# prepping for Social Security Failure



## Camel923

I do not anticipate to ever be able to collect although I have paid in since I was 16. Social Security: Trust Fund Confetti and the Coming Insolvency Social Security definately needs a robust economy for an extended period of time to be saved. Beast vs Trump! Who will fill or drain the coffers?


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## Smitty901

I skipped SS in my second life after Army. SS is broke regardless of who is in WH.


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## tango

Do not count on SS
Save your own money, start now.


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## Maine-Marine

If SS fails and my Military retirement does not come through... I will work until I die.

If I get SS and my Military arrives as planned...I will work until I die

after I die the boss will call for me to work an extra week


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## Smitty901

If my Army retirement checks stop, if my investments are worthless and my rail road annuity goes missing. Lot of people that have been running the country better leave quickly.


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## sideKahr

I don't think SS will outright fail. They can always print more money. You'll get your payment. The question is, with the inflation that will result, what will it buy.


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## dmet

If SS fails (and subsequently everything else government based), then I'll be in trouble. My retirement is all government based, from the FERS retirement to the TSP to the SS. Even though the TSP is *MY* money, we all know the government dips into it when they want.


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## Smitty901

dmet said:


> If SS fails (and subsequently everything else government based), then I'll be in trouble. My retirement is all government based, from the FERS retirement to the TSP to the SS. Even though the TSP is *MY* money, we all know the government dips into it when they want.


 You can move your TSP money. Just be smart about how and where.


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## csi-tech

St. Peter don't ya' call me coz' I can't go.......I owe my soul to the company store. 

The wife and I will have my pension for my entire life provided I make it. We have both worked our whole lives and plan to work until we are eligible in 12 years. I expect it will be there with Medicare. If not, meh...We also plan on being self sufficient.


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## Coastie dad

Funny this should come up. I was just mulling over selling my place and getting something a lot smaller that we can still be largely self sufficient on.

I was thinking 900-1000 square feet and 5 acres, done correctly, I might could get by. Because I think there won't be much to social security in a few years.


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## stowlin

Social security shouldn't be counted on, but I'll bet everyone here gets it. What it will be worth is a better question. I mean so you get $1200 a month when gas it $10, the electric $600, and a single med is $500 it's not going to get you far. It will be there it's just a question as to what it's worth. Look at Medicare. It's short hundreds of billions and they aren't cutting it out.


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## dmet

Smitty901 said:


> You can move your TSP money. Just be smart about how and where.


OK, meaning I can roll it over to a 401K or investment type account? I thought that was only once I retire or otherwise leave government service. I had actually hoped for an approved early retirement about the end of 2018, but that was before I learned that I couldn't withdraw from my TSP without a penalty unless I was 55. And since that was how I planned to bridge the gap until my MRA, I've since changed my mind. Bottom line is I'm stuck for 7.5 to 9.5 more years.

Any insight that I'm missing is very welcome.


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## Arklatex

As a millennial, I have been prepping for this. I have worked since I was a youngun.. And I know that SS, Medicaid, Medicare, etc is unsustainable. So I save my money and put it into tangible things.. Instead of 401k and the like..


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## Smitty901

dmet said:


> OK, meaning I can roll it over to a 401K or investment type account? I thought that was only once I retire or otherwise leave government service. I had actually hoped for an approved early retirement about the end of 2018, but that was before I learned that I couldn't withdraw from my TSP without a penalty unless I was 55. And since that was how I planned to bridge the gap until my MRA, I've since changed my mind. Bottom line is I'm stuck for 7.5 to 9.5 more years.
> 
> Any insight that I'm missing is very welcome.


 That far out you are better off leaving for now any way. One big advantage to TSP is this management cost they are pretty low. At age your I hope you are keeping it in grow funds and not sitting on it.
There are good reasons to move away from TSP as you come closer to retirement but not true for everyone. You need to be very careful of those that try to get you to move it.
Fees can eat up most of the higher returns they try to sell you on. For now TSP is as safe if not safer that you are going to find.


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## dmet

Smitty901 said:


> That far out you are better off leaving for now any way. One big advantage to TSP is this management cost they are pretty low. At age your I hope you are keeping it in grow funds and not sitting on it.
> There are good reasons to move away from TSP as you come closer to retirement but not true for everyone. You need to be very careful of those that try to get you to move it.
> Fees can eat up most of the higher returns they try to sell you on. For now TSP is as safe if not safer that you are going to find.


