Social Security Retirement -The age you expect to get benefits and will you get all the money paid into SS?

My example: I retired at age 62+1month and paid into Social Security to that time $71,000+dollars. I will be 69 next month and have received 62,000+dollars Next year I my payments will exceed my contributions to Social Security, $71,000. My employers contributions to my account are about the same as mine. I do not count this because I fully realize this is the money given to none working people and illegals getting benefits.

Public Comments

1. If I live long enough. I expect maybe 10-15 years(If I am lucky) on SS. Well maybe 75 is pushing this old body.
2. I am 51 now & I am just hoping that SS still exists when I am ready to retire, lucky for me I do have profit sharing & 401 through my company (one reason higher taxes on corporations won't work, a lot of us would lose our benifits not to mention our jobs). If the SS pool had been left alone by all administrations the system would be solid but as it is I really don't expect draw anything so have planned for that.
3. but you also need to factor in the intrerest rate during the time of contributions remember that when SS was conceived, it was initially presented as a mandatory retirement program that was deemed unsonstitutional, then it was turned into a tax, with the intent of the tax to be to fund retirements but there is no legal reason that they must do any particular thing with the tax revenues
4. I'm not sure anyone can really answer this questions.. SS payments are based on so many factors, and also when you begin to receive your payments. There are unlimited scenarios on earnings, years worked, when the benefit starts, etc..... Think about it.. you could have stopped working at 62, and not started to collect SS until 65 -- so your SS payment increased substantially -- but you didn't work so it increased due to age alone, not more earnings. (This example assumes you had a pension to live on for those few years). With any retirement system, as well as SS, sometimes the person wins (they outlive the monies set aside on their behalf and draw more than they were originally entitled to) and sometimes the employer/Social Security wins (as the person dies early and the funds remain to fund others). Actuarially, they calculate benefits so they will last a lifetime (which is mandated) and at the time someone starts their benefit, the actuary projects the benefit for a lifetime. VERY interesting that you actually added up what you've contributed over a lifetime -- I'd love to do that -- some day!