That is true when u reach full retirement age which varies depending on the month and year u were born. In my case August of 56 made full retirement age 66 and 4 months. My first check hit the bank yesterday. Plus I work full time and gave my employer my 2 year noticeI Believe that over 65 yrs old, there is no penalty for making over the set amount (around 19K per yr)
Not if you are living outside the US, then they extend the date for full benefits. And if you are receiving social security benefits from another country your US benefits are reduced. I think mine are reduced in the 15-25% range. Don’t remember because it doesn’t matter, they tale it. Also don’t remember because my memory is failing.That is true when u reach full retirement age which varies depending on the month and year u were born.
Money to be made by those receiving the funds to privatize, also political influence thru these same monies.There is an effort ot take SSI private, because there is money to be made
If you die without a spouse and/or dependents, what you have paid in stays in the system, which is the way it was built and intended.it loses over 4% over time. Your estate loses every penny left when you die also.
If you are young now, yes. But... on average all prior generations would get more than they put in, adjusted for inflation. If you are retiring now it's probably near even.SS is the worst "investment" anyone could make and if not forced to "invest ", you would be fool less to do so since it loses over 4% over time. Your estate loses every penny left when you die also.
Many people accept statements like "It all work out just peachy until you run out of other peoples money." The federal government cannot (willingly) run out of money; it owns the printing presses. The function of money at the individual ("household") level is different than the function of money at the Federal level. At the national and international level, a principal function of money is to facility economic activity (e.g. store of value, unit of account & medium of exchange). In order for economies to grow, it is necessary to expand the money supply; if we used gold today as the medium of exchange and assuming huge new discoveries of gold (and the mining, refining & distribution of such discoveries) had not occurred frequently over the last 150 years, our economies would be much, much smaller and our "progress" (medical, scientific, economic, technological, etc) would have been much slower. The ability of human society to produce "goods" has greatly increased over the last 150 years and an expanding money supply was necessary to keep up.SS is the worst "investment" anyone could make and if not forced to "invest ", you would be fool less to do so since it loses over 4% over time. Your estate loses every penny left when you die also.
All these programs and pension plans are basically pyramid schemes because in order for you to get your money after employment, someone has to to pay into it. It all work out just peachy until you run out of other peoples money