Where did that $$ go?

Discussion in 'General Chat' started by rockin'robin, Apr 15, 2017.

  1. Calvin

    Calvin In Hazzard County Premium Member

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  2. DeafDucky

    DeafDucky Well-Known Member

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    Yup. One of my friend's kids had survivor benefits from their father. Two of the three got it until 18. The third received it until he was 21- only because a) he didn't graduate til then and b)he does have a disability.

    I think sometimes you can try to get it if you are still in college but that's hard to get- not sure. (or is that child support I'm thinking of....)
     
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  3. LoveBlue

    LoveBlue Well-Known Member

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    I don't remember all the rules, but know my kids stopped getting theirs when they turned 18 and/or finished high school (had one of each scenario). They both went to college right out of HS.
    Hmm, and this was the SSDI as my oldest was in college when my husband died. She did not get survivor benefit, but youngest did (or the SSDI was extended).
     
  4. rockin'robin

    rockin'robin Well-Known Member

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    Let's say...you're 60-something, not yet eligible for retirement...worked most all your Life...not married, (or divorced), no kids. Paid in to SS...die of a heart attack...where does all that $$ go that you paid in?...
     
  5. rockin'robin

    rockin'robin Well-Known Member

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    When my mother passed in '62...leaving 6 kids...all I got was around $300.00 from her Life Insurance and $28.00 a month until I became 18....LOL...she did work all her Life, sometimes 3 jobs at a time (waitressing).
     
  6. LoveBlue

    LoveBlue Well-Known Member

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    I was able to buy my youngest a car with most of the SS she got. I never touched a dime of it, except to pay off the car loan. When she's ready to take over the car insurance (she pays her portion under my plan already), I'll sell her the car for $1.
     
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  7. Tetracyclone

    Tetracyclone Member

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    It is an insurance POOL. that is what theoretically makes it work. If everyone survived to a ripe old age, even if the money had been invested and protected, there would not be enough. Insurance pool.
     
  8. seb

    seb Well-Known Member

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    Depends on how well it's invested and the rate of return. Also it must only pay out to those who pay into the pool. Most states pension plans today are too generous and pay out too much money to their pensioners: if you listen to the people running the pensions they say they need an annual return of around 8% to adequately fund the amount they pay out. However, this has been proven not to be enough and the experts have said for those pensions that are paying 70,80, 90 or 95% of base pay to their employees when they retire, they have said the return would have to be in the neighborhood of 30-40% to fund the pensions, which is totally unattainable even with the best firms doing the investing. SS pays nothing like what government pensions do, yet they take out more than half the amount from peoples pay checks than the govt. pensioners pay into their plans, so to keep it funded would require a much lower return.
     
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  9. sonocativo

    sonocativo Well-Known Member

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    False to a point. That pool is Invested and gains interests over the years, the more in it, the more it earns that's compounded over time. People die so that makes more for others, and the government borrows, invests and returns it as well ( although slowly) but the compounded interests on that pool really inflates the amount yearly ( people don't realize that ) yet they think money is lost from government borrowing... its a drop in the bucket really.
     
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  10. sonocativo

    sonocativo Well-Known Member

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    If the people really want to look into something...
    Why do ex- presidents still get $XXX,XXX per year after their term in office for life as well as a hoard of paid secret service agents?
    Why do ex-congress, senate and house still get $XXX,XXX per year for life and insurance plan after they leave their seats?
    and this list goes on for all other government officials.
    WHERE DOES THIS MONEY COME FROM ???
     
  11. Foxrac

    Foxrac Well-Known Member Premium Member

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    In old time, recent US presidents have secret service protection for 10 years after leaving the office but not anymore after law change in 2013, so it means all former presidents have secret service protection for rest of their life now.
     
  12. sonocativo

    sonocativo Well-Known Member

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    No they all still get paid as well.
     
  13. Foxrac

    Foxrac Well-Known Member Premium Member

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  14. Jane B.

    Jane B. Well-Known Member

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    In today's violent world it is probably the best idea. You don't want to read of one of them being killed do you?
     
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  15. Foxrac

    Foxrac Well-Known Member Premium Member

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    I'm just saying about law changes, that it.

    If 1994 law is in place so GWB will lose the secret service protection in 2019 - 10 years after left in Jan 20, 2009.

    Now, GWB will have secret service protection for rest of his life due to concern with terrorist threat and security issue.
     
  16. Reba

    Reba Retired Terp Premium Member

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    Your estate gets $255 in death benefits to pay towards your funeral.
     
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  17. LoveBlue

    LoveBlue Well-Known Member

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    More likely to die from car accident or fall at home. SS going to prevent that?
    Why do we put the president on a high pedestal? It's a 4 to 8 year job and it's only 1/3rd of the governing part at the federal level.
     
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  18. Jane B.

    Jane B. Well-Known Member

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    I think it is a better idea for them to have the Secret Service protection than not because of how much of a target any of them would be if it was generally know they did not have that protection. Even if you are not thinking about them as individual people that do not deserve to be killed think of what the reaction around the world would be if one of them was to die that way.
     
  19. Foxrac

    Foxrac Well-Known Member Premium Member

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    Do you need secret service protection to protect you?
     
  20. rockin'robin

    rockin'robin Well-Known Member

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    LOL...that's a lotz of $$, huh?
     

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