I got a mailing from the Social Security Administration about the huge benefit I’m entitled to when I turn 62. My payout would be $1,108 per month. Anyone want to place some bets on how likely I will be to ever see that figure?
It would seem to me that either I’m going to get that amount, only inflation will be so bad that it will really be like $20 now, or, I just flat out won’t see that kind of benefit.
The letter in the notice from the commissioner even says that at the current level of benefits they won’t have enough funds to pay full benefits, after 2041. Of course, that is assuming that they had a trust fund, which they really don’t.
What they have is a bunch of IOUs from Uncle Sam. If our “leaders” had been halfway intelligent they could have learned how to live on a simple budget (yeah right) and socked that money away, instead of using it every year and issuing IOUs for the future. Now, when they have to tap the trust fund, what they really mean is that the Treasury will have to either cover the additional costs in the yearly budget, or issue more debt.
Sounds like a good plan
From reading through it, given my feeling on the future of social security, I would be better off to figure out a way to become disabled so I could claim my $1,787 per month in benefits now rather than wait for the uncertain future.
Heck, according to the $3,245 benefit my family would be eligible for if I died I think they would be better off if I was dead than alive. Hang on, let me do the math…carry the five..OK, well not really, but it’s pretty close. They certainly wouldn’t eat as well.
Now, how should I go about getting myself disabled?