2007-09-05 12:56:37 · 5 answers · asked by Martin L 5 in Business & Finance ➔ Personal Finance
Steven F, I do understand how the program works; hence the question. The term "your social security benefits" comes straight from their literature. I have my benefits summary in my hand now and it uses the term.
2007-09-06 04:12:35 · update #1
Doubt it. Unless some complete overhaul is done in the next 10-15 years. I contribute as much as I possibley can to my 401k and IRAs because I seriously doubt the system will get overhauled, it will just be done with when politicians realize it is to late to fix.
2007-09-05 16:13:02 · answer #1 · answered by Jenn N Kentucky 4 · 2⤊ 0⤋
You had better demand it because it is your money you put in for yourself. You may have to live to be 100 before they give you a dime though. It's not so much the under 40 crowd has to worry, because the next generation lower will be much bigger enough to support it. It is the Baby Boomers, over 43 crowd, that has a small generation supporting this system with a larger retirment crowd.
2007-09-05 13:50:12 · answer #2 · answered by ? 5 · 1⤊ 2⤋
Unlikely that nothing will be left for all the sub 40-year-olds. Chances are that SS taxes will be raised for the wealthy wage-earners and benefits will be cut for the wealthy retired.
2007-09-05 14:33:03 · answer #3 · answered by astatine 5 · 0⤊ 1⤋
The term "your social security" indicates you don't understand how the program works. There is no such thing as 'your social security'. ANYONE counting on social security should buy the book "72 ways to prepare Alpo and love it." Actually, I stole the name of the fictitious book, but you get the point.
2007-09-05 14:34:46 · answer #4 · answered by STEVEN F 7 · 0⤊ 3⤋
I'm now 36. I used to say a renounding no. But now I think there is an extremely small chance that I may.
2007-09-05 13:42:39 · answer #5 · answered by shoredude2 7 · 2⤊ 1⤋