Anyone receiving Social Security?

Question

You're welcome! I pay all of this money into social security and it won't even be there when I'm old enough to use it!

Answer 1

Not to worry it will be there or there will be a revolution of grey haired people versus the government. Do not worry.

Answer 2

Call it what it will become: wlefare for old people.

So many people (including politicians) talk about the social security surplus and how the system is solvent until something like 2040. However, to me, the critical point in when the system starts paying out in benefits more per year than it collects in social security taxes. And that point is something like 2015. The system is solvent to 2040 if you take into account the IOUs that the government wrote to social security. But to make good on those IOUs, the government will need to raise revenues which will mean more taxes. Its not like the social security surplus was invested in precious metals or marketable securities which could be liquidated to pay benefits. But the government spends the social security surplus every year and issues government bonds to back it up.

At some point, I suspect we will see a generational war. There needs to be some type of compromise to keep the system going. And that will probably be a mix of higher taxes and lower benefits (either in terms of $$s paid or delayed retirerment age or both). And from what I have seen, I am not confident that either side will want much to compromise.

Worst aspect of the situation is that everyone has know the situation is coming for a long time. Yet everyone puts it off because as soon as you talk about social security as a politician (other than to say you are keeping it the exact same), you lose the election. So we delay and delay in dealing with it. But each year we wait, the solution becomes more painful. But most people have little interest in long term view so we will wait until it is a huge crisis.

Answer 3

I am on the receiving end of Social Security, but I am still working so I still pay as well. For awhile I worked for the Government and oddly enough they don't use social security, they did , however take out a retirement amount, which I received in full when I quit.
Social Security has been abused. So much money had built up over the years that the Government had other plans for some of it and took some of the funds. I believe it will still be there in years to come, but in a much reduced fashion. Take it from me, even if it stays like it is, you will not have enough to retire on when you get to retirement age. Get with a reputable insurance agency and start now, saving for retirement. It will be here before you know it.

Answer 4

Yes, I am on Social Security and I am using the money I have put into Social Security for over 30 years. It is not yours or anyone else's money.
After I few years of working, you will receive a Social Security Benefit document. This will state how much money is in your Social Security, how many credits you have, and how much money you will receive when you retire. This will also state if you have enough credits in to retire.
We all paid our hard earned money into the Social Security and the government is spending it as fast as they can. This is why the younger generation is not going to have their own money. It is not the fault of us older generation.
I hope I explained this misunderstanding about the Social Security Benefits. If not, you can get a booklet about the benefits at your nearest Social Security office.

Answer 5

you no what, u r not the only one so why don't u just suck it up! helping your fellow man is something we all need to do more of. be happy that u r here in the u.s. instead of a third world country, where u may not even eat today!

Answer 6

it will be there. don't worry. the government ain't going nowhere(remember, one day YOU TOO WILL BE OLD ~~ and will need the money). in the meantime, work like you are SUPPOSE to work, and put into YOUR FUTURE earnings.

Answer 7

specific, touch the ss workplace yet from my very own kinfolk historic past i will fairly say it would not seem to good for her to collect till she herself is sixty 5 or disabled. you may assemble widows money after age sixty 5 or in the event that they are disabled as my mom grew to become into. My mom grew to become into fifty 5 whilst her 40 3 3 hundred and sixty 5 days previous husband died leaving her with 2 little ones under the an prolonged time of 13. the only reason my mom accumulated from his ss grew to become into that she herself had breast maximum cancers, severe blood stress and diabetes, 3 killer ailments at as quickly as. If she wasn't unwell herself then she might of had to attend till she grew to become sixty 5 to collect from ss. the little ones have been in elementary terms in a position to collect till age 18 from their fathers ss. unhappy to assert in spite of the incontrovertible fact that it sounds as though like possibly the domicile will might desire to pass to sale. desire it works out yet there have been many differences to ss whilst Regan grew to become into president. was once that youngsters ought to gather on their lifeless mothers and fathers ss till age 21 yet Regan replaced it to 18 till they are at school.Then it is going lower back to age 21. You MIL can in elementary terms assemble whilst she turns sixty 5, then it fairly is 0.5 of what her husband might of accumulated, something is out of her very own ss account. With all the valuables and such it particularly is ideal to talk to a attorney. The ss dept. would not supply out criminal suggestion, in simple terms the information of ss. they are actually not commonly lots help different then repeating what's their written rules. The ss dept. would not care approximately your charges or you dropping your sources, journey with my mom's complicated subject.

Answer 8

it will all be gone used up, SS will be privatized and no more benefits.
hahaha face it thats the direction we are headed in

Answer 9

i pay a third of my check and i am alot older than you

Answer 10

Nope, i'm paying too.