Styled after the popular game show, Who wants to be a Millionaire? -
The US Social Security Administration is advising citizens through its new commercials how to find out what their projected social security retirement benefits will be.
More amazing, is the blatant disclaimer at the end of the commercial, that Social Security is not meant to be an all-inclusive government sponsored retirement plan, and that citizens should supplement future retirement income from private savings.
This is the first time in my life I can ever remember such a public advertisement notice, or information bulletin from the US Social Security Administration. It is quite amazing and ironic that they should make such an announcement now, when it was never done before. What's the spin? Basically that Social Security is or will be broke very soon and that Mr. or Ms. US citizen should beware or at least forewarned.
In other words, Social Security is letting you know – Don't complain to us when you retire, we told you in 2001 that we can't support you (but thanks for sending in all your money during the years you were working).
I haven't seen the commercials yet, but will watch for them.
Actually though, I had a class in college on Insurance (a couple years decades back now ;)) and the teacher did focus on Social Security in one section. I learned then that it was only intended to be supplemental from the beginning, but that many people didn't plan for retirement or have savings so it became their only income. I suppose the commercials are just a new form of CYA for them now that things are 'hitting the fan'.
Teresa, I hate to say this, but when I studied civics and POD in high school, we learned the history of Social Security and when and why it was started. I remember the teacher telling us it was a social security supplement, to be sure there was a little money. It was not meant to be a complete pension to live on. We were admonished to start saving money early. That was about the same time I applied for my S.S. number and got my first checking and saving account in my own name.
Yea... since that was the case ..it's too bad all the money that was put in the SS general fund, just didn't go into the working individual peoples personal government account.. with us not being able to touch it until we retire.. BUT...that would have been to the benefit of the people.. and not to line the governments pockets, now wouldn't it? Now of course they have used it for everything under the sun and what we have is our SS account is trillions of $ in debt.
**We are giving our grandchildren and great grandchildren SUCH a wonderful gift ::) **
Sorry, but where the government is concerned I am so cynical (with good reason) and the trust (if there ever was any, which there wasn't) has been buried a long long long time ago.
I am not a doomsday type of person, but I am one to keep my head out of the sand to see what's in the cross-hairs looking back at me,
It isn't a pretty sight.. BUT.. we will persevere. Living in the location and area that I live in, is an advantage. Other than living within a 100 mile radius of Wichita's military and aircraft bases, we are better off (in my opinion) than those in the city's.
Everyone needs to try to be aware and prepared without living in a vacuum. Our world and resources ( as we have known it) can not be pushed, stretched, abused and wasted, without it finally giving way. it is so sad.. but we better keep our senses keen.
((((wow.. that is just waaaayyyy to heavy for a Monday morning ))) ;D ;D
I'll go in now, and put on Christmas music and clean the house.. :D ;D :D
I guess I'm from the generation where we were taught that Social Security will probably NOT be around by the time we retire, so to start saving in other ways. Many (most) companies provide 401K match programs, and I've always put the maximum amount in out of each paycheck. I figure that I can live without a few dollars now so that I'll have something to retire on later.
And as far as Social Security still being taken out of my check now, even though I probably won't see a penny... I guess I just look at my grandparents and the fact that they depend on SS or didn't have the opportunity to participate in 401K or anything, and I'm just helping provide for them.
Thank you, Tobina, for helping support me.
Oh please.. ::)
You worked Wilma..and so did your husband..therefore you had/have SS.
And I am all for helping to take care of our elderly..and we do.. but my SS view still stands as it is.
I think it has been corruptly grossly mishandled...and if we all handled our finances like the government handles (our) their finances.. we would all be on the streets without squat!
ihave always known that s.s. was a part of what I might depend on. Jobs that had a good retirement plan was important plus theretirement plans came along. Plus I was taught not to spend everthing, to save for a rainy day.
Yes, Teresa, I worked. My 'didn't get past the eighth grade' husband worked. It is because of his earnings that my social security is above average. We retired with more than was expected of non educated people. Unfortunately, there isn't enough to keep me in a care facility for very long, so there probably won't be much to leave my kids. Therefore, I am giving as much as I can to them now. I don't expect to make them rich when I die, but I can make it easier for them now. My mother had more than most widows, but it took all of it to take care of her.
