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Social Security?

Mindy
edited July 2011 in Off-Topic
I heard they might not pay social security on time. Husband's and mine supposed to be deposited in the bank August 10. Then starting on the 15th a bunch of things come out automatically including the house payment and our house and car insurance which we pay monthly. Also 2 automatic investments. Should I call everybody Monday to stop these automatic payments? I'm mad. What have they done with all my money? I started paying socaal security when I was 17 and paid every year for over 40 years. Will government bonds be any good? Will FDIC insurance still be good? Husband says they make sausage makers look good by comparison. I'm just scared.

Comments

  • [Deleted User]
    The user and all related content has been deleted.
  • Mindy
    edited July 2011
    Thank you Maurice for a very thoughtful answer. Adding some cash sounds reasonable. Unfortunately short term savings are largely depleted due to several unexpected medical expenses this year. Husband's root canal and dental work exceeded the max yearly cap on dental insurance by around $1,500 and there have been other. Yes, we can withdraw IRA money but there are tax considerations and we were hoping not to touch that for several more years. I just looked at the fund I have been investing in since last December, MIDSX, and it has lost 15% this year, so I don't think I should sell it now. Thanks again.
  • [Deleted User]
    The user and all related content has been deleted.
  • [Deleted User][Deleted User]
    Mindy, there is no reason for SS checks to stop. The program has surplus and is funded weekly by every working person in the country. That said, I don't think there will be a default and the debt ceiling will be raised. Not doing so would remove the words full faith and credit from the phrase "backed by the full faith and credit of the US."
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