If you had this option would you take it?

[PINski1015]

If a new government mandate gave you the choice to opt in to Social Security and pay till age 70, or opt out and not have to pay, plus be refunded, which would you choose?

 

[! twitty]

This is an unfair pole. At my younger age I would say F* you old people and opt out. How is it a fair option when we are 2 generations behind on the payments for SS.

 

[rambone]

Opt out. I could put my own money to proper use by saving it myself. I don't owe my money to any self-serving senior citizen.

 

[eldirector]

Life is unfair. As it sits, you may very well be paying in and will NOT see the benefit. How's that for fair.

I am not counting on SS for ANYTHING AT ALL.

 

[rambone]

Realistically, the government will never stop writing the checks. They just won't be worth anything in a few more years.

 

[IndyDave1776]

Opt out. I could put my own money to proper use by saving it myself. I don't owe my money to any self-serving senior citizen.

I have mixed feeling on this one. On one hand, their money was taken with the promise of return at an increase which present recipients are receiving it back at a loss even before considering inflation or lost potential gain. On the other hand, they should have been paying attention when the .gov started changing the terms and raiding the trust fund before I was born.

 

[buckwacker]

Opting out is possible, as it is technically voluntary. I know several people who have done it.

 

[IndyDave1776]

Opting out is possible, as it is technically voluntary. I know several people who have done it.

How did they do it? I know that clergy are offered the opportunity as conscientious objectors, but I was unaware that it could be done otherwise.

 

[atvdave]

This is an unfair pole. At my younger age I would say F* you old people and opt out. How is it a fair option when we are 2 generations behind on the payments for SS.

As a older person I don't think it's unfair... As I would opt out and want my refund...

 

[Vlad the Impaler]

I'll keep my money. Been paying into this crappy program since I was a paperboy in the early 80s and the gubment has been squandering my cash since. I'm pretty sure I'll be means tested out by the time I can access my cash. Some other SOB who hasn't worked as hard in his adult life as I did as a paperboy will be deemed more worthy of receiving the fruits of my labor.
I'd be better off burning the cash and getting some warmth from it.

 

[Vlad the Impaler]

Opting out is possible, as it is technically voluntary. I know several people who have done it.

Link to gov't website with that info please - something smells.....

 

[buckwacker]

How did they do it? I know that clergy are offered the opportunity as conscientious objectors, but I was unaware that it could be done otherwise.

Im not really sure as it has been several years since we talked. I was told there was a buch of paper work to fill out. Essentially forever withdrawing from the system, including disability, medicare, ect.

Link to gov't website with that info please - something smells.....

Yeah, they're probably not going to advertise that.

 

[ThrottleJockey]

You know, I used to think there was no way out too, but one of the guys I did a lot of business with as a landscaper had opted out. His CPA knew of the "loophole" that allowed it and drew up the paperwork for him to sign. I don't think a person in the workforce can do it though. I believe you must be self employed.

I do know one thing for sure though, if I took the same amount of money from my gross each week and managed it myself, by retirement I would likely be a millionaire living only off the interest.

 

[Vlad the Impaler]

Two votes for "in".
Whomever retires or needs disability first wins!

 

[UNCLE HARLEY]

If a new government mandate gave you the choice to opt in to Social Security and pay till age 70, or opt out and not have to pay, plus be refunded, which would you choose?

Sounds like another devisive Obama plan to me.

 

[parsimonious]

I don't even want any refunds. They can keep what I paid, in order to keep
the promises to previous generations. I just want to stop paying.

 

[ocsdor]

I've opted out of paying, but will still receive payments when I hit retirement age. That's the beauty of a one-earner household with the earner being the spouse.

 

[kjf48197]

I would opt out because I can do a lot more with that money than the gov't like making double house payments or saving it for retirement, vacation, browning 50, or whatever I want to spend it on. This is America and it is my money. Besides why should that money go to some slob setting on their but not looking for a job and not motivated enough to try and get one.

 

[eldirector]

Found some opt-out info to share:
Can I opt out of paying Social Security and invest on my own? - USATODAY.com
How do I opt-out of the Social Security system?

- Federal employees hired before 1984 who elected to continue to participate in the federal retirement program instead of receiving part of their retirement under Social Security coverage.
- State or local government workers (police officers, firefighters, and teachers) hired before March 31, 1986 and participating in their employers' alternative retirement system.
- Ministers may choose whether or not they will participate in the Social Security program.
- Self-employed workers with annual net earnings below $400.
- Election workers earning $1,000 or less a year.
- Household workers earning less than $1,500 per year.
- Minor children with earnings from household work but for whom household work is not their principal occupation.
- College students working under Federal Work Study programs, graduate students receiving stipends while working as teaching assistants, research assistants, or on fellowships, and most postdoctoral researchers.
- Individuals who are members of certain religious groups such as the Amish and Mennonites.

And also:
House Republicans propose Social Security opt-out - The Hill's Floor Action
This is the Savings Accounts proposal from the House Repubs last year. It provides of SS opt-out if you were to opt-in to a savings plan. Didn't go anywhere, if I recall correctly.

 

[MACHINEGUN]

If you were born after 1965.. good luck seeing any SS benefits when you retire!