Likes: 8
Thanks: 0
Your Money and Social Security
THIS IS SURE SOMETHING TO THINK ABOUT!!!!THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE SOCIAL SECURITY IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED A SOCIAL SECURITY CHECK!!! WHERE DID THAT MONEY GO?
Remember, not only did you and I contribute to Social Security but your employer did, too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that's close to $220,500.
Read that again.
Did you see where the Government paid in one single penny?
We are talking about the money you and your employer put in a Government bank to insure you and I that we would have a retirement check from the money we put in, not the Government.
Now they are calling the money we put in an entitlement when we reach the age to take it back.
If you calculate the future invested value of $4,500 per year (yours & your employer's contribution) at a simple 5% interest (less than what the Government pays on the money that it borrows), after 49 years of working you'd have $892,919.98.
If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!
If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.
I worked all my life and am drawing 100% on my own social security). Their S.S. money will never have one cent drawn from what they paid into S.S.
all their lives.
[CENTER][CENTER]THE FOLKS IN WASHINGTON HAVE PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADOFF EVER DID.[/QUOTE]
[CENTER]I'm in the 1% --I just did.[/LEFT][/LEFT][INDENT]The government gives nothing to anyone that it has not taken from someone else.
2013 Tri-Glide with a few extras
Vietnam Vet 66 / 67
CQ CQ DE KD4LZL
Member Patriot Guard Riders
If you lend someone $20 and never see that person again, it was probably worth it.
Re: Your Money and Social Security
Re: Your Money and Social Security
Aman brother.
Re: Your Money and Social Security
Yes sir, Sully, the Government screws us every chance they get. Guess what, we pay them to screw us.
Re: Your Money and Social Security
Kind of like paying for the frustration you get when you golf or bowl ... except without the payoff!Originally Posted by bikerbillone
Re: Your Money and Social Security
The guv'ment has a master key to ALL locked boxes
"The difference between genius and stupidity is that genius has its limits". Albert Einstein
Re: Your Money and Social Security
I didn't think about SS much until I began to get grey hair and contemplate my retirement, then was told there may not be money there for me when I retire or it may be a reduced amount. I have the solution....quit giving it to able bodied deadbeats who have never paid in a penny in their lives but are able to work and won't. Then there will be enough for me.
Soapbox mode off
2020 Triglide MidnightBlue/Barracuda Silver
Just beginning our ride together
Re: Your Money and Social Security
Here's another SS policy that irks me. When I die my spouse gets a "Survivor Benefit" rate of one half of what I was drawing. So figure that out, the household income from SS with the both of us drawing is X amount ,hers is just a bit less than half of mine. I die and hers goes up to half of what I was drawing, but, mine goes away completely. Monthly SS household income for her just went down to just over 1/3 of what is was when I was alive. The household expenses didn't go down by 2/3 after I die which really places a burden on the her to make ends meet potentially. <br />
<br />
All the more reason we made a point of planning ahead not relying on SS for a way to survive.
Re: Your Money and Social Security
Sully, If you want to run for president I'll vote for you!
Re: Your Money and Social Security
SS Was never meant to live on. It was to supplement what you should have been saving...
Sometimes a Cigar is Just a Cigar.....
2019 Tri-Glide.......
Re: Your Money and Social Security
That's exactly right but it's unbelievable how many people that I see that don't have anything else for income.
Re: Your Money and Social Security
That's right and those are the same people that expect someone else to take care of them... Think tax payer...
Just to add before someone jumps on me' I would be the first one to help if they really needed it, But there are too many people who will spend all their money today and let someone else worry about it tomorrow ...
Sometimes a Cigar is Just a Cigar.....
2019 Tri-Glide.......
Re: Your Money and Social Security
Many of those people that only have SS to live on are also the ones you'll see spending what little they do have playing the lottery. Can't figure that out.
PC
Beware of liberals posing as Americans.
Re: Your Money and Social Security
If my memory is correct and I can't say for sure it is. I believe Lyndon B. Johnson was the first president to put his hands into SS and that was to fund the Vietnam snafu. Politicians have had their hand in the till ever since.
And yes they have tried to make it sound like they are doing us a favor by returning what we paid into it. I am not sure if I am a head or not of what I put in. I am just glad to still be alive to keep doing it.
Re: Your Money and Social Security
I quit working the day I turned 61. I live off SS and my savings. If SS were to be discontinued tomorrow, I would not be happy, but I would survive.
What? Nobody looked ahead and saved? Awwwww
Re: Your Money and Social Security
Don't forget when SS was first enacted you could only collect when you reach 65 years of age, Back then most people were only expected live and only collect for another 2 or 3 years, So All you old guys trying to live forever are breaking the system..
I don't blame anyone for that, I'm also trying to live as long as I can too, But I'm
not going to kill myself trying...
Sometimes a Cigar is Just a Cigar.....
2019 Tri-Glide.......
Re: Your Money and Social Security
Re: Your Money and Social Security
Now, if everyone voted for Bozo The Clown for president in the 60's, all problems would be fixed.
Re: Your Money and Social Security
Uhhh, I think a lot did .... and he won!!!!
Posting Permissions
