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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 58827  
Subject: Re: Claiming SS Without Guilt Date: 3/16/2007 10:42 AM
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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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