Home Forums Hunting & Shooting Hunter's Campfire S.S. statements?

Everyone needs beer money..

They are in fact saying that cuts will be coming, however, the reason I believe that this is just empty rhetoric, is multi faceted. First, they have been saying the same thing for many years and nothing has changed. Second, our government used the funds, contributed by individual Americans and corporations, found in the SS account for other programs with a promise to pay those funds back at a specified rate in the future. That rate did not and does not match the actual interest rates that could have been achieved had they just left the funds intact. And more importantly, they never followed through with refunding the SS funds they borrowed, except with additional promises. So to reduce payments to already established recipients, they will have to provide an explanation far greater that "we can no longer afford to honor our agreement with our own citizens." To get Americans to accept those cuts is something that I personally want to see and hear. Third, our government would have to explain to their own parents, friends and extended family why they are going to continue providing money to other countries and illegal aliens at a rate higher than the amount of the current deficit in SS and at the same time cut funding in the SS program. Can you imagine our government officials standing up there saying we are going to continue to give Billions of your money away to governments and illegal aliens that are unfriendly to America and we are at the same time going to cut funding to our elderly. No politician is going to do that, especially since doing so would put 35% of older Americans into poverty. (AARP) Finally, (and I am sure others here can give many more reasons why this promise to Americas older citizens is not going to be broken,) should they cut funding to a guaranteed program like SS it would send so many Americans into such a dire financial situation that I believe there would actually be a revolution and the end of the United States as we know it, if not completely. Do I believe those of us that are in their 40's are going to see full benefits from SS...not a chance in this world. But I find it hard if not impossible to believe that there is any way they will actually cut benefits to already established recipients. According to the AARP "The Social Security trust funds have accumulated more than $2.6 trillion in assets, and their value is estimated to peak at $3.7 trillion in 2022. After that year, the trust funds assets will begin to be drawn down in order to pay full benefits. Beginning in 2036, according to the Social Security trustees, the Social Security trust funds will be exhausted. Without any changes, Social Security taxes (primarily payroll taxes) still will be enough to pay 76 percent of scheduled benefits in 2037 and 74 percent of scheduled benefits in 2085. So I will continue to believe those of us already receiving SS benefits will continue to receive them.

Hiker,
No sir, I haven't heard of the new talk of winding down payouts over the nest 15 years. I have heard the chatter of no $ left for many years.
Short answer on double post, I'm a tech idiot! Use to be when I posted, it would take me right back to topic, now I guess I have to hit back arrow.
I don't feel a $233 difference is significant.
I'm very happy you have earned the right to a enjoyable retirement.
I hope your 70% is placed in Dividend Growrh equity's, and you own then individually. It's the only chance to keep our purchasing power vs. inflation.
Thanks for your input and have a good week.

To the O.P.: Be ready for some surprises when you contact SS. I went through exactly the same situation six months ago. I found I couldn't sign up to the website. I called to find out. It turned out they had a mountain of innacuracies in my records. Things like birth date, place of birth, and all that were AFU. The didn't even know I was a citizen. I was told to come in with all my paperwork and get it fixed. Yikes. I'm glad I didn't start asking about this until I needed a check.

The reason given was keypunch errors when the paper records were transcribed back in the 70's. Back then, if my memory serves, the way to do it was to give the records to two separate keypunchers and then sort out the records that weren't typed exactly the same for scrutiny. It worked most of the time, but obviously not here.

To CrazyDog: I didn't know you before you started posting on this thread. Hmmmm. 44 posts and most of them bashing Trump on threads that have nothing to do with Trump-- like this one. You get the shamanic ignore just about quicker than anyone before.

To the rest: Is it just me, or are the current crop of trolls sounding more strident? I smell panic in their posts, n'est pas?

Yup just keep hiding your heads in the sand and hope the mess trump is creating just disappears.

Folks here, overall, seems to have their plans in place. That’s good as so many do not.

And just what the hell does Trump have to do with SS statements? Ignorant fugging troll.

The ANTIFA egg-suckers threatened to kill President Trump and the Secret Service finally opened an investigation of the domestic terror group, ANTIFA.

I hope the guilty snowflakes get sent to a maximum security federal prison, and become prison bitches. They'll never make another fart sound as long as they live.

Tell you what, Crazy. Give us an example of a law you think Trump has broken. The USC code number, whatever. Just one.

If you can, we'll listen to you.

If not, sit down and shut up.

Trump was sued by Larry Tribe for violating the emoluments clause but the judge dismissed the case, so that one doesn't apply.

interesting read but I can't imagine there will be many people that start taking SS at age 62 and invest it

quite frankly with the financial situation the government finds itself in , I'm surprised a person can even get SS at the age of 62. I bet that won't be a reality when I get there.

As someone said earlier, means testing will be the norm at some point regardless of what you were "promised" when your money was taken and people like Bernie Sanders think I'm a wealthy person.

I don't understand how it works for me. I have 15 years contribution to S.S. The estimator says I would get $872 at 66 years and 10 months, full retirement. I'm told that i I wait until that full retirement age my state pension would not offset that. I have no idea what it would be had I stayed in the private sector all these years, or if what S.S. is saying is accurate.

Contrary to what some believe in Ohio I do not pay Social Security nor does the state. Only the medicare part. So I only get what I've paid in for outside my state service. Prior to it, or a second job.

My wife is a school teacher and she hasn't paid into SS for the last 8 years. Supposedly she has a pension which I'm sure is underfunded and bloated with retirees.

But she's worked for a good 10 years or so before we were married and paid into SS. She was getting those letters in the mail awhile back saying how much she'd get at retirement.

I should probably look into how all that works and be prepared for it. I'd hate to think her pension is the difference between meatloaf for dinner and dog food when we retire. Damn, I shoulda married a woman 15 years younger than me.

I really don't know how STRS and OPERS compare. But I imagine it will become 65/32 for full benefits before too much longer.

Except for cops, cops are special. They retire at 20-25 years and then come back and take a second OPERS paying job since they are only in their 50's. Double dipping we call it. Of course my classification, corrections officer, is the single biggest classification in the state. We tend to die before we retire or not long after. OPERS is counting on that so there is no way we would be classified as LE.