No. of Recommendations: 2
Rayvt,


Oddly enough, FDR knew this and that's exactly why he had SS set up the way it is. He in fact said that if SS was something other that "pay in when you are working and get a check when you retire", then people would (rightly) call it welfare and would disdain it. Not being means- tested was a critical part of Social Security.


The above claims are simply not true.

SS pays for disability income, wouldn't you say that's somewhat of a welfare program ?

I don't expect to live to SS retirement age. I want to retire before 62, maybe between age 50 and 55. When can I get my SS retirement money back ? Many people don't make it to that age either even if they don't know it. And don't tell me about SS survivor benefits, I can't be legally married so my partner won't get survivor benefits if I die before him.

The truth is that SS is and has always been a system of redistribution of wealth. Taxes paid today pay for current retirees' retirement. Not for your own retirement.
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.