How to maximize Social Security benefits

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One response to “How to maximize Social Security benefits”

1. 

   May 12, 2018

   BC Shelby

   …ideal, but not always possible.

   First savings. if you worked long in a decent paying occupation that allowed for a reasonable amount of discretionary income, then yes you would be foolish not to put money away for retirement. If on the other hand you worked long years in a job that was low paying to where you were living paycheque to paycheque, deferring and juggling bills each month just to survive (such as was my situation) , not a possibility. Since the decline of organised labour that began in the 1980s, wages for many blue collar (non college degree) jobs stagnated or increased very little to keep pace with costs. New clauses such as At Will employment and more recently “Right To Work” laws, helped transferred more power upwards from the employees to management. Depending on the company and/or its management, asking for a raise or a better working situation could be construed that you didn’t like your job and they would come back saying they could hire someone else to do it (which was the case where I worked). Basically it fostered a style of managing employees out of fear. For many of us the recession didn’t help either as it wiped out what little savings people did have to make it when UI was cut off while millions were still out of work looking.

   Next, working later in life. Again, nice ideal, but unless you are in an occupation that is in high demand this has been made difficult by the rising practise of ageism in hiring and retention. The worst area for ageism is one where seen to be where future job growth is, the tech sector. In many tech industries people are considered “over the hill” when they reach 40 – 45. This is also an area where many jobs are outsourced outside the country or have been turned into limited term contract positions. Many of these positions also require a degree, so if you don’t already have one there is the expense (usually in debt) of that. As we grow older our bodies no longer can do what they used to, so many occupations with demanding physical requirements are out. So what is left? Walmart? McDonalds? Amazon? Call centres? Consumer electronics companies like Foxconn? (all which usually pay low wages, offer few benefits, and often try to squeeze as much out of their workforce as they can for as little cost as they can).

   Another specter waiting in the wings is automation which will first begin replacing people in many of those routine unskilled and even semi-skilled occupations above. What is one to do if there are more people looking for work just to “get by” on for a few more years as those opportunities decline? What will employers do, what basis will they use in deciding who to hire and who not to? I fear ageism will become worse as automation expands since it is so easy to get around it with a few simple words like “you’re overqualified” or “not a good fit” without making it sound like they are turning you down because of your age (which they are). Where does the money come for lawyers and court fees if you attempt to file a discrimination case (which can take long to pursue, is stressful, and possibly could result in a denial)? Also if you did win, would you feel comfortable walking into a workplace where the owner or management just paid a judgement as well as for their attorneys to keep you from being there? I certainly wouldn’t.

   So again, if you come form the poor side of the economic tracks, taking what you can get is better than nothing and being on the street.

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