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Esteemed Contributor
Posts: 5,759
Registered: ‎03-09-2010

Re: Just got my Social Security info for 2018


@LibbyAnnE wrote:

 Social Security is not a job. One doesn't expect a raise. Yes I am concerned about the government giving tax breaks to the wealthy and cutting programs like Medicare for those who need it, but when my husband and I got married on the 1970s, we did our research on the economy and on demographics and simply assumed that by the time we retired – about now – that there would not be Social Security for us. So we planned and saved and invested accordingly. I'm grateful for anything I receive and, yes, I know I'm simply getting my money back because I paid in for decades, but a raise? Just be glad if there is any social security at all in a few years. Scary and unfair, but true.


 

The smart thing to do is what you and your husband did. However some people face unforeseen circumstances (like health issues, loss of jobs over the years etc etc) so some people delete their savings with just one tragedy. For instance my mom died at a younger age than most, and my dad had to close their business. Anyway my dad worked then at a job where he worked 6 days a week until he was 77 just so he could keep busy and would have plenty of money, not just depend on Social Security. So yeah there are un-forseen circumstances. So i feel bad for people that cant make ends meat as you said in the beginning of your post.

And in the end, the love you take is equal to the love you make~ The Beatles
Honored Contributor
Posts: 26,997
Registered: ‎03-12-2010

Re: Just got my Social Security info for 2018

@KatCat1 I worked for the government so didn't have SS taken out.  I didn't apply for his until I was old(er) because my investments would make the amount of money from SS for every $2 I'd have to give back at least $1.  So I waited until my daughter finally made me submit for it.

 

They put like $11,000 into my account right away.  I have no idea I think it was back dated or something.  Then it went to $2,200 (maybe a little more), then back to around $1,800 or so.

 

I just got notice that it's going back up to a little over $2,200 per month.  I'm sure it will probably change because my money is in stocks, etc and the stock market is way, way up.  

 

I have accountants who handle this stuff and my daughter oversees all of it.

 

I don't understand it but my daughter and the accountants do.  I help my other two daughters a lot and my little sisters and so on.  I think of it as my daughter's money anyway, their Dad left for them.

 

GOD has been good to me so I try to help others.  Most people these days needs money, so that's how I'm able to help them.  That's how I look at it.

 

My late husband was the same way, so I'm just doing what he would be doing if he were alive.

 

I think it's terrible that people have to struggle so much just to keep going every day.  I know first hand what that was like when I lived with my sister (single) with 4 children.  You never forget those struggles.  Somehow though it was easier then.  People didn't make as much money but we didn't get any assistance from the government.  This was back in the very early 60's and my sister worked 2 jobs every single day.  I went to high school and took care of the children.  We were a family unit and made it work.  That's what people did back then.  No government help at all.  You got sick and you went to the Dr when it got really bad and you paid cash for it.  No insurance or government help.

 

I only care about the children getting help.  I don't think any child should be hungry or not have medical care.  That's just how I feel.  

 

Anyway, it always amazed me that of all places the government didn't take out social security at the time. I know it was for their own retirement.  When I quit to have my first baby I used the money (a few thousand dollars) for a down payment for our first house.  

 

I THINK they now take out social security money but I'm not sure about that.

 

I know people were told a long time ago they would be able to live on social security.  My late husband had a specialist set up a retirement account and so on.  He was self employed once he sold his big company.  He was a very, very smart man.

 

Were it not for him and his investments, I know I'd have to work as a Walmart greeter (at my age).  I know how lucky I am.  Sometimes though (if I'm honest) I know it's about choices people make early in life.

 

We could have moved into a big fancy house and bought a lot of fancy cars, etc.  But we didn't.  I know people who buy fancy cars and are house poor.  But that was their choice.

Honored Contributor
Posts: 17,770
Registered: ‎07-21-2011

Re: Just got my Social Security info for 2018

@Annabellethecat,   I thought everyone working had SS taken out.  Your situation is interesting and I am not savvy to it.  All I know is people receiving SS receive the same percentage if there is a raise but that amount would be different depending on your total amount of SS.  

Honored Contributor
Posts: 8,521
Registered: ‎05-01-2010

Re: Just got my Social Security info for 2018

[ Edited ]

Both my parents worked for the government. They did not have social security taken out. They received government pensions not social security.

Honored Contributor
Posts: 16,881
Registered: ‎12-29-2010

Re: Just got my Social Security info for 2018

I don't trust this Government.  I'm saving daily.  I hope I get SS.  

