to do away with that
and do some sort of retool into the system to
make it more where you're either paying text on the
front of the back end like a four one K
(37:47):
or an IRA or something like that.
Speaker 1 (37:49):
Yeah, and that's one reason too, I think Kevin, when
this whole program was started, the whole roth IRA or
four to one K business really hadn't taken off yet
right where there were businesses that were kind of helping
you already save with your own money for the funds
that you know, you felt like you wanted to have
when you retired. Social Security is kind of a supplement
to that for a lot of people these days. But
(38:10):
that doesn't mean it's a good system or it's even
a you know, a useful system for a lot of people,
based on what you're talking about, and I think a
lot of that would be resolved if we just could
opt out, right, if like, if you have those tools
like a roth ira or a four A one K
at your disposal, does it make sense to be continuing
to put money into a government program that we feel
like we're getting shorted on anyway?
Speaker 4 (38:30):
I don't think so.
Speaker 1 (38:31):
But I think it's a really good, uh perspective on
an issue that I think so many people see differently.
Speaker 4 (38:36):
And I appreciate your call today.
Speaker 14 (38:38):
All right, thank you, I appreciate it.
Speaker 1 (38:39):
Yeah, no doubt if you uh if fur one k
roth ira. When when was the first time you thought
about that? Was it like right when you got your
first full time job? Because that's kind of what it
was like for me. It's like, hey, you're starting this
full time job, here are the things that you need
to know. And also if you want to have a
four oh one, K, here's this thing from fidelity or whatever,
(39:00):
like you know how you can start one. And I
was just like, oh, I didn't really know how this was,
how this worked. That was like the first time I
kind of had a grasp of of what it was.
Speaker 3 (39:11):
It's I mean, it's probably the first time I thought
of it. I I try not to think about it
these days. I just the conversation on retirement. For me,
I am in a bad financial spot right now, and
so I don't even want to think about retirement.
Speaker 4 (39:24):
And we got a long way to go. That's the thing.
Speaker 1 (39:26):
When the stock market was going with the ups and
the downs, with all the tariff talk, I was like,
I'm not even bothering to look at it, because you
know what, what's the point you and me are thirty
plus years away from even being able to talk about
getting that money. So it's like but still, you know,
it's important to you know, dig in, it's important to
can I fire away and think about the future. And
(39:47):
we just have way more tools at our fingertips than
we did when social security was kind of invented and
the concept came up for people who you know and
we talked about you know, like trust funds or you know,
a thousand dollars that can be put into a trust
for you know, Newborn's. You know, Trump's talked about ways
that that could you know, be a beneficial to you know,
a college fund or something like that. All that stuff
(40:09):
I think is quite interesting and useful. Had a bunch
of emails come in over the last hour about this,
and you can email me Emory at kfab dot com.
Marcus out West says, living out an egg country, most
farmers have no idea what retirement is on Social Security.
I'm curious if you guys were told similar stuff in school.
I was sold growing up in economy classes not to
rely on Social Security because it'll probably be gone by
(40:30):
my retirement age. And off topic. Put Matt on the spot.
What's his favorite guitar?
Speaker 3 (40:36):
Oh, my favorite guitar? Well, my favorite guitar is my guitar.
It's a it's a man. See now you put me
on the spot. That's what he said.
Speaker 4 (40:43):
He wanted to put you on the spot.
Speaker 3 (40:45):
Yeah, what is it's a Martin? Well, it's a Martin.
I'm blanket on the first name. I got to get
to the phone. It's it's a Martin. It's a beautiful
acoustic guitar. It's got a great tone, and it's over
twenty years old, and I love it.
Speaker 4 (40:53):
The pieces. All right, there you go, Marcus.
Speaker 1 (40:55):
As far as what he said, you know, I was
not told much about Social Security because I just didn't
really have a whole lot of grasp of what it
even meant in my economy classes.
Speaker 4 (41:05):
Didn't know.
Speaker 1 (41:06):
I guess I just kind of didn't didn't grasp really
the concept, and I don't really remember being told about it.
But again, even to this day and age, you know,
I'm in my early to mid thirties and I'm not
banking on it. I've been putting my own money in
as much of a you know, four oh one K
and just doing my own personal investments the best that
(41:28):
I can to this point. And I would just hope
that people my generation and younger and even maybe the
generation above me would think about it that way as well.
Maybe that will kind of create a bit of a
you know, market correction, if you will, on how reliant
we are on the government's programs, because our generations ahead
(41:50):
of us felt like it was so important to them
to you know, utilize the Social Security program and all
the changes that I went through over the first fifty
years that it was a thing, are the next forty
years that it's a thing, and there's still a ton
of confusion about it. Mick is on the line at
four o two five eleven ten. Welcome into the show, Mike,
what's on your mind?
Speaker 12 (42:09):
Hey a Marine, Thanks for taking my call. First of all,
I really enjoy your show.
Speaker 4 (42:13):
Thank you.
Speaker 12 (42:14):
I wanted to weigh in today a couple of things.
You know, you earlier you were talking about retirement, age
and stage maybe going up and so forth. And one
of the things that I wanted to comment on, if
you're lucky enough to be able to retire by the
time you're sixty five or whatever, you know, having to
go even longer to me is even though people are
(42:39):
living longer, my wife and I like to talk about
winning our go Go years. I'm sixty nine, and then
we know our slogo years are going coming, and then
our Nogo years, and so I also in the last
five years have seen a lot of you know, a
lot of changes that I hadn't experienced before physically. And
so the longer you wait, you may it into your
(43:00):
go go years, but you don't but.
Speaker 8 (43:02):
You're in a slow go moment.
Speaker 4 (43:03):
Yeah, yeah, that's one thing.
Speaker 1 (43:06):
Yeah for sure, Mick, and I've run out of time here,
and I do appreciate this, this this conversation, the way
that you brought this up. You kind of have to
look at your life and where you're at and playing
specifically for where you're at, because sixty nine for Mick
may not be the same for sixty nine for somebody else,
which isn't going to be the same sixty nine for
somebody else also, So have your own plan, talk to
your own advisors. This conversation is great. We'll keep it
(43:28):
going here on news radio eleven ten KFAB
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