10 things to know about Social Security

Familiarize yourself with strategies that can help maximize benefits or protect loved ones in the event of your death.

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385Comments
Nov 18, 2012 5:07AM
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What money?? We are just throwing our money into a bottomless pit and when I retire I'm sure social security wont be there. Also I have no faith in the 401K I've been sinking money into for all these years and I'd be surprised if I get any of that either.

Nov 18, 2012 5:07AM
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What money?? We are just throwing our money into a bottomless pit and when I retire I'm sure social security wont be there. Also I have no faith in the 401K I've been sinking money into for all these years and I'd be surprised if I get any of that either.

Nov 18, 2012 4:37AM
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What a great way to sell the Kiplinger magazine.  Just teasers without the story.

Subscribe and Buy.

 

Nov 16, 2012 8:27PM
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Wake up peope, first you have to have people contribute to have the monies and when you have millions of people who have not contributed to society their entire life collecting SSI, (no 10 quarters needed for SSI) for every ailment kniown to man (drug addicted, depression,bad backs etc) leeching off the social secuirty that the rest of the working class has contributed to. Investigating SSI is only done on a complaint driven report so....... we know how that goes, then you have to 40+ year old students who have gone to school ten years and continue so they don't have to pay back student loans another federal leech. When you think thats bad enough then there are the baby factory welfare generation after generation who never intend to go to work, after all this is the best retirement program better the pension,medicare that the rest of us have worked for, all expenses paid for cash,food stamps,full medical medicaid (eyes, ears, feet,no deductables)  why work??????????????  We need to revamp the qualification process.
Nov 15, 2012 7:43PM
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I Got Crushed by a pile of bricks' on the job when I was 29 yrs old! I was in the union and the company Robbed me of my future! Now I'm 58 and trying to survive on $700.00 a month! Even after I took a Chance with the "TICKET TO WORK PROGRAM" The social Security Said that they were going to take all

My Benefits'! I told the Social security employee that since I had degenerative disc disease and other illness' that I would refile and get my check back! and also they would have to recalculate my benefits'

because after i had worked for five years' as a security Officer social security would have to count the quarters' that I had paid into the program! I got my check in six days' later! "but" they didn't count the quarters' that i had paid in while on their crooked program! I think they owe me for those quarters' and

I will get them before I die!. "BEWARE OF THE TICKET TO WORK PROGRAM!"! If a Lawyer reads' this

Please help me I will Be very gratefull!

Nov 7, 2012 2:40PM
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FYI::::: we du NOT have an American EAGLE annnnny-more, whutttt we du haqve is a two-winged JAKKKKASSSSHOLE/& Elephaaaaante (AKA:=VULTUREZZZZZZZ-POLITITIONZ)
Nov 7, 2012 12:31PM
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sjoshhhhieeee, MANNNNN are YU ever wrong!!!

4.1 BILLION are sent to South America, Peru, Bolivia, Meheeeeeco, Argentina, etc, etc for approximately 25 consecuetive years in a row now!!!!

CHEKKKK-it-out FOOOOOLZ!!!

Nov 6, 2012 7:25PM
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jtek, Here's a scoop for you.

 

Social Security IS BROKE.  EVERY DIME you have ever put into it is GONE. 

 

There is no Social Security trust fund. 

 

The surplus that once existed in that fund is gone having been (wasted) spent by the United States Government.  The surplus money which used to exist has been replaced by IOU's in the form of treasuries.  Where does the governement get the money to fund these IOU's?  Right .  They borrow from themselves and run the printing presses and PRINT MORE MONEY THAT IS BACKED BY NOTHING!

 

Right NOTHING because the United States of America is BROKE.  No, we are $16 TRILLION BELOW BROKE because we have a congress and president who continually spend so much money that have liquidated any "social security" which was ever offered by this program.

 

Social Security is a ponzi scheme and only works because it counts on the next generation to fund the existing generation's retirement.  Politicians are afraid to alter or do away with Social Security because it mainly benefits older Americans, and guess who is most likely to vote?  You got it, OLDER AMERICANS.  So, the outdated broken system remains and continues spiral out of control while our government continues to print money to try to fund it.

 

SS should be gradually done away with through means testing and let Americans take that money which is withdrawn monthly from their paychecks and invest it however they see fit.  They couldn't do worse than the government has done.

Nov 6, 2012 7:17PM
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SS is a contractual obligation between the federal government and the people who paid into the system.  This obligation cannot and will not be cancelled by anyone.  Neither of the political parties want to delete this program or reduce benefits for people 50 years old or older.  The Simpson Bowles Commission simply says that we need to defer retirement a few years for those currently under 50 to ease the the burden on the next generation.   I don't think most seniors want to economically punish their children and grandchildren to pay their retired SS benefits.  I have been working for 55 years and will wait two more years to collet SS benefits.  I do not think 70 is an unreasonable retirment age.  

However, in  my opinion, the AARP and its members seem to fully support bankrupting their children adn grandchildren.  I guess the "me" generation is really all about "me" and forget the next generations.  

