There's no statute of limitations on how long Social Security can wait to collect an overpayment. More than two years ago, Roy Farmer of Grand Rapids, Michigan, got a letter from Social Security asking whether he'd forgotten to pay a debt he didn't know he had. Roy Farmer...
The debate about whether or not Social Security is a Ponzi scheme is probably less important of an issue than a discussion about the ultimate and real solution to the unsustainable “insecurity of Social Security”:privatization. Chile’s successful transition to a privatized pension system in 1980...
The bottom line is that America’s Social Security – and systems in other nations that also are based on the pay-as-you-go approach – are doomed. The nations that figure out how to navigate the shift to a better system will be in a much stronger position than the ones that try to...
And most of those who did, didn’t collect it for very long. Today, the average lifespan is 79. So now, most people do live long enough to receive Social Security – for 10, or 20, or even 30 years. Here’s another important piece of information: When the program started, the ...
Fact #1: Social Security is not “broken.” It is not “going broke.” It will, as Eisner told us more than a decade ago, “be there” as long as we protect it from its so-called saviors. References: Eisner, Robert. “Save Social Security from its Saviors”, Journal of Post Keyne...
when you apply. The Social Security Administration will review your case to decide if you are eligible. If it rules in your favor, you'll receive disability checks for as long as your disability lasts or the rest of your life, depending on the condition. If it rules against you, you may...
The amount of money you receive from Social Security is based on a number of factors, including how much income you earned throughout your working years, the year you were born, and the age at which you file for benefits. If you claim Social Security early, your benefits will be reduced...
To protect your Social Security number, start by controlling who gets it. The fewer places that have it, the better. Don’t give your number out just because someone asks. Before giving it out, ask why they need it and how they will protect it. ...
How Much Longer Will the Surplus in the Social Security Trust Funds Last? Based on 2024 projections, Social Security is poised to exhaust the funds in its combined trusts by 2035, but that date isn't written in stone.It's subject to change with economic developments as well as measures tha...
In its 2024 report, the Social Security Board of Trustees estimated that reserves in the retirement fund (OASI Trust Fund) will become depleted in 2033. This was unchanged from the previous year's projection. Ongoing tax revenue will be enough to pay only 79% of scheduled benefits after that...