if you really think social security will be around for you when you retire, you're kidding yourself. Unless plans change in our government, when the baby boomers start to retire, cash going out will exceed the cash coming into S.S. Meaning it will be operating in the negitive. and this happening within the next few years. By 2016 it will be permenantly operating in the negitive, eventually running out of funds soon after.

So in short, dont bank on getting your social security money you paid in..........that is unless the government changes their spending habbits (i.e. $700 billion for a war in iraq since 2003) or they get china to pay off our social security debt.

 

Well Kevin0195, you need to read a post before you reply to one. In my post I clearly stated that I have two years to go until I retire from full time steering wheel holding.

This means I will be eligible for social security and I will start to draw mine. I have paid in to the system since I was 15 years old and I plan to live at least another twenty years or so, God willing, and my health stays good.

If you were old enough to receive social security advices in the mail as I do you would notice that yes the system is suffering from underfunding and changes must be made to keep it solvent.

Where can I find the data on it running in the negative in 2016? All my checking and discussions with people who are in positions within the social security administration have not once stated this timeline to me.

Codger

 

where can you find data? look around. Social Security goes bankrupt

there is a link for just one. Notice he says "the federal government projected that by 2017, Social Security would begin paying out more in benefits than it generates in revenues"...pretty sure that means bad news.

want another one? Social Security and Medicare Projections: 2009 - Brief Analysis #662

pull your head out of the sand if you think social security will be around in a few more years.

 

Planning for my retirement I never include Social Security. Anyone that thinks this program will be here given the out of control spending and refusal by congress to address this problem due to the lobbyists is dreaming.