US citizens : SSI Won't be there for us

I agree that the thought of SSI not being there for us is EXTREMELY scary and I have already started finding little things I can do to put money back. I have started finding scrap metal to sell for some extra money... I mow a few peoples yards to make a little extra income. I figure the more I bring in and can put into savings the better off I will be as I get older. As long as I prepare then most likely I will be okay. It is all about preparation!

SSI is Supplemental Security Income, and is for the disabled. SSA is what you are thinking of, I believe. I am really too old to think about putting extra away, and hubby already draws his SSA, he took it early due to the rumors and also due to not having stable work. The rumors have been around forever about the trust fund going bankrupt. I think it will be there, but not sure in what form. I am wanting to work to build a residual income so that I do not have to be reliant on the government giving me my money back. I am unemployed so I am needing to really work at working online.

My son in law has money in 401K . sometimes I think he needs to buy cds or something if he gets etra money. which isnt often. Myself dont think I have to worry as dont thhink I will live to see no SS altho I paid into it for years. Now SSI is for poeple that hae never worked!

That's why companies have 401k accounts, and I"m taking full advantage of the opportunity!

I am not into politics either but I have also heard that SSI is not going to be around in around thirty years. Maybe it is just an Urban legend and we will skate away free. I think that only citizens should be getting it and that would certainly help but that is just my opinion. I guess we will wait and see.

Currently, I am in no financial shape for saving. We live almost day-to-day with our income. We do manage, but sometimes it is harder than others. The sad thing about the situation with SSI is that when it was put into place, the government was never supposed to touch the money, and it was supposed to be a way to save for retirement. Somewhere along the way, the government apparently thought that it could "borrow" from the publoc's SSI fund, I am sure the intent was to replace it at a later time. Now, the government has "borrowed" so much that we are all sufferring. Now, because of the government's choices, those of us who hae worked hard to make sure that we have that safety net, have to work even harder to save for our own futures because the money we worked hard to put into SSI is being depleted. Yes, there are those who do get the money they worked to put there, but there are many that will continue to contribute with the possibility of no return when they reach retirement. Overall, it is a very sad situation.

All along we should have had the mentality that we need to take care of our own future. It is unfortunate that we have been convinced to trust the government on such an important issue. Most of those in Washington making the decisions are wealthy and have no need of SSI. Time will tell what SSI money is left, but it is time to save. The other blow people have taken is that company pensions, which used to be mandatory and protected by law have now been replaced with 401k plans which are totally dependent on the stock market. What a terrible way to save for your future. Beginning advice for those who want to invest in the stock market is usually that you do not invest money that you cannot afford to lose. We certainly cannot afford to lose our little bit of retirement money.

I remember that being said when I was a little kid. I've heard it now that I'm grown. And that very well could be true. It is definitely headed that way. Unfortuntely for most people we only have enough to pay our bills - and from your posts I think you know what I mean. And there is something I've always wondered about. Staying out of debt will ultimately save us money as we get older. If we put away all of our money and don't pay off our debts, aren't we shooting ourselves in the foot? Exception being of course accounts from employers specifically to set up a retirement plan.

I honestly think that SSI is a pie in the sky. It never hurt to put away funds for a rainy day. On the other hand, would it be against the law for US citizen not to receive their benefits at the appropriate time. I mean deductions are being taken from our pay for it.

Fears have been around for many years and so has SSI. Luckily with agencies like the AARP and others lobbying for us I don't think Uncle Sam will let it fail. The real problem is that we can not live a normal life on SSI alone. I am retired living on SSI and a Military pension as well as a Post Office annuity and it takes all of it to maintain my normal lifestyle. If you are in a job that offers and 401K plan please take full advantage of it.