Wednesday, May 18, 2011

Social Insecurity


In a few months I am eligible to apply for Social Security. For me it is better named Social Insecurity.

In my case, my finances are insecure if I had to live on this pittance. I am insecure about it paying off and the death benefit is a joke.

I know, I know, many people live on that amount and it is important to them but I never counted on getting anything back from my investment. Too many people of my parent's generation were led to believe they could use their SS to live on until their death.

What a bunch of bunk. Maybe if you lived in poverty and never made anything of yourself it would work but to me it is a form of socialism I don't believe in. I never bought into it though I sure paid into it.

Yes I was a teacher and paid heavily into state teachers retirement along with the employers I worked for. I could have taken their contribution and built a hefty retirement plan but that is not how it works in America. Because I have this plan I can double dip but it amounts to gas money for me that I could burn up in a day or two at today's inflated prices.

So if I sound like sour grapes on the issue I guess I am. To me the money should all go to our soldiers who kept us free and to those who are truly disabled and can't make it on their own. Those two groups are few and far between but they are extremely important to me. That's the ones we should take care of.

Farmers? I don't know. I know my dad never had any cash to spend until he qualified for social security so I sure don't begrudge the amount he received. I know many retired farmers who live off their social security benefits and they wouldn't have much if they didn't. I suppose you could lump a whole bunch of people into that category but farmers are about as important as soldiers to me but I am biased as I love farmers. They are the backbone of this country economically and morally as I see it.

I remember him wrangling over whether to wait for the full benefit or taking it early. The amount is so small for me either way I might as well take it at 62.

Age to receive full Social Security benefits

Year of birth
Full retirement age

1943-1954
66

1955
66 and 2 months

1956
66 and 4 months

1957
66 and 6 months

1958
66 and 8 months

1959
66 and 10 months

1960 and later
67

I am sure coal miners feel the same way. There becomes the problem, soon you have every job description fighting for a pot or maybe it's a cup of money for 40 years or so of work and staying out of trouble.

So I guess I will be applying for my "gas money" in a few months.

How about you?

Ed

2 comments:

  1. You can't fool us Ed, we know you ain't that old.

    ReplyDelete