Social Security

[Johnny Dangerr]

Congrats. Unfortunately I fear I'm paying into a system that I'll never collect from I'm exactly 30 years from full retirement age (currently) and don't see it being there...or Congress will find a way to exempt folks like me who have saved for my own retirement.

Rush Limbaugh's father tried for years to give it back. Folks with deep pockets do not need the 5% raise to their income.
When I was 30 I was sure I would never cash one check. Well eight months from now I get the first check........

[Guest]

I had to write a paper in my last semester of college over public finance and government based monetary “give back” money. And it said it will be over way before I turn 62. But I have VA disability so it doesn’t matter as much to me but it sure isn’t fair to those who have paid in and won’t see any of it

[kmitchl]

Supposedly it’s actuarily all the same if you start at 62 or 70. Its been several years since I looked at this but when I did the calculation it’s based on you living to 81 or 82. At that time you have collected the same amount regardless of when you start. What is frequently overlooked is paying income tax on up to 85% of your SS payments. If you are in the 85% bracket it reduces your real $ by about 20%.

[eastex56]

Congratulations brother!!! Glad to hear that you are getting back some
of your hard earned money!!

[Jimbow]

Congrats on the pay raise bud!

talk to you later,

Jimbow