It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Social Security is NOT your retirement "investment"

page: 1
1
<<   2 >>

log in

join
share:

posted on Sep, 2 2011 @ 05:55 AM
link   
I have seen a few threads that are based on misconceptions of the Social Security system and I thought I would clear a few things up.

When a person “pays into” social security they may assume that the money is being invested into something that will be waiting for them in the future, as if Social Security actually a giant savings account that is being maintained for them by the federal Government…This is absolutely not true.

In fact, when an individual gets money taken out of their paycheck that goes to Social Security, the money goes directly toward the payment of benefits to people that are already receiving social security…there is no large account. (have you known the government to care about your investments before?)

The reason that a person may be confused about the Social Security system boils down to a number of factors in my opinion:
• Terms like “pay into”, “invest”, and “collect” are thrown around by the media and politicians.
• Economics…is usually an elective for many degrees
• The government spends a great deal of time and effort to create many consumers…not informed consumers
* Capitalism thrives on bad investments and good investments

The solution to this is very simple (well maybe not sooo simple)

I feel that we need to start to become more fiscally responsible when it comes to our lives. The Government is not exactly designed so that we all make good financial decisions (and shouldn’t be) so we, as citizens, should be more proactive when it comes to our futures. We have the options of IRA’s, Savings Accounts, etc. and should use them to our advantage.
If you are a smoker and you just take 4 packs of cigarettes worth of cash ( a month) and invest it, in 40 years you will have over $20,000 without interest included.

I personally am saving for college for one current child and two potential children in our families future.
I am not a financial analyst, just a normal person and I honestly believe that we live in the best of all possible situations ( or at least the lesser of the evils  ) and I know that we can beat this!




posted on Sep, 2 2011 @ 06:02 AM
link   
As a person who has involuntarily "paid into" social security for the past 30 years, I do not think that it is unreasonable to expect some type of return on my "investment". I have been responsible with my private retirement savings, however, to expect people to have money taken from them week after week for decades and receive nothing in return is ludicris.



posted on Sep, 2 2011 @ 06:04 AM
link   
reply to post by hyperion.martin
 


I am under no illusions as far as the mechanism for income and outgo but... it's still no different than an insurance policy which is paid into so it is there should it be needed.

Anything you pay into with an expectation of eventual return is an investment... no matter where your immediate money goes.

I pay into Social Security and someday should I need it, I expect it to be there. I fully expect my government to honor the contract with me as I would an insurance policy.



posted on Sep, 2 2011 @ 06:05 AM
link   
reply to post by hyperion.martin
 


Maybe you are correct, but it's also fair to assume that the money you pay into SS is actually used for SS payments..

Not siphoned off into other Government programs..



posted on Sep, 2 2011 @ 06:07 AM
link   
reply to post by micmerci
 


I absolutely agree, I wonder though...considering that social security is actively assisting people, if you could go back in time and never have paid into it...would you take back the money or leave it to those in need (assuming that the ones taking advantage are not there) and continue to make your own investments?



posted on Sep, 2 2011 @ 06:08 AM
link   
reply to post by redoubt
 


I agree. In a way it is similar to unemployment. (cool Avatar)



posted on Sep, 2 2011 @ 06:08 AM
link   
reply to post by hyperion.martin
 
Anyone who is under the age of 50 and is expecting a "return" on their invouluntary investment is fooling themselves.

Start planning now. And do NOT trust the government to take care of you.



posted on Sep, 2 2011 @ 06:11 AM
link   
Crap a double post.
edit on 2-9-2011 by havok because: Apologies...



posted on Sep, 2 2011 @ 06:11 AM
link   
reply to post by hyperion.martin
 


You are absolutely right.

It's not OUR retirement investment.

It's lazy people's way of getting free money from the gov't.
Face it, alot of people abuse the SS with false claims just for a check.
It's a fund that can be used to fund gov't projects without reasonable cause.
It can be "dipped" into and spent loosely on however the gov't sees fit.

What was it set up for in the beginning?
Controlled funding to help Senior Citizens, Disabled and Mentally Handicapped.
How exactly is it running out?

Talk to your friendly gov't.


So why do we pay into if we will never see it?
That's a good question.






posted on Sep, 2 2011 @ 06:14 AM
link   
reply to post by hyperion.martin
 


I would donate voluntarily as I do any other charitable organization.



posted on Sep, 2 2011 @ 06:19 AM
link   
reply to post by havok
 




It's lazy people's way of getting free money from the gov't. Face it, alot of people abuse the SS with false claims just for a check. It's a fund that can be used to fund gov't projects without reasonable cause. It can be "dipped" into and spent loosely on however the gov't sees fit.


If someone goes out and commits a crime using a gun, we often blame the gun, not the human person holding it. We have this strange infatuation with attributing actions to the inanimate and conceptual.

Same with Social Security. If someone cheats on it, we blame the program and not the individual.

Anything can be abused... but nothing can abused with a corporeal being behind the action. Let's not hold the program to blame for the human abusers.



posted on Sep, 2 2011 @ 06:27 AM
link   
I have been paying into social security for almost 35 years. I have never drawn down on it. It has always been a not-at-my-discretion part of any retirement calculation, whether done by my employer or private investment counselors. I am counting on it however it is not a large part of my planned retirement income. I do not see anything wrong with counting on something that has always been considered "promised" to you and a part of everyone's calculation on when to retire. It is not a "benefit" as they usually call it, it is my money. When the time comes to retire, even though that age has grown for me, I will expect to see monthly (or however they do it) checks in the mail from them.