Nov 6, 2012 6:46PM
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Social Security is a Ponzi scheme.  If I had the money I have already paid in, invested as I have in my 401k, I could have retired at 50 as a millionaire.  SSI needs new rules.

Everyone pays.

Nothing in / nothing out.

All income qualifies.

It's your money.

Nov 6, 2012 4:57PM
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djburns100 is right. you can blame the demise of SS on the Demorats.
Nov 6, 2012 4:44PM
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SSI was created for the last 2-5 years of your life not 20 plus years as many retirees are using it for these days.  We need to increase retirement age to 72 ASAP and teach people early to save for retirement instead of buying that brand new car every two...We also need to look at double and triple dippers into the system; military retirement, civil service and then SSI that takes a huge toll on our system.  I am not saying we should not offer military retirement but at 38 or 40 should we really be giving retirement adn medical????

Nov 6, 2012 4:20PM
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I totally agree as the Democratic Party has been the one's to continually take from the Social Sec fund without paying back a penny and if we allow this to continue on this path there isn't going to be ****gram for anyone................

Nov 6, 2012 3:43PM
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this is for insagt.  I was 65 in Oct.2012.  When I called to apply for medicare, I asked about my deceased husbands SS.  I am eligible for death benfits.  They will start in Jan, but I won't get my first check until Feb.  I was told I could continue working all of next year(2013) and they quoted me how much I am able to make for the year 2013.  I strongly urge you to call the social security office in your area ,and make an appointment if you need to go into the office and have your questions answered.  The SS people were very helpful.  I am not sure if you can collect now or have to wait.until you are 65.  They will tell you just what is what.  Good luck

Nov 6, 2012 3:32PM
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AS FAR SS GOES IT WILL BE AROUND FOR A LONG TIME UNLESS TE SIMPLE T BAGGERS GET THEIR HANDS ON IT STOP BELIEVING ALL THESE STORIES THAT KARL ROVE AND THE KOOK BROS SPREADING THRU THEIR VARIOUS FLUNKIES!!!!!
Nov 6, 2012 3:26PM
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I JUST READ WHERE SCUMBAG TRUMP HAD THE NYPD BLOCK OFF A GAS STATION SO HE COULD FILL UP THE VANS THAT HAUL THE CONTESTANTS FOR HIS CRUMMY TV SHOW. IS THERE NO END TO THIS CLOWNS DISREGARD FOR ALL THE PEOPLE IN NY AND NJ THAT ARE SUFFERING FROM SANDY .THIS JACKA## SHOULD BE HORSE WHIPPED!!!!!!!!!
Nov 6, 2012 2:14PM
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Can u guess why the Board of trustees revised the 75% insolvency down by 3 years?

we have our president to thank for this. He lowered the social security payroll tax  thus weakening the system but he could care less about that as long as he scored political points. The second thing he did to screw us was to lower the standard to collect early disability which is nothing more than welfare payments at the expense of overall health of the system.

 

He needs to be fired now. Get out from behind your PC and vote him out of office today !!!!

 

what are u waiting for??  

Nov 6, 2012 1:56PM
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I want more control over my Congress representatives. They should have to come to their constituents for pay and benefits approval. WE the people should decide term limits. We the people should have input into how our reps vote. Right now, once in office they only represent themselves.
Nov 6, 2012 1:53PM
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The Social Security System is NOT Broke or Broken

The Social Security trust fund currently has $2.6 Trillion in interest bearing Treasury notes which means it Aint Broke.

With current FICA payroll receipts & the use of these funds, the System is in good shape to pay all benefits that are expected for the next 25 years. Beyond that period the incoming payroll deductions alone would provide for the payment of about 80% of the amount currently expected in benefits FOREVER. With a few moderate revisions, s/as raising the cutoff limit, or possibly actually raising the payroll tax rate by 1%, the system will be set for at least the next 100 years, so it isn’t broken.

I repeat The Social Security System is NOT Broke or Broken, HOWEVER

THE PEOPLE WHO HAVE OPPOSED SOCIAL SECURITY SINCE IT’S FOUNDING,(primarily Republicans) would have you believe that the system is doomed in order that they can get rid of this annoying system.

 

Those who want to dismantle Social Security often suggest it's about to collapse into rubble. That false assessment is one of the reasons so many people are convinced the system won't be there when they need it. As I show above, With current FICA payroll receipts & the use of the Trust Funds, the System is in good shape to pay all benefits that are expected for the next 25 years. Beyond that period the incoming payroll deductions alone would provide for the payment of about 80% of the amount currently expected in benefits FOREVER.

 

There has never been any change in the way the Social Security program, or the Social Security payroll taxes, are handled by the federal government. (NO change by Reagan, Johnson, or any president).

The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. Receipts from the payroll deductions are used to pay benefits to the eligible recipients, and any funds not needed for these payments is used to buy interest bearing treasury notes, to provide for future requirements. The Social Security Trust Fund has never been "put into the general fund of the government."

Nov 6, 2012 1:52PM
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You have to have had a JOB to collect Social Security.  Most blacks are on SSI. A FREEBIE from of course, the DEMOCRAT FEDERAL GOVERNMENT. NO JOB NEEDED.
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