social security fail , benefit or right?

DUM1 · August 31, 2021, 03:50 PM

https://www.marketwatch.com/story/social-security-to-become-unable-to-pay-full-benefits-sooner-than-previously-estimated-11630436444?siteid=yhoof2">https://www.marketwatch.com/story/socia ... eid=yhoof2">https://www.marketwatch.com/story/social-security-to-become-unable-to-pay-full-benefits-sooner-than-previously-estimated-11630436444?siteid=yhoof2

since we are all paying into it .
Is it our right to expect it to be paid back or is it only for those who didn't or couldn't save enough to " get by " when they retire ?

since the government can just print money at will for whatever they please shouldn't they be able to repay the SS money they took back in the eighty's
with interest ,,,Ronald?

Del. · August 31, 2021, 04:25 PM

Social Security is fully funded.

gcode · August 31, 2021, 05:55 PM

Quote from: Del. post_id=15217 time=1630452328 user_id=113Social Security is fully funded.

Till 2034

RobertELee · August 31, 2021, 08:05 PM

I would rather be able to divert the money I put into SS and put it into my own savings plan. If .gov needs proof that I invested it then so be it.

JParis · September 01, 2021, 03:08 AM

Quote from: RobertELee post_id=15223 time=1630465527 user_id=55I would rather be able to divert the money I put into SS and put it into my own savings plan. If .gov needs proof that I invested it then so be it.

That's non-option......

I'd have done it years ago too but now, only 9 years away, not enough time to grow something feasible from scratch

HTM01 · September 01, 2021, 03:34 AM

the problem there is most people wouldn't save anything just like they do now,

the best advise my father ever gave me was save as much as you can as soon as you can for retirement
and i plan on retiring at the end of the year at 61

pmartin · September 01, 2021, 05:10 AM

Quote from: HTM01 post_id=15226 time=1630492486 user_id=76the problem there is most people wouldn't save anything just like they do now,

the best advise my father ever gave me was save as much as you can as soon as you can for retirement
and i plan on retiring at the end of the year at 61

61? Good for you. :_thumbup:

RobertELee · September 01, 2021, 06:09 AM

Quote from: JParis post_id=15225 time=1630490900 user_id=139
Quote from: RobertELee post_id=15223 time=1630465527 user_id=55I would rather be able to divert the money I put into SS and put it into my own savings plan. If .gov needs proof that I invested it then so be it.

That's non-option......

I'd have done it years ago too but now, only 9 years away, not enough time to grow something feasible from scratch

I get that it's not an option now, I was just saying it should be an option. We can't trust the government with much, unless you're in the party wanting to bend over for our enemies, make American businesses hurt, and worry about a 3 year olds gender pronouns.

DUM1 · September 01, 2021, 06:12 AM

Quote from: HTM01 post_id=15226 time=1630492486 user_id=76retiring at the end of the year at 61

that's awesome !

I still have ten years of being ripped off paying for something I wont be able get , it sounds like .
360 a month x 12 x 10 43200 which is at my current rate so , that sucks .

did the guv ever pay back the SS money they took ?

Del. · September 01, 2021, 11:07 AM

They kind of screwed me on my SS. I signed up a couple months before I turned 62. I then decided to work 1 more year. They just kind of froze it. I retired at first of year at age 62 and 11 months. They pay me the rate for age 62. Even after calculating my last year of wages it only went up $2. I was told they won't recalculate until I reach full retirement age and even then I have to wait one more year to start receiving it. It's stupid. I should have just canceled it and signed up again. I'll get you t back if I live long enough.

HTM01 · September 01, 2021, 11:28 AM

Quote from: Del. post_id=15261 time=1630519623 user_id=113They kind of screwed me on my SS. I signed up a couple months before I turned 62. I then decided to work 1 more year. They just kind of froze it. I retired at first of year at age 62 and 11 months. They pay me the rate for age 62. Even after calculating my last year of wages it only went up $2. I was told they won't recalculate until I reach full retirement age and even then I have to wait one more year to start receiving it. It's stupid. I should have just canceled it and signed up again. I'll get you t back if I live long enough.

sounds like you got screwed
i'm debating between 62 and 63 only $125/month different

gcode · September 01, 2021, 11:35 AM

Quote from: HTM01 post_id=15264 time=1630520891 user_id=76I retired at first of year at age 62 and 11 months. They pay me the rate for age 62.

yes.. I checked mine last night
The payment they show is defined by the age of 66, even though I will be 67 in 2 weeks
I'll check it on my birthday and see if it's gone up
I think it will go up 8%

Del. · September 01, 2021, 11:46 AM

I'm still working part time but can only make $18,960

CNCAppsJames · September 01, 2021, 11:52 AM

There are A LOT of factors to consider when making the decision to defer or not. It's not always best to defer, and it's not always best to take it as soon as you can. It's best to seek the advise of a financial planner.

Life expectancy, current income/earnings, anticipated spousal support after you pass away, etc... all are important factors to consider and play into it making send to wait or not.

JM2CFWIW

Del. · September 01, 2021, 11:54 AM

James I meant thumb up