Same goes for Medicare... although I will have private insurance through my employer of 35 years, I will expect to also have Medicare as a second payer.



posted on Sep, 2 2011 @ 06:52 AM
link   
Social Security is a TRUST fund



posted on Sep, 2 2011 @ 07:04 AM
link   
reply to post by redoubt
 


Umm....I agree 100%.
I am holding the people to blame.
The people that abuse it, the gov't that uses it with no permission...etc.

I am not blaming the fund.
I blame the people for alot of things.


Maybe my context was misunderstood.






posted on Sep, 2 2011 @ 07:10 AM
link   
I don't know about you people but when the SS send me lettlers to tell me how much I have "put into SS" "involuntarily" they call it "and Investment in the future".

The problem is that the "investment" in my "future" has been "looted" by the Federal Government to help balance the "budget" for years.

The Federal government owns trillions of dollars on the SS In IOUs today and is not way in hell they are paying back.

Do not allow the whores in congress to tag the lack of money on the SS to us the citizens and now the baby boomer's, the only reason the SS is in trouble is because they have been stealing the money


“The government’s $2.5 trillion debt to Social Security is the real reason that so many politicians want to cut benefits. They are trying to find a way to avoid having to repay the looted money…. Given the fact that much of the surplus revenue from the 1983 payroll tax hike ended up in the pockets of the super rich in the form of income tax cuts, I propose a special tax on this group of taxpayers to recoup the missing Social Security money. The government used revenue from the Social Security payroll tax hike to fund tax cuts for the rich because that was where the money was. I think the government should recover the ‘embezzled’ money by taxing the rich.”


How Your Social Security Money Was Stolen – Where Did the $2.5 Trillion Surplus Go?

ampedstatus.org...

Our government propaganda is very deceiving and the lies are very convincing.



In 1990, Reid, along with a few other senators, was trying to protect the future of Social Security by telling the truth about it. In a speech on the Senate floor, on October 9, 1990, Senator Reid made the following statement:

The discussion is are we as a country violating a trust by spending Social Security trust fund money’s for some purpose other than for which they were intended. The obvious answer is yes…On that chart in emblazoned red letters is what has been taking place here, embezzlement. During the period of growth we have had during the past 10 years, the growth has been from two sources. One, a large credit card with no limits on it, and, two, we have been stealing money from the Social Security recipients of this country.


dissidentvoice.org...

Even that far behind politicians were using the looting of the SS for campaign gain, sadly many of the senators involved forgot about what they were preaching to the public on the awareness of what really happen with our SS.

People often have short memories.



posted on Sep, 2 2011 @ 07:11 AM
link   

Originally posted by hyperion.martin
reply to post by micmerci
 


I absolutely agree, I wonder though...considering that social security is actively assisting people, if you could go back in time and never have paid into it...would you take back the money or leave it to those in need (assuming that the ones taking advantage are not there) and continue to make your own investments?


I'm sure that this is not going to be a popular reply. Personally, I have been putting away alittle for retirement. I would be happy to stop paying into it, and be able to take that savings and invest it into my own retirment plan, and leave what has already been taken for those already drawing SS.

People also don't understand that SS was meant to augment retirement and not function as a retirement.



posted on Sep, 2 2011 @ 07:20 AM
link   

Originally posted by mnmcandiez
Social Security is a TRUST fund
But you are TRUSTING an institution that lies to you daily. You people are like abused wives who keep hoping that he will change if you just love him enough. Sheep.



posted on Sep, 2 2011 @ 07:39 AM
link   
I am not counting on anything from Social Security... If I do get anything, it will be gravy on what my wife and I are investing now.

Frankly, I wish they would decide on a cutoff age...all above it would get their SS...all below would be refunded their SS payments and allowed to do with as please.... then do away with SS after the last entitled person passes.

Based on the performance of our investments, we could have made a lot more than the SS Administration...

For all of you young ATSers, start investing now...saving, mutual funds, real estate...

If you don't know how... READ, go to Night SCHOOL, TALK to successful business people and ASK business owners...they like to talk... all of those things I did on my own...you can too.

In NC, our Community College System has programs and courses for business developement, how to start, how to invest, how to do taxes etc...and they are either FREE or very cheap. Through them I took a Real Estate course...

It is all up to you...by the time we retire, my wife and I will have a few million dollars... and I did it working in grocery stores and a farm/feed store...she works at a university.

It's not brains as much as a plan, persistance, and consistancy... start now.



posted on Sep, 2 2011 @ 08:00 AM
link   

Originally posted by havok
reply to post by redoubt
 


Umm....I agree 100%.
I am holding the people to blame.
The people that abuse it, the gov't that uses it with no permission...etc.

I am not blaming the fund.
I blame the people for alot of things.


Maybe my context was misunderstood.


Nope, t'was me. I misread you.

My bad - sorry



posted on Sep, 2 2011 @ 05:45 PM
link   
reply to post by redoubt
 


That was pretty well said. I would honestly say though that in my own observation there are far more people using SS the right way than the wrong.



new topics

top topics



 
1
<<   2 >>

log in

join