Thanks, yes she is on the lower income scale, never married, no kids.


I’ll remind her again, she does have her next Mayo consultation rather soon, another part of the decision.

Related

https://www.theepochtimes.com/...gn=roundup&utm_term=

Treasury Warns Social Security Fund Will Run Out of Money by 2033

A new government report shows that the Social Security system’s main trust fund will be depleted by 2033, one year sooner than a prior estimate, adding to concerns about the fund’s solvency.

The Treasury Department has released a report following a meeting of the Social Security Board of Trustees, in which it warns that the federal Old-Age and Survivors Insurance (OASI) Trust Fund will become “inadequate” within the next 10 years.

The OASI trust fund is primarily used to pay retirement, spousal, and survivor benefits to eligible individuals and their families.

A report detailing the Trustees’ findings (pdf) shows that the worsened financial situation of Social Security is mostly because of a deteriorating economic picture, in part due to inflation. Projections for economic output and labor productivity have been downgraded by around 3 percent compared to last year’s estimates, bringing forward the date by which the fund will run out of money.

Treasury Secretary Janet Yellen said in a March 31 letter (pdf) that the OASI trust fund’s “reserves will fall below 20 percent of annual cost by the beginning of calendar year 2033 and will become depleted in 2033 in the absence of legislation to address this imbalance between scheduled benefits and revenue.”

cont...

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This issue is currently being ignored by both parties. A very small number of Republicans have talked about it. Otherwise, crickets. What has happened in the past over and over again is one or two high profile Republicans will speak out publicly about the issue. They will then present a proposal to deal with it. The Republicans always seem to go first with proposals. Democrats then promptly carpet bomb all Republicans with statements about how Republicans want to starve granny to death and shove all the old folks off a cliff.

So what to do? I would be fine with Republicans generally (or the 2024 Presidential nominee specifically) simply state the problem. Then be honest and state that they look forward to hear what the Democrat proposals are. Let them go first.

I received my first social security deposit today. After all the hand wringing and wondering the time has come. I'm relieved and happy to start to get some of this back.

quote:

A very small number of Republicans have talked about it. Otherwise, crickets. What has happened in the past over and over again is one or two high profile Republicans will speak out publicly about the issue. They will then present a proposal to deal with it. The Republicans always seem to go first with proposals. Democrats then promptly carpet bomb all Republicans with statements about how Republicans want to starve granny to death and shove all the old folks off a cliff.

quote:

Originally posted by 6guns:
I received my first social security deposit today. After all the hand wringing and wondering the time has come. I'm relieved and happy to start to get some of this back.

I remember that feeling . The process was so simple and painless .

quote:

Originally posted by 6guns:
I received my first social security deposit today. After all the hand wringing and wondering the time has come. I'm relieved and happy to start to get some of this back.

Congrats. I applied a couple of weeks ago online, I'm slated to get my first deposit in June.

Can always tell it's a Wednesday. Bunch o' old folks at the feed store.

I've heard it's like clockwork.

This isn't relevant. Social Security is in deficit, and is likely already drawing from the trust fund. Since the trust fund is 100% invested in Treasury Bonds, the question becomes, where is Treasury getting the money to pay the SS Admin? Since the general fund is hugely in deficit, it must be either borrowing the money or the Fed is whipping it up out of nothing (I'd say printing it, but nowadays even ink on paper is not required.)

So SS is basically already as insolvent as the rest of the Federal Government. As long as the government can continue to borrow or create money, and that money is accepted, SS can be propped up. Once that is no longer possible, SS collapses. How much is in the figment of accounting imagination knows as the Social Security Trust Fund is not particularly relevant to anything.

quote:

Originally posted by Fed161:
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This issue is currently being ignored by both parties. A very small number of Republicans have talked about it. Otherwise, crickets. What has happened in the past over and over again is one or two high profile Republicans will speak out publicly about the issue. They will then present a proposal to deal with it. The Republicans always seem to go first with proposals. Democrats then promptly carpet bomb all Republicans with statements about how Republicans want to starve granny to death and shove all the old folks off a cliff.

So what to do? I would be fine with Republicans generally (or the 2024 Presidential nominee specifically) simply state the problem. Then be honest and state that they look forward to hear what the Democrat proposals are. Let them go first.

quote:

So SS is basically already as insolvent as the rest of the Federal Government. As long as the government can continue to borrow or create money, and that money is accepted, SS can be propped up. Once that is no longer possible, SS collapses.

Our unlimited borrowing capacity is due largely to the dollar being the world's reserve currency. BRICS is trying to change that. We can still print all the money we want, of course, but we won't have the rest of the world to absorb our debt.

quote:

Originally posted by BBMW:
So SS is basically already as insolvent as the rest of the Federal Government. As long as the government can continue to borrow or create money, and that money is accepted, SS can be propped up. Once that is no longer possible, SS collapses.

The very reason why I'm getting my S.S. money now. Not waiting until I'm 67 years old, screw that.

^^^ Yep, I'm 64 1/2

quote:

Originally posted by 6guns:
I've heard it's like clockwork.

That was my experience when I started a few years ago, but something changed in the last couple of months.

The checks have been arriving a few days (2-3) earlier in the month. I'd expect this during the holidays, but we're talking March and April

I got "retired" from a company about 3 years earlier than I would have hoped (to get to Medicare and also my full retirement age). I wanted to find a way to retire early instead of starting a new learning curve only to retire again. As a widower I chose to take my wife's survivors benefits (at a lower level) and work p/t for gas money. I made a telephone appointment, and have scheduled to switch to my account for a decent raise. After full retirement age your payment goes up about 8% a year and I've banked about 15 months of increases.

Though he likely didn't address me, I've read previous SS posts from Fed161 to help me make that plan, many thanks!

para, any news about your filing?

Yeah, everything's cool

Glad to hear it!

I think I know the answer already, but can you carry in an SSA office?

quote:

Originally posted by parabellum:
I think I know the answer already, but can you carry in an SSA office?

Nope...federal facility