Your Social Security Number

[Lewis]

What Does Your Social Security Number Mean?

February 1, 2015 |
http://www.fool.com/retirement/general/2015/02/01/what-does-your-social-security-number-mean.aspx

This Social Security card was likely issued in Louisiana. Source: SSA Office of the Inspector General.

 

[Gary]

I got my Social Security Card when I 14. I still have it.

 

[Lewis]

I was 12

 

[Gary]

I was 12 too.








Sorry, I couldn't help it.
.

 

[AirDancer]

Now kids typically get their Soc numbers at birth.

When my daughter & son-in-law went to their bank to open a savings account for their daughter (my lovely grand-daughter), the bank initially told my kids that the SS# was a fraud. Matters went round and round for a short while. Then the truth was identified: the Soc number my grand-daughter was given was the same number of a late account holder at the same bank.

What a coincidence that my grand-daughter & that late gentleman would not only have the same Soc #, but also bank at the same establishment!

 

[Lewis]

I was 12 too.








Sorry, I couldn't help it.
.

But I really was, my grand pop took me to get it in case that I wanted a little job. In Pennsylvania at that time you could work at 12, but you had to have a Social Security card.

 

[Lewis]

Here's How Social Security Benefits Are Calculated

http://www.fool.com/retirement/gene...-social-security-benefits-are-calculated.aspx

Social Security benefits have become an increasingly important part of many Americans' retirement strategies. Yet few people actually know how their benefits are calculated.

 

[Deborah13]

I was 16, first real job. But in CT a minor had to have another card too, so I had a Green Card.

 

[Michael74]

If you want to max out your monthly checks, start taking them at age 70.

 

[evenifigoalone]

I think I've had mine since birth. Or, my mom got it at some point. I just know it was there before I needed it.

 

[kathydixon]

I’m 73 years old and I receive a monthly check for $2,229. It is in my view the most successful government program ever enacted. Today the Republicon’s are trying to find a way to get their hands on this money for self-serving reasons.
Our federal government has borrowed over a trillion dollars from the SSTF and still the SSA has a positive balance of $2,852 billion.
The Social Security trust funds are financial accounts in the U.S. Treasury. There are two separate Social Security trust funds, the Old-Age and Survivors Insurance (OASI) Trust Fund pays retirement and survivors benefits, and the Disability Insurance (DI) Trust Fund pays disability benefits.

Social Security: The Trust Funds
Updated June 29, 2022
Projections show the OASI fund remaining solvent until 2034,
whereas the DI fund is projected to remain solvent throughout the 75-year projection period

The Trustees project that the Old-Age and Survivors Insurance (OASI) Trust Fund will be able to pay full benefits on a timely basis until 2034

The accumulated holdings of the Social Security trust funds totaled $2,852 billion at the end of calendar year 2021.
https://sgp.fas.org/crs/misc/RL33028.pdf
(:-

 

[miamited]

kathydixon

I must agree. The SS program is one of the best programs that provides for the well-being of all at minimal cost to everyone else. So, when your children say that you're using up all their SS money, tell them that their children will pay for theirs, too.

God bless,
Ted