SavingsTalk.com

deli08

they get a gold star. a person can do what they like-they earned it.

goodMOnk

He gets drunk, laid and musical.

deli08

he earnt it - he spends it
live and let live

deli08

One who claims his due benefits from his own Social Security account is not a burden on the government. We pay into our own Social Security accounts from our wages each and every pay period of our entire working lives, and can only draw on it when the law allows and then only to the extent of our scheduled benefits based on our lifetime contributions while working and the age at which we begin collecting benefits. If and only if one is fortunate enough to have one, American pensions (essentially private pensions sponsored by private employers) are not paid in a lump sum, but are disbursed as monthly stipends, so it's pretty hard to blow it all at once.

lucky_guy

They die happy. But seriously, I don't know.

doom

In the U.S., a person of at least a certain age who was worked at least a certain amount can claim social security even if he has not spent his pension funds. In the U.S. social security is in addition to pensions, not instead of it.

deli08

In the U.S. many company have pension funds for their employees. In most cases you can take it in a lump sum or take it in the form of an annuity from the company. (private)

Note that pension is separate from the U.S Social Security.
So in the first place you can spend it on anything you want.
On your social security from the govt you can also spend it on anything you want. But from the Govt S.S. you only get it on a monthly basis (annuity style)
In addition you can save in your companies 401K savings plan which is by far the best way to save since most companies will give you 50cents on every dollar you save for your first 6% for example.(this money goes in to mutual funds and is tax deferred until you retire and start taking it out.) By the way you can throw that money away on woman and wine also.