re: Spinoff: SS vs welfare, do you know where your money goes?

So you mean like an email account? Is that what you've been arguing this entire time?

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Nowhere in there does it say you have your own account.

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See my last post on how to follow your own account. You will be able to

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Keep track of your earnings and verify them every year;
Get an estimate of your future benefits if you are still working;
Get a letter with proof of your benefits if you currently receive them;
and Much more!

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I hope that helps.

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Keep track of your earnings

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Right, what they have paid you, not some mythical return on YOUR money

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Get an estimate of future benefits

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Again, defined benefit, which comes from a pool of all worker's money

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I am also a retirement planner, who deals with SS daily

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May I assume that you only deal with the parts where FICA is handled on the company level? Not like a tax attorney, right?

My education REALLY started back when I became disabled. At age 57 I found myself collecting full disability and feeling like I was taking welfare. That was the beginning of a street level education that few people get before 65 (66 now I think and rising). At 65 I was switched over to SS. That is just a difference on paper.

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Again, defined benefit, which comes from a pool of all worker's money

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So the guy behind the desk that asked for my name and SSN, looked on his monitor and then told me how much I would get a month was looking at "a pool of all worker's money"? Why did he ask for my personal info??

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I don't mean to adjitate, but it is spelled "agitate"

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What about "peice"?

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So the guy behind the desk that asked for my name and SSN, looked on his monitor and then told me how much I would get a month was looking at "a pool of all worker's money"? Why did he ask for my personal info??

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He was looking for a date but I sent him this thread so you probably won't hear from him.

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What I am trying to say, for about the 55th time today, is that there is no certain amount of money set aside solely in your name.

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And for the 56th time I'm going to say I have no concern for the existence of a total in my account. I have an account. I paid into it for 40 years and my employers paid into it using my SSN. The money left their hands to go to my account and is part of my compensation package. If they choose to keep track or not is simply the rules they set up and has no bearing on the existence of an account.

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If there was a separate account for all of the geriatrics, they wouldn't be bleeding the system dry because all they could access were their own funds

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And bingo! There is your beef. We are bleeding the system. Guess what. The politicians bled the system a long time ago. It's empty ... bankrupt. They cobble together some kind of budget every once in a while which has some funding in it for SS, Medicare, etc. I get my share of the money that grudgingly put back in. If the politicians had not raided this system it would contain plenty of money for your future while easily paying my monthly benefits.

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Government Owes $2.7 Trillion to Social Security

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chew on this

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Part of what I do is help people decide when they should start drawing SS. I have in the past done payroll, tax returns, etc that all involved SS laws

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But not at the tax attorney level! My personal accountant was of little help when it came to what I wanted to know. My dil, an attorney directed me to an attorney that specialized in this.

I sense you have more of an axe to grind than interested in providing useful info for the laymen.

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SS is money received by people who contributed to the pool.

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Sure, until they receive more than they contributed.

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According to my estimated benefits, I will have to live to be 112 years old to receive the total amount I have contributed to the "pool". I guess the welfare folks get the rest. Bunch of poorly informed experts on here.

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Then you have absolutely nothing to worry about and Scruffy's statement doesn't apply to you.

Scruffy isn't sure why you are so angry. You apparently won't become a welfare recipient.

You will receive no more than what you put in.