Soacil security question

So I didn't even think this , think of pay by week at job an forget every 3 Rd month has 5 Fridays in it , 13 weeks in 3 months, so u pay monthly from ss an loose out in week , bad thing to partially retire early at 62 but I had it with ppl at work at jobs an plan on it less 10 months

Not every employee is paid weekly. Teachers are paid monthly, but the same percentage goes to Social Security.

Thats "social" coonman.

Social security is a percent of dollars paid when you get paid. No matter when earned, weekly, semi monthly or monthly!

Not likely ever get back what pay into it

You'll probably receive much more than what you paid into it.

Or you're getting paid extra ( overtime) for 9 weeks every 3 months. SS is based on yearly income. SS benefit is an annual benefit payed monthly ( annual benefit ÷ 12 = monthly benefit ).

I think it's due to become bankrupt about the time I'm eligible.

Can’t they just print more money like they do for everything else?

Most of us get back all we paid in rather early in our retirement. I received full disability for several years before reaching retirement age. At age 75, I have surely gotten back my contributions. Wife waited to 70 to maximize her benefit. We each retired early.

I expect SS is a sacred cow in political circles. Not likely to become unfounded or reduced. Would be the kiss of death for either party.

coonman just remember when you retire your bills don't stop.They actually stay the same so you are going to need as much income as you make now...maybe more money is easy to spend..when you are not working

Soacil scurity is vital to keepin the vechile runnin..

That right , I just totaly forgot that ss is monthly pay, not like paycheck every week an just thought today that every 3 Rd month has 5 weeks, I always like that 5 th week in month as extra paycheck an never got monthly income , definately something different

That's what I used to say thirty years ago. I was wrong.

Re-read what Charles wrote. He's right, as usual.

Jim

Nobody was predicting that SS would go broke in the fiscal year 1990, maybe you did and if you did you weren't paying attention. Projections at that time were that the money would run out about 2040 or 50. Now it's down to 2034 before it's underfunded.

My biggest hope is you and Charles live long enough to see what's coming. There is about 170 trillion dollars worth of unfunded promises that have been made that our kids, grandkids and grandchildren will have to pay. Remember that those are today's dollars, not tomorrow's inflated dollars.

I agree that the two sacred cows will be bailed out, it's unfortunate.

Yes, much, much more.

If it is going to fail, I would gladly accept a lump sum refund of everything I have paid in to SS. I would even waive the interest.

I could do much better than the feds investing my own money. At 47 years old, I like my chances of making up the loss caused by my generous offer.

Alas, they need us to fund the current retirees and those who will take more than they paid in to the system.

I recently figured out that I'll get back everything I contributed (self employed) within 3.5 years. (If I don't croak first).

Mint a few coins like Biden wants to do to fund his follies.

You will get 12 equal payments, minus Medicare once that kicks in.

I recommend again for you to figure what it takes for you to live a year on, and if what your going to get if you retire early doesn't cover it, keep on working until you can draw enough that it does.

If social security input was invested like it was supposed to of been,.it would of grown and stayed solvent forever. But no, they borrowed and stole from it to fund other things. Socialist things to buy votes for the most part. Mostly all democrat decisions.

Dave your timing is perfect ,start your campaign now get elected to pres. in a few years get Washington all straightened out then you can retire with a good pension and not have to worry about SS. Hey iffn sleepy JO "the common man" can do it you shouldn't have any problem doing it !
Dennis

Don't forget to factor in for inflation. The COLA raise doesn't seem to follow real inflation rates.

Although coonman will don't forget to factor in for inflation. A thousand dollars today will be worth about 6 700 in ten years.

even THOUGH, it would be the RIGHT thing to do.

so much for "responsibility"...