Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I thought you could opt -out any time you wanted to. One way of avoiding Social Security is to get a government job. The pay sucks (they do not offer multimillion dollar salaries) but the pensions and benefits are OK.
I staed at a bed and breakfast a couple months ago in Amish country! The couple told me that they are exempt from SS Tax on religious grounds! None of the Amish pay it! I've already paid over 90K into the SS system in my lifetime, but am willing to receive no SS if I can bail out now. That 90K will be a gift to Uncle Sam from me. I want nothing in return, just dont want to pay into a system anymore that I am unsure of its future. Are religious grounds the only way to forfeit ones SS rights?
You can opt out,I know of someone who did so who is not Amish.
Just a note, federal employees hired since around 1986 or so are in the FICA system. They do have a thrift savings plan for their pensions. I don't know the details of it.
There are a still a few state and local governments where the employees are FICA exempt.
At 65 you get apx $24,000 a year in SS with the average "drop dead" age of 85 you'll receive apx 1/2 a million dollars.....Grow a beard and opt out if you wish....It is still better that having a retirement plan like buying a mega millions lotto ticket....
Despite what you may hear, there is NO WAY to opt out of Social Security. They have to have virtually all of us losing 15.3% of every dollar we make, just to keep the current crop of retirees happy. They couldn't care less that Social Security is a HUGE loser to most of us, and a TOTAL loss, in all likelihood, for those in my age group.
I have most likely paid in longer than you have. Why shouldn't i get to use the SS that is there?
Perfectly legal and i will need it to retire. Go ***** at the subsidies that farmers get.
I do not pay in.......and I will not take anything out.
I did pay in my younger years.......that money is just gone.....but, that is OK.
You will be entitled to draw out based on what you put in when you retire, if you do not wish to draw it then simply do not apply for it, your choice. One can easily opt out, all they have to do is to be in a position to have not paid into the system, people in private business, contractors and farmers and ranchers do it all the time. Personally I expect to get out what I paid in to the system plus interest other than that I do not want or need it.
Despite what you may hear, there is NO WAY to opt out of Social Security. They have to have virtually all of us losing 15.3% of every dollar we make, just to keep the current crop of retirees happy. They couldn't care less that Social Security is a HUGE loser to most of us, and a TOTAL loss, in all likelihood, for those in my age group.
No way to opt out on WAGE income. If you were to find a way to earn your money through capital gains you do not have to pay any payroll taxes.
No; but you can get a lot of other jobs to not be part of system and be legal .Besides if you falsely qualify as Amish you will give yourself away; if to take many of the government services most Americans take. for granted. Besides there are ways used where you pay no SS; get unearned income at last of year completely tax freep lus housing and food allowances. Heck you even get a free cellphone and service. All legally too.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
