Social Security Benefits...What I Didn't Know

[Dennis Heaton]

As some of you may know, I am an "older" Dad, and I have a pre-teen Son. Next month I will be getting my first SS Retirement Check. I had nooooo clue whatsoever when I applied online for my benefits, that my Son was also entitled to benefits. I thought I had to be six feet under before he would receive any survivor benefits. I just learned this morning that my Son will be receiving 75% of what my check will be each month. My youngest Son will be making more money at 12 yrs old than I did when I joined the Air Force at 20.

Had I known this 10-15 years ago, I would have had about a dozen or so more kids!!!

[Bunty]

Sounds too good to be true.

[hoya]

Adopt me please.

[Dennis Heaton]

Adopt me please.

LOL!!! How bout I bequeath my "1905 Claude A. Hatcher Gas Station Thermometer" to you in my Will?

[RadicalModerate]

Geez . . . Talk about obeying "the letter rather than the spirit of the law" . . . Like, Dude . . . =)
(btw: i just heard, on a local NPR affiliate, that the "obamacare" registration website is "down for routine maintenance." this was right after i heard Joe Biden (on The Rachael Ray show) say that "It's not too late . . . It's a good thing . . . Be sure to register . . . today." =)

[catcherinthewry]

I just learned this morning that my Son will be receiving 75% of what my check will be each month. My youngest Son will be making more money at 12 yrs old than I did when I joined the Air Force at 20.

How nice that your son will get a check although he's never put anything into the system. I've been paying in since I was 16 but there's a good chance it won't be around when I retire. Something needs to be fixed.

[Dennis Heaton]

How nice that your son will get a check although he's never put anything into the system. I've been paying in since I was 16 but there's a good chance it won't be around when I retire. Something needs to be fixed.

catcherinthewry...It's for that reason that I am curious where the heck is the money coming from? My Dad passed away when I was 13 and my Mom passed away when I was 16...I didn't get a penny. I guess that explains why I didn't know anything about this benefit until AFTER I applied for mine.

[stick47]

They always talk about Social Security running out of money. Wonder why they've never said that Welfare is running out of money??

[Jersey Boss]

Or weapons systems DoD does not want, but Congress finds money for anyway.

[catcherinthewry]

catcherinthewry...It's for that reason that I am curious where the heck is the money coming from? My Dad passed away when I was 13 and my Mom passed away when I was 16...I didn't get a penny. I guess that explains why I didn't know anything about this benefit until AFTER I applied for mine.

I'm not sure why you didn't receive anything when you were young, maybe you did but weren't aware of it. My stepdaughter received SS benefits after her father died until I married her mother. This I understand. Her father had paid into the system, but had never taken anything out.

If I were you I would double check on this. If your son is getting benefits that he's not entitled to (even through no fault of his own) he will have to pay back the money he received plus interest. This happened to us after we didn't notify the SSA soon enough after our wedding. We received some benefits but never cashed the checks, but were still expected to pay interest on what we had received.

[Just the facts]

catcherinthewry...It's for that reason that I am curious where the heck is the money coming from? My Dad passed away when I was 13 and my Mom passed away when I was 16...I didn't get a penny. I guess that explains why I didn't know anything about this benefit until AFTER I applied for mine.

When your dad passed you should have received a check until you turned 18. Not sure about your mother. My dad died when I was 12 and my mom got a social security for me and my sister until we each turned 18.

As for where the money is coming from - there is a misunderstanding that whatever money you collect in social security comes from the money you have been paying in. That is simply not true. The money you receive today came from someone's paycheck last month. Current payees pay for current beneficiaries. When Catcherinthewry retires Social Security will still be there but he will probably never receive in benefits what he paid in, and most likely it won't even be close. That is just how pyramid schemes work - of which Social Security is the ultimate pyramid scheme.

[Jersey Boss]

Don't forget that there are monies paid into the system that are not paid out due to death or those people paying in but are prohibited by law from getting it out.

[Servicetech571]

They always talk about Social Security running out of money. Wonder why they've never said that Welfare is running out of money??

Because people on Welfare are transitioning to SSI/SSDI in record numbers:

Back during the presidential campaign, Mitt Romney tried to make the argument that President Obama was soft on welfare reform. He missed the target. Welfare abuse has shifted to Social Security Disability.

Chuck Lane has a very good column about this new form of abuse in the Washington Post today. The Clinton welfare reform—Temporary Aid to Needy Families—remains what it was: a humane way to move people from dependency to work. But a great many people have done an end-run around the system, checking into Social Security Disability—which has no work requirement—and never checking out.

Reform Social Security Disability | TIME.com

[Dennis Heaton]

Because people on Welfare are transitioning to SSI/SSDI in record numbers.

You are sooooo right on about that!

[Servicetech571]

You are sooooo right on about that!

Tom Colburn is the only politican that has even mentioned it, most others simply don't care. It's a "secret welfare" that not many know about.
Okla. Sen: U.S. disability system being "gamed" - CBS News