I keep it in one of the L funds and contribute 15%. I did keep it in the G fund too long, but in the early years the G fund was decent. It was in the G fund during the 2008 decline, but I moved it over a few years later when a friend talked some sense into me. :tango_face_smile:


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## NotTooProudToHide

Smitty901 said:


> That far out you are better off leaving for now any way. One big advantage to TSP is this management cost they are pretty low. At age your I hope you are keeping it in grow funds and not sitting on it.
> There are good reasons to move away from TSP as you come closer to retirement but not true for everyone. You need to be very careful of those that try to get you to move it.
> Fees can eat up most of the higher returns they try to sell you on. For now TSP is as safe if not safer that you are going to find.


I'm in a state retirement plan. 5% of our check goes into the pensions system but we have the option to put more money into a 457 and or 401k that includes options a roth ira, a deemed roth ira, or a deemed traditional ira. They call this defered compensation, my employer does not match employee contributions for defered comp but they do have to put in so much for the pension. Is that similar to what you guys do on the federal level?


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## Maine-Marine

IF the economy crashes... all bets (SS, Military, Government, 401K, ect) are off... even if you get money will it cover the cost of a $45 loaf of bread??


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## Smitty901

Maine-Marine said:


> IF the economy crashes... all bets (SS, Military, Government, 401K, ect) are off... even if you get money will it cover the cost of a $45 loaf of bread??


 In that case plan B. S has hit the fan and 100% preper life style kicks in. The investment in ammo and weapon will pay off and pray for the best. Thing about life often it appears S will HTF and it gets dam close. Example Carter in the WH. But some how things get turned around and we hang on a few more years. We need to go on as if things will be ok and work a good plan, but we must also always have a dam good plan B.
So times we have to stay the course to get through it.


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## 1skrewsloose

Good point, if you can make a loaf of bread, can you get $45 for it? Those that can fend for themselves will be way far ahead of those who can't. jmo. even if you get money will it cover the cost of a $45 loaf of bread?? We like to eat some sort of bread with every meal.


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## Arklatex

Maine-Marine said:


> IF the economy crashes... all bets (SS, Military, Government, 401K, ect) are off... even if you get money will it cover the cost of a $45 loaf of bread??


If the economy crashes? LOL. It already crashed. It's just being propped up by all the fake money being printed. That's why I advocate putting money into tangible assets. While it's still "worth something"


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## 1skrewsloose

I may be showing my age, but, used to be that having pot was better in times with no money, than having money in times with no pot.

Maybe it was "fuzzy freak brothers" where I read it. My memory is not so good.


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## RJAMES

Changes are coming in SS at least that is what the incoming President and Congress have stated they will do. Payouts are going to be smaller and you will have to wait/ work longer till you can start drawing any of it. The only question is how soon changes start and what will be the dollar figures. 

I have some investments but my best investment was land, with water and grass, and two heifers and two steers off of a neighbor. They cost me 950.00. Sold the first steer and 1/2 for 1500.00 ate 1/2 and kept the heifers. Next year bought 4 steers around 1000.00 sold 3 1/2 the next year for 3500.00 . Buying them at 4 months of age selling for home freezer use at 18 to 24 months of age. Bought , raised , sold 4 to 5 calves for as least 2 more years. Then no longer needed to buy any in. 15 years and I now have 6 mother cows and currently have 6 calves . Sold 6 this past year, expect to only have 2 to sell this coming year. But I have all the grass fed beef I need. In 2018 I will have 4 to sell.


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## bigwheel

SS is way too big to fail. Besides it would get a lot of old geezers totally mad. FDR needs his buttocks kicked for inventing such a crazy ponzi scheme. Even though it is sudden death politically for any sleazy politicians talking about reforming the program they are going to have to start raising the ages and such things. Hopefully the old geezers will be grand fathered in. Or maybe Obummer and Oprah are right and all the old white folks need to be killed off. Its hard to say about that.


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## Real Old Man

Maine-Marine said:


> If SS fails and my Military retirement does not come through... I will work until I die.
> 
> If I get SS and my Military arrives as planned...I will work until I die
> 
> after I die the boss will call for me to work an extra week


Welcome to the club.

