Tony, that money your friend paid in is not held in an account for his or his wife's benefit. None of the money any of us paid in is sitting in an account. It is spent. Think of SS as a government program, not an account. To qualify for the program, you have to pay into it for 40 quarters (10 years). Once you qualify, you get what the program provides. You may take out less than you paid in, you make take out a whole lot more. Here is a web site that has a good explanation:

http://www.heritage.org/research/rep...-works-in-2014

But the money is spent!

 

Bill, you gave a very good explanation.

Yes, the bottom line is that the money has already been spent!

 

Mod edit out ^^^ quoted political post.

If we are not careful, this could probably get moved to the Politics forum.

 

Important topic for younger vints to understand, so it's impt to keep out the politics! Thanks Jim....

 

Yep, they need to keep working so we retired folks can sit in the wagon they are pulling.

 

Dave, I'm getting tired of hauling your A$$ around in that wagon.

 

Dave, I'm getting tired of hauling your A$$ around in that wagon.
[/quote]

But at least it's a small A$$.

 

Dave, I'm getting tired of hauling your A$$ around in that wagon.
[/quote]

But at least it's a small A$$.
[/quote]
Says you.

 

Thanks, Bill, that clears it up. Thanks, everyone, for the information.

 

Dave, I'm getting tired of hauling your A$$ around in that wagon.
[/quote]

But at least it's a small A$$.
[/quote]
Says you.
[/quote]

Says +1