Which brings me to something else. My mother's soc sec check each month was around 800.00 a month. My mother-in-law's check was about half that, yet these two ladies had money left over at the end of each month. If I can just manage to do as good as they did, I will be happy.
Wouldn't it be great if we could live on $400.00 a month?
We were talking the other day and I remember when Mama and I would go up to Grayson's Dime Store and get white tennis shoes for me for 99 cents. Even then, I knew it took some saving. What my dad made in a month and raised Sherri and I on..was less than what we go out on a Saturday night in the city and spend on a movie, popcorn and a nice dinner. (plus the gas to get there)
I believe that someday, because of the instability of the country, the economy, and war, and we will have the family members all together..living in one "homestead".. ..protecting and working together and surviving as a unit. I know that my family members have talked seriously about when that day will come and how we will be prepared.
For those who survive will be those who live within their means, know how to plant a garden for the vegetables for canning and butcher hogs, beef and chickens for the meat. I have read newspapers from the 1920s and 1930s. If we keep going the way we are then we will be repeating history.
I have been trying to find a response to this and do it in a way that I can
tell it like it is......and to let people know that being on disability and SSI with (now) being on Social Security
has been a different road than what I had planned when I was a young adult raising kids and me and trying with the
father.
I did work some, mainly with 3 under 3 and my husband having less than an 8th grade education and we couldn't afford babysitters, etc on what we could earn.
so I stayed home until they were old enough (in school) and then worked part-time and then low income jobs.
when we split the marriage I did manage to work as a nurses aide at a hospital and maybe got about 10 years or so under my belt until I got Fibromyalgia and Rhematoid arthritis, and poly-arthritis and a couple more auto-immune illness' with restless legs thrown in to the equation for good measure.
When all you have been trained for is what you learn as a mother/housewife and sometimes bed changer etc......that is not a job (I) can do when there are days when I can't hold anything without dropping it and then until about 3 years ago I wasn't able to walk without a cane and of course didn't walk far when I did.
Living in this area where jobs that I am qualified for are scarse, I had to duck my head and ask for help.
With me being a "Displaced homemaker" I didn't qualify for full disability had to go on SSI which is the Federal eqivilant (I know that is wrong spelling) to welfare.
It has been rough learning how to live on this. just a few years ago.....when I hit 62 I did get on my ex's Social Security and the pay scale went up. I then got about $500 a month...........yep that is what I said.
With this pay scale I qualify for help with food and housekeeping and there are people with agency's that have helped me get where I am today.
Of course, there are times I can work.......such as when elections come up I work them and I also scorekeep for softball and baseball games here in Longton, when there are home games.
I have learned to live without............and my son when he passed away left me part of his life insurance and I was able to coast the past few years with it.
I am not allowed to have any asset that amount to more that $2.000. Can have my car, which I bought with his life insurance, and then had to spend down the rest to get on the Kansas medical insurance (they won't cover you if you have too much money......so I did wind up owing a lot after then cancer and when the money was gone they put me back on.
But, I still owe and am still paying when I can and trying.
I can't want anything big.......and must accept that it will always be like this.
I think if and when the ex passes on I will get a larger amount. But, when you get a raise they take it back in the form of Medicare and I dare anyone NOT to have health insurance of some kind......and then they penalize you with taking something else away.
As you can see it is a nasty cycle......but with the help of God I do get from one month to another and I am sure that He will see that
I have what I need to get buy.
I dare not buy a lottery ticket....and unless I could win a huge amount (millions) it wouldn't pay me to try.........and like I tell my friends
I do have a roof over my head, I do have a bed and warmth and enough to eat and altho there are days when I would love to do something fun..........go to a concert or fair or just be able to go to WalMarts without counting the cost in gas over there and then get some good tasting food.......chocolate or ice cream or (I mean different flavors) and even try something new cafe or resturant over there.........so I am thankful that I have what I do have.
I want to thank all of you who pay for me to survive.............Being on SSI and Disability has taught me to be more diilligent with what ever I do and I am surviving.........