And to all that are still working thanks for making sure my three retirement checks come thru each month


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## A Watchman

bigwheel said:


> SS is way too big to fail. Besides it would get a lot of old geezers totally mad. *FDR needs his buttocks kicked for inventing such a crazy ponzi* *scheme.* Even though it is sudden death politically for any sleazy politicians talking about reforming the program they are going to have to start raising the ages and such things. Hopefully the old geezers will be grand fathered in. Or maybe Obummer and Oprah are right and all the old white folks need to be killed off. Its hard to say about that.


Yes indeed, a Ponzi scheme that even ole' Bernie Madoff would be envious of.


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## inceptor

Maine-Marine said:


> If SS fails and my Military retirement does not come through... I will work until I die.
> 
> If I get SS and my Military arrives as planned...I will work until I die
> 
> after I die the boss will call for me to work an extra week


Where I work if you're gonna die you are required to give 2 weeks notice and train you're replacement.


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## SOCOM42

I have been getting SS for 10 years now along with my police and National Guard retirement.

I still work, be it part time, 5-10 hours a week.

I think that if I just sat around all the time I would be soon gone.

Right now, I have nothing to repair, gun wise, so I will start my Browning Auto Five restoration.

It will pick up again after the first of the year.

Can only stay still for a couple days.

The repair work can bring in $600- $800 a week, usually around $300 average.


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## rice paddy daddy

Wife and I have been on SS for several years. Plus a small pension from an old-style employer (who went to 401k twenty plus years ago for new hires).
When the economy tanked last time, we cashed out what we had left and paid off the mortgage, all outstanding debts, did some major improvements on the homestead, bought two new trucks cash, etc.
Now, we are broke, but what we have is ours. As long as we pay the property taxes, insurance, etc.
I went back to work part time, 25 hours or so a week, so I could have pocket money.

I started paying into social security in 1965. 
How come the pundits and experts are saying social security is running out of money, but never say that about welfare, food stamps, etc?


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## Slippy

rice paddy daddy said:


> ....
> How come the pundits and experts are saying social security is running out of money, but never say that about welfare, food stamps, etc?


This^^^^

?????


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## Denton

Real Old Man said:


> Welcome to the club.
> 
> And to all that are still working thanks for making sure my three retirement checks come thru each month


You want to hear something crazy? This - You are welcome.

Assuming everything doesn't crumble down around our ears, I plan on working until the day I am dead. I pray God gives me the strength. 
I'll work my union job until I can't turn a wrench or climb onto a UH-60. Then, I'm going to retire and go to work in management. I'll stay there until they carry me off the airfield in a meat wagon.
I can only hope that, between the union retirement and social security, my wife is OK.

In the meantime, it is my honor to do my part to help your retirement be comfortable, my brother in arms, Sarge. You earned it.


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## Maine-Marine

rice paddy daddy said:


> How come the pundits and experts are saying social security is running out of money, but never say that about welfare, food stamps, etc?


Because social security is paid by WORKERS into the system.... Welfare is TAKEN from the rich and given to the poor... it is assumed that the rich will always be around


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## Denton

rice paddy daddy said:


> Wife and I have been on SS for several years. Plus a small pension from an old-style employer (who went to 401k twenty plus years ago for new hires).
> When the economy tanked last time, we cashed out what we had left and paid off the mortgage, all outstanding debts, did some major improvements on the homestead, bought two new trucks cash, etc.
> Now, we are broke, but what we have is ours. As long as we pay the property taxes, insurance, etc.
> I went back to work part time, 25 hours or so a week, so I could have pocket money.
> 
> I started paying into social security in 1965.
> How come the pundits and experts are saying social security is running out of money, but never say that about welfare, food stamps, etc?


How can they say we are running out of money when they throw money at other countries, as well as waste it on immigrants and "refugees?"


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## Maine-Marine

I get my military retirement in 5 more years, I will take social security sooner then later, along with my future lottery winnings, working part time, and gambling at the casino.. I will be ok as long as they keep the price of baloney, spam and peanut butter at an acceptable level

packets of mustard, ketchup, hot sauce, and mayo I can pick up at fast food places


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## AnotherSOFSurvivor

Ive heard SS is running out for the longest time as we all have

My hope is Trump will make it an optional pay in, I rather stick all that money in my Vanguard or Columbia HYDMFs versus paying into a plutocratic vehicle I have no choice in the matter of

sent from a paper cup and string via quantum wierdness


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## rice paddy daddy

And you know what? Out of my 24 -26 hours a week @ $8.86/hour, even though I'm drawing SS, the govt STILL deducts from my pay check for SS.
And Medicare.
And on top of THAT, out of my SS check each month, they deduct for Medicare. And of course, my Medicare Supplemental costs in addition to that.

