Don't forget the fact that there are increases most years. Might not be much but if you get the maximum monthly check of $4555, and it goes up 3% next year, you'll be getting $4692/month next year. And if it goes up another 3% in 2025, then you'll be getting $4832/month in 2025. And so on.

Meanwhile, you'll be getting this (plus whatever other increases) every year for 7 years - and on the 8th year, you will now be getting money that you never paid in. How is that possible? Because the generations behind you are footing the bill. Your payroll deductions are paying for the generations in front of you, they're not paying for you. If you live for 25 years past your first SS check, you'll have collected more than 250% of what you put in.

The problem with the system is that there are SO many baby boomers receiving checks now, and the generation who's paying for it - are fewer in number. So there's not enough coming in to support the people receiving. So they rely on the next generation behind them, and so on and so forth. Once the Boomers die out, they'll be back on solid ground. They just have to make it through this generation.

Why is it entitlement money? Didn’t we and the company we worked for pay into it our entire working career?

If you are healthy and had a good job then you paid into it maybe 1/6 of what you will take out. If you were unhealthy or maybe had a lower paying job then you might get more than out. And yes, if you are unfortunate and pass early then you won't get your money back but your widow or kids might.

Money has time value; interest and dividends can be earned; purchased assets such as stocks and real estate can appreciate. Plus due to inflation the dollar of 1960 or any other past year was worth more, even far more, in purchasing power than today's dollar. Social Security is lose-lose except for the disability and survivor insurance components. Most of us would be millionaires, even multimillionaires, if what was confiscated from us for FICA over our working years had been invested in a S&P 500 index fund.

While you poor impoverished Villages are busy whining about your getting back every nickel you paid in to Soc Sec over the years, please be sure to calculate the cost of the disability insurance you have gotten for free for your entire working life. And the cost of the insurance for several disorders and illnesses provided to your children for their lives, and the value of the ability for your spouse to collect on your earnings not only during your life but after your death.

While whining about the amount you paid for Medicare. When you paid in there were no immunotherapy drugs, there were no MRI scans or heart transplants or surviving cancer other than briefly. There was no drug benefit, there was no stem cell treatment, there was almost no joint replacement.

And you paid at a rate based on the cost of medicine at the time, not what it costs now

So quit whining and be very grateful that Medicare was passed by LBJ, was improved by subsequent administrations.

I never knew if you take your SS at retirement age and then go back to work you can still collect your SS but you also have to keep paying into SS you will never see that money in any way.

Yep! Even Charlie Munger who is still toiling away at the ripe old age of 99 (he will reach 100 1/1/24) must pay into Social Security and Medicare from his salary. At his investment income level he also pays the 3.8% NIIT on top of his other income taxes so he funds health insurance for others under the ACA. Thank you Charlie from those getting their health insurance through ACA!

Inflation
 

I have a question regarding inflation. I recently read that when inflation is being calculated that neither ENERGY or FOOD are included. I am completely taken aback. Would someone please explain how these two things ( that every human being needs to survive) could possibly be left out of the equation?? Please no political remarks and ranks, just looking for knowledge.
Thanks......