Social Security

What is social security?? I am sure that everyone knows that social security is a retirement income run by the Social Security Administration, an agency of the federal government. It is a benefit that is often inadequate to maintain a standard of living that matches what you enjoy in your working years.

Did you know that social security is 75 years old today??? Wow!!!! It is young!!!! President Franklin D. Roosevelt signed the old age benefits into law on August 14, 1935. I learned something new again today!!!!

Social security is a unique identifier for a person, be it the doctor, bank, and employer. Did you know that your social security might not be unique to a person??? Why is that??? Because of careless recordkeeping, data input errors, or identity theft!!!! This is really scary!!! We need to be vigilant with our data to make sure it is correct! Years ago, our social security is really sacred.... everyone has been telling us to safeguard it!!!! Nowadays, everybody under the sun wants it, so you really do not know where your number is floating!!!! I remembered the first time someone asked me for my social security number, I did not want to part with it. I think I was arguing with the bank for at least half an hour!!! Who won??? Shucks!!!! The bank did!!!! I could not proceed with my business unless I give them my number!!! Oh,well, a lot of things have really changed!!!!

Do you know what the numbers on our social security designate??? Not really. Well, the first 3 numbers identifies where you lived at the time you received your social security. Further west you lived, the higher the number is!!! There are no numbers starting at 900-999. The middle 2 numbers identifies when your card was issued. There are no middle digits of 00!!! Final 4 digits are assigned numerically!!! How about that??? That is what I like with your blogs, I always learn something new!! Thank you very much!!!! Bravo!!!! Take a bow!!!!

The earliest you can collect from social secutity as at 62 years, but it is only partial benefits!! And it seems that the retirement age keeps on climbing!!! Pretty soon, it will be 67, 68, or maybe 70!!!! Goodness gracious, if that happens, people will surely not enjoy their golden years!!!! People will be too old!!!! Isn't that sad????

What is also sad is the health of the social security!!! It has a gloomy forecast because of the recession. Since 1983, money being put out is exceeding the money coming in!!! By the year 2037, the trust fund will be depleted as more people retire!!!! That is sooo scary for the generations to come!!!

What is the government going to do??? They are thinking of increasing taxes or decreasing the benefits!!! That is crazy!!! People cannot afford more taxes taken out of their paychecks, and seniors cannot afford to have a cut in the benefits they are receiving!!!! But the government already started the tightening last year. This is the first time that the seniors who were receiving social security did not get any cost of living allowance!!!! Will that be the case this year??? Hopefully not!!!

What can you do about it??? Nothing really!!! They will do what they want to do!!! Let us just hope and pray that it will be beneficial and good for everyone, not only to the seniors but to all generations to come!!!!
Posted by vs at 8/14/2010 9:13 AM Add Comment