I got to say that Jerald of TN. tells it the way I feel. The dam government missed used OUR RETIERMENT, OUR MONEY. Had they invested the money we would not be in this situation instead they hand it out to people who never paid in one red cent. I think we should all be pissed. I know I am. In the early 60s when I was just going into the work force I like all the rest of the workers at that time were told that this was our retirement At that time there were no 401ks, than in the late 70s the government said we should invest in some other supplemental retirement plan to help with SS. I like most did not becuas I knew I could get by On SS at that time we all were busting our rear just to make ends meet. Now we are left holding the bag.
Al Pof MA9:30PM August 14, 2012
Does no one remember what we made in the seventies and early eighties?? I agree with earlier comments on the average total input amount would be more in the 100 to 150 thousand range. I will consider myself lucky living long enough to draw that much out. So I will end up about even, not counting interest it could have earned. How many people die before or just after retirement, after paying into it all their lives. The politicians who ruined it by tapping into it, handing it out for votes over the years, are the ones who deserve having their graves pissed on...
Jeraldof TN9:32PM July 18, 2012
One reason to get married lol!
Amandaof CA3:09PM May 03, 2012
Average wage every year for 40+ years? What kind of stupid calculation is that? I earned 2.15 an hour at my first job in high school, then went into the military for six years, starting at 360.00 a month. Not until I started working for a utility at the age of 44, did I actually start making well over the 43,000 that you set as an example. So before that, I paid relatively little into SSI, compared to what I will be getting back when I retire. I will get back every cent I paid in plus interest in about five years, after that it's all gravy. And you clowns are crying about how we should get rid of social security and let people put it into 401k's. I lost nearly 50% of my 401k a couple of years ago. I finally got back to even. I don't have to retire for another 10 years, but the guys I know who retired during the market crash were totally screwed.
IBAXNUof CA4:48AM February 23, 2012
Great post PappyG. Something I would add to this debate is, that taking money from one's paycheck is robbery. We have become accustomed to being robbed by Governments. It is stealing, plain and simple. Yes Governments need taxes to operate, but to take it from one's paycheck is stealing. There is no money in the SS trust fund because the Government has stolen even from the fund. It really is simple math, just live within your means, and that should apply to Governments. The more they take, the more they need, just like an addict, they can never get enough. This talk of reforming entitlements is ridiculous. The 1st ones they want to sacrifice are the ones paying for everything. I say reform Governments at all levels, Federal, State and local. Why do we never hear of Salaries of Government employees being cut? He!! they even give themselves raises while not giving cola's to the ones that pay/paid for it all. Why do we never hear of reducing the size of Governments? It is well past time for We the People to demand changes in how things are done in D.C. and State and local Governments. Don't ask/tell me to give up anything I have paid for. This system was designed to make more money for the Government because at the time of it's design, people only lived about two years longer than their retirement on average. So now they have made a bad business deal and want us to pay for it. That is not how the real world works, you make a bad business decision, you lose, but they want us to lose. I say screw them. I could care less if someone draws more than they paid in. This crap was started long before most of us were even born. If anyone has to give something it should be the Government. Don't penalize me for your stupid decisions. We pay for it all and we are the 1st they want to sacrifice. I know my post is somewhat redundant, but I would like to reiterate to people we are being robbed, and then ask/told to give up on the back side. I mean really, if I walked you into the bank with a gun and demanded your money before you even get it it is stealing. Same thing being done to us every payday.
Concerned Americanof NC4:59PM February 12, 2012
There is of course no mention of the 5-7% compounded of interest over the course of a lifetime had the money been invested reasonably instead of the monies taken from American's paychecks. Thus, there would be no disparity of the 'pay-in/out' as cited in this article; oversights abound!
s rowan wilson, mbaof NV1:13PM December 30, 2011
THAT DOESN'T TAKE INTO CONSIDERATION WHAT YOU WOULD HAVE RECEIVED ON INTEREST OVER THE 43 YEARS.
JOE MOOREof TN10:55AM December 09, 2011
Women is plural. Woman is singular.
spellcheckof ND11:37PM October 17, 2011
If the average worker puts in - even very conservatively - say 2400 a year over 45 years or like 108K over his lifetime, and the federal government can't turn that into at lease 250K in 45 years, then not only have they screwed up budgeting, but they've screwed up retirement planning also. They should be investing in t-bills or something, even those give you a minimum of 3% over 30 years, and making money off the social security taxes to pay for the benefits. Otherwise, they should quit taking that money from us and we should be putting it in 401(k)s or IRAs because we could do one hell of a lot better for ourselves than the government seems capable of doing at this point.
jenniferof TX4:38PM October 04, 2011
I would like to get some feed back similar to this subject. I worked in USA for 13 yrs and paid my taxes and social security. Now I am living and working in different country and I dont want to retire in the states. Can or could I get my SS money back?
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Al P of MA 9:30PM August 14, 2012
Jerald of TN 9:32PM July 18, 2012
Amanda of CA 3:09PM May 03, 2012
IBAXNU of CA 4:48AM February 23, 2012
Concerned American of NC 4:59PM February 12, 2012
s rowan wilson, mba of NV 1:13PM December 30, 2011
JOE MOORE of TN 10:55AM December 09, 2011
spellcheck of ND 11:37PM October 17, 2011
jennifer of TX 4:38PM October 04, 2011
von dutch 6:04AM September 22, 2011