So, I'm paying 3 times for regular Medicare: (1) from all my pay checks before retirement, (2) from my current SS "benefit", and (3) from my current post-retirement job.

You know, if a bunch of guys with Italian names ran a racket like this, they'd all be in Leavenworth Prison.


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## Real Old Man

Denton said:


> You want to hear something crazy? This - You are welcome.
> 
> Assuming everything doesn't crumble down around our ears, I plan on working until the day I am dead. I pray God gives me the strength.
> I'll work my union job until I can't turn a wrench or climb onto a UH-60. Then, I'm going to retire and go to work in management. I'll stay there until they carry me off the airfield in a meat wagon.
> I can only hope that, between the union retirement and social security, my wife is OK.
> 
> In the meantime, it is my honor to do my part to help your retirement be comfortable, my brother in arms, Sarge. You earned it.


Tuesday night I go back for my next 7 day stint of 12 hour shifts at the Prison.

Yeah the wifes honey do list is a killer

Stay safe denton


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## Denton

Real Old Man said:


> Tuesday night I go back for my next 7 day stint of 12 hour shifts at the Prison.
> 
> Yeah the wifes honey do list is a killer
> 
> Stay safe denton


You, too; my brother.


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## SOCOM42

Denton said:


> How can they say we are running out of money when they throw money at other countries, as well as waste it on immigrants and "refugees?"


We retired are has-beens', they don't give a damn about us.

They are more interested in buying votes from anyone who can walk into a booth.

They will always find monies for that.

If they pulled the UN funding, everybody on SS would get a good raise.

If they stopped sending money to that shithole Africa, those on SS could keep their heat and eat at the same time.

If they stopped giving money to those muzslime bastards, those on SS could pay for their meds and rent at the same time.

BUT, those bastard politicians in DC only care about votes, so all on SS suffer.

We get a $3.00 a month raise and they get $3,000.00 a month, where is the Vaseline???


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## AnotherSOFSurvivor

SOCOM42 said:


> We retired are has-beens', they don't give a damn about us.
> 
> They are more interested in buying votes from anyone who can walk into a booth.
> 
> They will always find monies for that.
> 
> If they pulled the UN funding, everybody on SS would get a good raise.
> 
> If they stopped sending money to that shithole Africa, those on SS could keep their heat and eat at the same time.
> 
> If they stopped giving money to those muzslime bastards, those on SS could pay for their meds and rent at the same time.
> 
> BUT, those bastard politicians in DC only care about votes, so all on SS suffer.
> 
> We get a $3.00 a month raise and they get $3,000.00 a month, where is the Vaseline???


No vaseline but I heard they have a studded green weanie with extra salt

sent from a paper cup and string via quantum wierdness


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## Coastie dad

I'm telling you, Im prepping g to live like the world has ended in a few more years..
Wood heat, wood stove, smoke house, and a hand pump on a well.
Because I don't think it's fair to the refugees or welfare monkey's lifestyles to take away the steak, hot pockets, and red bulls from their simple diets.


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## csi-tech

Nothing is easy. We reluctantly just had the father in law placed in a nursing home. All of his assets including the farm and cash may be on the chopping block to pay for his long term care. Easy come, easy go. We can only depend on ourselves in this life and I have done my very best. The wife and I have paid on our whole lives and expect SS. I expect my local government pension to be there as well as the health insurance premiums I was promised. 

Do I have a plan B?.....................Always have a plan B!


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## Medic33

I know someday SS will fail -can't see how it is even functioning now really.
but I guess as long as people are paying into it and they stop moving the freaking age higher and higher one of us might just live long enough to collect.
how much I do not know but not what they promised in the beginning I bet.


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## stevekozak

csi-tech said:


> Nothing is easy. We reluctantly just had the father in law placed in a nursing home. All of his assets including the farm and cash may be on the chopping block to pay for his long term care. Easy come, easy go. We can only depend on ourselves in this life and I have done my very best. The wife and I have paid on our whole lives and expect SS. I expect my local government pension to be there as well as the health insurance premiums I was promised.
> 
> Do I have a plan B?.....................Always have a plan B!


This kind of story makes longterm care insurance a good idea!


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