Re: Loan against SS
[Re: yousowise]
#6870419
05/12/20 05:21 PM
05/12/20 05:21 PM
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Joined: Dec 2006
Posts: 21,536 Sandhills Nebraska
Gary Benson
trapper
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trapper
Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
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I’m 41, they can keep everything I’ve put in already if I can get out of paying going forward. SS is just a big Ponzi scheme except most don’t get back what they’ve put in, especially true when you consider all the growth you are missing if it was invested. Especially if they die when they're 64. I have to be 66 yr 6 mo for full "benefits". You young bucks will have to work until you're 90 to get full "benefits"
Life ain't supposed to be easy.
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Re: Loan against SS
[Re: danvee]
#6870547
05/12/20 05:55 PM
05/12/20 05:55 PM
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Joined: Dec 2008
Posts: 28,715 Eastern Shore of Maryland
HobbieTrapper
"Chippendale Trapper"
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"Chippendale Trapper"
Joined: Dec 2008
Posts: 28,715
Eastern Shore of Maryland
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They need to get rid of the Social Security program bad Idea from the start and gets worse every year. They can keep every dime I’ve paid in if they don’t take another.
-Goofy-
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Re: Loan against SS
[Re: danvee]
#6870615
05/12/20 07:35 PM
05/12/20 07:35 PM
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Joined: Jan 2014
Posts: 17,692 Central Oregon
AntiGov
trapper
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trapper
Joined: Jan 2014
Posts: 17,692
Central Oregon
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Hey its an opinion Gary just like a lot of other opinions on here. If you want to try to cyber bully go to a grade school chat room it might work. Social Security program was the first step to socialism and a big step in having to rely on uncle sugar. Look at the amount of money you put in the and what you will get out and what it could do in the stock market or owning real estate. It was a bad program and should be phased out just my opinion. I agree
Report a post club - Non member
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Re: Loan against SS
[Re: white17]
#6870622
05/12/20 07:41 PM
05/12/20 07:41 PM
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Joined: Dec 2006
Posts: 21,536 Sandhills Nebraska
Gary Benson
trapper
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trapper
Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
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I agree, by the way. If a person can't take care of themselves too bad.. That'll never happen though. The Liberals won't stand for it.
Life ain't supposed to be easy.
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Re: Loan against SS
[Re: white17]
#6870675
05/12/20 08:19 PM
05/12/20 08:19 PM
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Joined: Mar 2019
Posts: 1,497 Southern NJ
maintenanceguy
trapper
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trapper
Joined: Mar 2019
Posts: 1,497
Southern NJ
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I'd sign up and do it right now! The plan is that you borrow $5,000 from the government at a "specified and favorable government interest rate". You then repay the loan with your first few social security payments. They're also saying the loan will be paid within the first 3 months of SS payments.
I'm assuming the favorable interest rate will be in the low single digits. I'll invest it and make 10% - 12% over the next 17 years. I'll take the $27,000 - $38,000 I made on the $5,000 and live on it for 3 months until SS kicks in.
Last edited by maintenanceguy; 05/12/20 08:22 PM.
-Ryan
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Re: Loan against SS
[Re: maintenanceguy]
#6870705
05/12/20 08:44 PM
05/12/20 08:44 PM
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Joined: Dec 2006
Posts: 41,592 Northern Maine
Bruce T
trapper
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trapper
Joined: Dec 2006
Posts: 41,592
Northern Maine
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I'd sign up and do it right now! The plan is that you borrow $5,000 from the government at a "specified and favorable government interest rate". You then repay the loan with your first few social security payments. They're also saying the loan will be paid within the first 3 months of SS payments.
I'm assuming the favorable interest rate will be in the low single digits. I'll invest it and make 10% - 12% over the next 17 years. I'll take the $27,000 - $38,000 I made on the $5,000 and live on it for 3 months until SS kicks in.
Trouble is when you retire you will have no income coming in for 3 months.
Nevada bound
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Re: Loan against SS
[Re: SNIPERBBB]
#6870724
05/12/20 08:54 PM
05/12/20 08:54 PM
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Joined: May 2010
Posts: 10,421 mn north of blakely
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,421
mn north of blakely
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I just wonder what that would do to the SS fund. If all 30m+ that are unemployment take that 5k option that's 1.5 Trillion gone. More like 150 billion. Ken, the "proposal" is a terrible idea. Just another gimmick that will make the dollar in our pockets worth less.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Loan against SS
[Re: AntiGov]
#6870896
05/12/20 10:56 PM
05/12/20 10:56 PM
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Joined: Mar 2007
Posts: 35,127 McGrath, AK
white17
OP
"General (Mr.Sunshine) Washington"
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OP
"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,127
McGrath, AK
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Hey its an opinion Gary just like a lot of other opinions on here. If you want to try to cyber bully go to a grade school chat room it might work. Social Security program was the first step to socialism and a big step in having to rely on uncle sugar. Look at the amount of money you put in the and what you will get out and what it could do in the stock market or owning real estate. It was a bad program and should be phased out just my opinion. I agree Me too
Mean As Nails
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