Ray From Cleveland
Diamond Member
- Aug 16, 2015
- 97,215
- 37,439
No, you don't necessarily lose it if you die early because your spouse can draw survivor benefits for life and if you have minor children they can draw survivor benefits till there're 18. And if you happen to become disable before you die, you can draw disability benefits. However, one of the greatest benefits of social security is it is protect your retirement from the biggest danger of all, you. Millions of Americans find compelling reasons to raid their retirement account time after time, leaving nothing but social security to live on.That depends. your spouse will be able to draw your social security for life and if you have dependents, they will be able to draw survivors benefits.Him and ray would never be able to retire without social security.The link says 50% died in poverty...
And I don’t believe they would have done better not paying into the program. Chances are they would have spent the money and either they would live in their kids basement, and blame democrats, or they’d become welfare seniors.
And they would justify by saying they paid into the system and never took out. No shit losers most people will never take out. You’re not supposed to take out. But they’ll swallow their pride and take the handout.
And still they’ll blame liberals
Try this: Every other year or so, SS sends out a pamphlet with a history of your (and your employers) contributions, and gives you an amount of what you will receive upon retirement. Now take that pamphlet to a reputable investment company, and ask what you would be worth at retirement had you invested all that money in a conservative growth fund.
Then tell me how great SS is.
I plan on retiring at 62. But if I decide to work until 65, and on my birthday, I drop dead of a heart attack blowing out my candles, my family will financially benefit.
My nephew and niece will get my rental property. They will get my car. They will get anything I have in my bank accounts. They will get my IRA fund. What they won't see is one penny of the thousands I put into Social Security; not one dime.
So who gets my money? People I've never met, perhaps people that don't even live in my state, people that can never say thank you for all the money me and my employers put in for them. My family? They get nothing.
You can't compare social security returns with that of an investment company because they are completely different. It's an apples and oranges comparison. Social Security includes disability benefits and provides survivor benefits for both your spouse and all your children in the event of your death. These are very significant benefits. My daughter's husband died about 6 years ago. She and her 4 children are each receiving over a thousand dollars a month. That's more than he has ever paid into Social Security and it can continue throughout her life and for the kids until they are 18.
Social Security is risk free compared any other investment. It requires no knowledge of investments and is recession proof. You can lose your investments because of bad decisions but you can't lose your social security.
The downside is that it will not build an estate and will never allow you to live a life of luxury. For that you need to invest.
Everything has a risk to it. The difference between government and private industry is the risk is passed on to the taxpayers.
If you invest in a family fund; that is to say, an investment company who moves your money around based on the economy, you won't lose anything, and if you do, it would only be temporary.
For instance in this last recession, yes, my IRA account did suffer. But I wasn't going to need my retirement account for many years to come. What happened is it was a great benefit to me in the long run because my investment company was able to buy more shares per pay period. It was like getting in on a three-for-one sale.
Social Security is much less risk, but also pays much less if you live to the average lifespan in the US. If you live longer, you made out. If you live shorter, you lose just like in the market.
Social Security is not a retirement plan and was never meant to be. It provides a bare bones existence. Without it millions of older Americans would be destitute.
So what happens when you die early with no dependents? And from what I understand, the spouse only gets a fraction of her (or his) spouses SS check. That's besides the fact most spouses have their own SS account, and them benefiting off their spouses benefits only drains the system even faster.
Social Security is a long-term Ponzi scheme. Eventually, people in the end are going to lose out because there won't be any money left.