You might not 'get it'.....I will turn 62 in a year and 3 months. I will sign up for SS. Do I desperately need it? Not really at this time. I only worked 31 years according to their formula, so I will get somewhat reduced benefits, but still fairly decent. I will pay taxes on at least half of it, and before long, on most of it. So I will get X, and before long they will take 23% or 30% of it back. Give with one hand, take back with the other. I have no kids. My sister and hubby are working, and their 2 kids are working and paying in. I really have no problem taking it. Between my employer and myself, I figure that over $300,000 (in todays dollars) not including interest was paid in. I'd have to live 25 more years to get that much back. They did put aside all the contributions in a lock box, right? It wasn't a Ponzi type scheme where they spent the current money and never put it aside for the future, right? I shouldn't feel guilty getting back the money they put aside for me, right? In any event, I am planning on collecting it at 62. Who knows how long I will live. My dad didn't make it to 74, all but one of his brothers kicked the bucket long before that age. And I'll sign up for Medicare at 65....t.
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