Do you view Social Security as being much security? Do you think it will be around when you retire?

Question

I am 70 and thankful I don't have to depend solely on SS to live.

Answer 1

No national retirement system is something that a person can depend on to provide an old age with any degree of comfort and independence, and the Social Security system is no different. It was never intended to totally replace saving and planning for ones retirement. It was never intended to replace family and church. However, the US Social Security system appears to be in really bad condition. Unless something turns around, it isn't even going to be able to provide medical insurance and basic necessities for the elderly. I have duel US/British citizenship, but the US is my home now and I plan on staying here. I am certainly not going to depend on it being around when I retire.

Answer 2

No, I do not view Social Security as being worth much in the way of depending on it to finance my retirement. It may still be around when I retire but the dollar value will be about enough to buy groceries if I'm lucky! But I sure pay enough into it!
At 45, I am single with 4 children and the youngest is 9. I have no savings so my "retirement" will happen when I win the lottery!

Answer 3

Social Security is intended to help people with expenses that come later in life that cannot be taken care of because you can't work. This however is not meant to serve as a "paycheck" for those who didn't prepare for the later years. Having investments (a house that is paid for, 401(k), and other things) are the necessities, not something you should do for extra. Social Security should be the extra, that helps you when your car breaks down, or if you need to upgrade your home for whatever reason.

Unless our congress and president can work together soon, I do not believe it will be around when I retire (I'm young, 23). I also don't feel that a democrat agenda will fix this. This is one thing, that I would personally have the republicans fix. Social Securities big problem is that congress borrows from those funds with no intention to pay them back. Personal accounts that lend "ownership" to the person recieving the benefits can be legislated to leave that money off the table. This would encourage responsible spending in congress, and ensure that proper fixes are made to situations, versus the spagetti technique. (throwing it at the wall until something sticks, or in congress, it's throwing money at it until it's fixed).

For instance, look at education, the more money they throw at it the more disappointing the results. Time to rethink the strategy boys!

I keep my fingers crossed.

Answer 4

I do not consider SS as being any type of valid security. I am definitely not "banking" on it to be of any help to me when I retire.

I have great sympathy for all who have to rely on their SS checks alone to live on. It is a disgrace when someone works hard all their lives and pays their dues to the government only to receive way too little to enjoy their "golden years." I think this so- called "security" is a joke!!

Answer 5

Everyone says it won't be around but that doesn't mean they're going to sit back and let lawmakers legislate it away. You can bet that things will get ugly when people who have gone without fifteen percent of their pay find out that legislators don't want them to get any of that money back. And yes, I think depending solely on SS for retirement is asking for trouble.

Answer 6

Yeah, feel sorry for the people that do! My mother is on SS and the government expects her to live on $650 a MONTH! This is beyond poverty to me and it is so rediculous. She used to get around $900 at least when Clinton was in office. But it is no security at all! I am happy that's not all you have to depend in. I make around 2,500 every two weeks. Thank god I am stable enough to take care of my mother.

Answer 7

It is really not much security, even though I am really close to retirement. But hubby and I are not depending on it to see us through. We have been investing and saving for quite a while now and thank God that barring any major disasters, we should be OK.

Answer 8

I'm 31 and am in no way depending on social security I think the whole system is going to collapse if politicians don't pull their heads out of their a**

Answer 9

I really don't believe that they give you enough to live on let alone comfortably. And if things keep going the way that they are with our country, I hardly doubt that there will be any kind of financial aid when I get around to retiring. Which will be a long time from now... I hope.

Answer 10

I am 25 and I do not believe it will be around when I retire at all I thankfully I am set up to where I hopefully won't have to depend on it at all