"friends don't let friends drink white zinfandel"
Honored Contributor
Posts: 8,539
Registered: ‎03-09-2010

Re: Just got my Social Security info for 2018

I’m scheduled to receive my first social security payment on December 22nd and I received notification yesterday about my increase for 2018. 

 

I’m happy so far!


Why is it, when I have a 50/50 guess at something, I'm always 100% wrong?
Respected Contributor
Posts: 3,952
Registered: ‎03-11-2010

Re: Just got my Social Security info for 2018

Why do people receive so little money in social security ---- but those FatCats in Washington make $$$$$$$$$$ in bonuses, pensions, and free meals, free cars, free vacations (for them and their families), etc.

Honored Contributor
Posts: 8,532
Registered: ‎09-22-2010

Re: Just got my Social Security info for 2018

@Annabellethecat

 

I agree with you that at a certain income level you should not be able to draw social security.  I think of it like insurance.  I have homeowners insurance that I have paid for years - they don't give me back any of my money even though I have never had a claim.  

Honored Contributor
Posts: 9,281
Registered: ‎03-10-2010

Re: Just got my Social Security info for 2018

Why in the world would would we not give SS at a certain income level?  It is not like insurance. My husband started collecting a year before he is to retire, as he is 71. For over 50 Years he put into it, and not chump change either.  Many people I know donate their SS to a shelter, or food kitchen if they are really wealthy.  Even if you make a lot of money, the health insurance is the pits compared to private mecical we once had...so we will be paying a bit more.  Lord even knows if they will have medical care available, or SS in a few years. 

 

Most retirements do not give you what you once made, you have to make it up with 401k or savings.  The only people I know that get full retirement, free medical for life and other perks are police, fire and some government.

Esteemed Contributor
Posts: 5,301
Registered: ‎03-10-2010

Re: Just got my Social Security info for 2018


@Annabellethecat wrote:

@KatCat1 I worked for the government so didn't have SS taken out.  I didn't apply for his until I was old(er) because my investments would make the amount of money from SS for every $2 I'd have to give back at least $1.  So I waited until my daughter finally made me submit for it.

 

They put like $11,000 into my account right away.  I have no idea I think it was back dated or something.  Then it went to $2,200 (maybe a little more), then back to around $1,800 or so.

 

I just got notice that it's going back up to a little over $2,200 per month.  I'm sure it will probably change because my money is in stocks, etc and the stock market is way, way up.  

 

I have accountants who handle this stuff and my daughter oversees all of it.

 

I don't understand it but my daughter and the accountants do.  I help my other two daughters a lot and my little sisters and so on.  I think of it as my daughter's money anyway, their Dad left for them.

 

GOD has been good to me so I try to help others.  Most people these days needs money, so that's how I'm able to help them.  That's how I look at it.

 

My late husband was the same way, so I'm just doing what he would be doing if he were alive.

 

I think it's terrible that people have to struggle so much just to keep going every day.  I know first hand what that was like when I lived with my sister (single) with 4 children.  You never forget those struggles.  Somehow though it was easier then.  People didn't make as much money but we didn't get any assistance from the government.  This was back in the very early 60's and my sister worked 2 jobs every single day.  I went to high school and took care of the children.  We were a family unit and made it work.  That's what people did back then.  No government help at all.  You got sick and you went to the Dr when it got really bad and you paid cash for it.  No insurance or government help.

 

I only care about the children getting help.  I don't think any child should be hungry or not have medical care.  That's just how I feel.  

 

Anyway, it always amazed me that of all places the government didn't take out social security at the time. I know it was for their own retirement.  When I quit to have my first baby I used the money (a few thousand dollars) for a down payment for our first house.  

 

I THINK they now take out social security money but I'm not sure about that.

 

I know people were told a long time ago they would be able to live on social security.  My late husband had a specialist set up a retirement account and so on.  He was self employed once he sold his big company.  He was a very, very smart man.

 

Were it not for him and his investments, I know I'd have to work as a Walmart greeter (at my age).  I know how lucky I am.  Sometimes though (if I'm honest) I know it's about choices people make early in life.

 

We could have moved into a big fancy house and bought a lot of fancy cars, etc.  But we didn't.  I know people who buy fancy cars and are house poor.  But that was their choice.


Does anyone have any idea why @Annabellethecat's SS would be affected by investments?  I don't see any connection between them.  Isn't SS based only on earnings on which SS was paid by an employer...even if that employer is "self"?

*********************
Keepin' it real.