Wednesday, May 13, 2009

SOCIAL SECURITY AT RISK

I arrived home from my last appointment at about eight o'clock this evening, sat down to dinner and read this morning's Columbus Dispatch. The front page article "Social Security, Medicare at Risk", brought back some memories.

Years ago I had several over 62 year old individuals working for me who would have their commission checks held and then request the checks during the following year. At this time if you made over a certain amount of income during a year, I think it was $12,000, the agents could no longer receive their Social Security checks or would have to pay back the Social Security funds they had received.

Sometime during the past, the rules of Social Security changed. A person could make as much money possible and still receive their monthly Social Security funding. Something is not right about this, as an example: a person who makes an income of $50,000 per year. not from investments, but actual income can receive their Social Security also.

The article above if I read it correctly is saying Social Security will be out of funding about the time I should be of age to receive my retirement funding. I have been paying into Social Security since eighth grade.

Please do not get me wrong, I am not talking about Medicare. I think everyone over 62 years old, should be eligible for Medicare no matter what their income.

Should Social Security be paid to individuals that are gainfully working?

I can see a person receiving Social Security no matter what they have in their personal retirement accounts and savings or working because they need to supplement their Social Security income to a certain extent. I can not see someone receiving Social Security, because they deserve it while making thousands of dollars and taking it away from me.

2 comments:

Rgf said...

What a very liberal idea for you...If you should decide to keep working and not collect your SS benefits, who should get that money you've paid into SS for the past 45+ years?

Patrick Guanciale said...

Unlike many Americans, I think the important issue will be health insurance even if I have earned income that would not allow me to receive Social Security. Notice I did not say earned investment income, then one should receive your Social Security bennies. The past 45+ years would have been worth it with knowing I will have health care after 66.6 months for the remainder of my life.