The reason I am walking a little easier is that during the cancer therapy and the recovery I lost more that 80 pounds and with that much weight on my joints it did make it hard to walk...........and the fact I try to walk 30 minutes a day and feel much better for it.
I know this is long and sorry for that. But, I did want to tell it like it is and tell you that even on this amount.....Life is good.
Hugs and God bless, Judy
Lord Almighty... here I go again.
I think that by now I would learn to keep my mouth shut about some things.. but dang it.. I get so frustrated at things that I can not do anything about . And I hate liars and cheats and to me our government is just chuck full of them..openly in broad daylight scamming and cheating us and without a gun, they are stealing us blind.
Now understand me when I say, I don't want anyone to get the wrong impression that I am not in favor of SS.. I am. I have always been and always will be more than willing to help those who need it.
And I am sorry for all your hardships Judy. But that is what frustrates me so much.. We shouldn't have these kinds of things happening to our people here in the US.
I don't mind paying in.. and I never have, because I "thought" it would be there to help my parents, myself and others here who needed it after they could no longer work. And everyone who was paying into it thought so too.
What I am against is the fact that the government has squandered our Social Security savings.. literally stolen it out of the account and used it for every other thing than what it was supposed to have been in there to be used for.
Suppose you want to spend more money this month than your income. This situation is called a "budget deficit". So you borrow.
The amount you borrowed (and now owe) is called your debt. You have to pay interest on your debt. If next month you don't have enough money to cover your spending (another deficit), you must borrow some more, and you'll still have to pay the interest on the loan. If you have a deficit every month, you keep borrowing and your debt grows. Soon the interest payment on your loan is bigger than any other item in your budget. Eventually, all you can do is pay the interest payment, and you don't have any money left over for anything else.
This situation is known as bankruptcy.
Each year since 1969, Congress has spent more money than its income. And our Social Security account is part of that.
The Treasury Department has to borrow money to meet Congress's appropriations. The total borrowed is more than $8,000,000,000,000 and growing every day!. Even when government officials 'claim' to have a surplus, they still spend more than they get in. Beware the term "Social Security Surplus"; There is no such thing.
Social Security is not part of the Federal Budget general fund. It is a separate account and has/had/has its own source of income. Social Security payments do not go into the general fund, they go in the Social Security trust fund, and should NOT be counted as general revenue. The trust fund is supposed to be used to pay future benefits.
But......currently, there is more being payed into the Social Security Trust Fund than is being paid out to beneficiaries.**THAT should give you the big red sign alert**
But do they give it back to the ones who have worked and put it there? Ahhhh NOPE.
They cut people's amounts back.. and then what's left over is routinely being "borrowed" and used as if it were general budget revenue.
Oh... but wait a minute... government agencies using that money are promising to pay it back (IOUs). Yeahhh right!
The Federal Government doesn't do anything well. It's inefficient, slow, prone to fraud, and ineffective.
Why would you want the Federal Government to take care of your social security in retirement?
We don't.. BUT.. once again.. we have no choice...
All of the money in the Social Security Trust Fund has been spent! That's part of the National Debt. folks.!
So right now...Social Security is just a very large tax collection tool.
((I am sooooo sorry that I got on my political stump once again :-\ ) But I feel so strongly about what is happening to us in this country ..and to be very honest with you..it just scares me to death!
Don't count on your Government not screwing you out of your 401K either.
Did you know that people are alcoholists and drug addicts get SSDI sooner than those with a physical aliment. I believe that they need to wait just like the rest of us. But people with a mental illness and are mentally challenge should get SSDI as soon as possible. Those with these illness had no choice but alchoilic and drug addicts has a choice. Sorry about the english my brain think faster than my fingers can type.
And what really makes it even worse, is that these Lawmakers/breakers and their spouses are going to be living off all of us till they die with a whole benefit package that never ends. I'm with you Teresa, I get so pissed I can hardly stand it some days. >:(
We need to write all our congress people that they need to stop adding pet projects to any bill that involves society security or we will vote them out of office in the next election. There is a lot that they can do in Washington, D.C.