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92bDad · 07-22-2008, 02:03 PM

visit www.ssa.gov/estimator

You can go through and calculate what you might get from SSN upon retirement.

Saddly, looks like I will see about 1500 per month...I can't live on 1500 per month today, how bad will that look in 27 years?

We need to drastically rethink how we do SSN.

I am willing to pay the cost by opening up an individual SSN account that is invested and returns at a higher rate than the SSN, while still supplying funds to take care of the current folks under the SSN.

My hope would be that when I start collecting, we could be off of the SSN Welfare system and that everyone will be under some type of true retirement system.

Our individual accounts can be passed onto our spouse and children and grandchildren.

If I die, before I retire...all that money is lost...but if its a retirement account, then what I have invested during my life in my working years stays in my family, as it should.

And the account would net me more on a monthly basis than the SSN system will.

Now fortunately, I have a 401K going and I am getting ready to start and Individual IRA so that I don't get hit with more taxes when I am old.

The problem with the 401K plan is that although it is tax free now, I will pay the tax rate when I pull the money out upon retirement.

With an individual IRA plan, I pay taxes on my income, even while I invest into the IRA, but i will NOT pay taxes when I pull the money out in the future.

This whole freakin tax thing is nuts...the older I get, the more money I am able to acquire through work and investment the more the Government wants to acquire from me.

I pay more in taxes on yearly basis today, than I earned my first year in the military in 1986!!! Not to mention a MUCH HIGHER %!!!

I still want to know how I, a paying citizen can AUDIT the government? I want to know where every penny that I have paid goes. Let me voice my opinion about what is wasteful spending and what is not...it's my dollar, why should I not get a voice on where it goes?

07-22-2008, 02:03 PM	#1
92bDad Platinum Member Join Date: Oct 2006 Location: TX Posts: 2,505	SSN Site visit www.ssa.gov/estimator You can go through and calculate what you might get from SSN upon retirement. Saddly, looks like I will see about 1500 per month...I can't live on 1500 per month today, how bad will that look in 27 years? We need to drastically rethink how we do SSN. I am willing to pay the cost by opening up an individual SSN account that is invested and returns at a higher rate than the SSN, while still supplying funds to take care of the current folks under the SSN. My hope would be that when I start collecting, we could be off of the SSN Welfare system and that everyone will be under some type of true retirement system. Our individual accounts can be passed onto our spouse and children and grandchildren. If I die, before I retire...all that money is lost...but if its a retirement account, then what I have invested during my life in my working years stays in my family, as it should. And the account would net me more on a monthly basis than the SSN system will. Now fortunately, I have a 401K going and I am getting ready to start and Individual IRA so that I don't get hit with more taxes when I am old. The problem with the 401K plan is that although it is tax free now, I will pay the tax rate when I pull the money out upon retirement. With an individual IRA plan, I pay taxes on my income, even while I invest into the IRA, but i will NOT pay taxes when I pull the money out in the future. This whole freakin tax thing is nuts...the older I get, the more money I am able to acquire through work and investment the more the Government wants to acquire from me. I pay more in taxes on yearly basis today, than I earned my first year in the military in 1986!!! Not to mention a MUCH HIGHER %!!! I still want to know how I, a paying citizen can AUDIT the government? I want to know where every penny that I have paid goes. Let me voice my opinion about what is wasteful spending and what is not...it's my dollar, why should I not get a voice on where it goes? Last edited by 92bDad; 07-22-2008 at 02:03 PM.