Are You Expecting Social Security?
Every day I get emails from subscribers asking about retirement planning. A lot of people are counting on, and expecting Social Security. They expect Social Security to replace a big portion of their income when they sail off into their golden years.
It’s a nice dream… but it’s only a dream.
For many of us, what we get from Social Security will be cut… and I even see a future where some people don’t get anything.
Stop Expecting Social Security
This isn’t a problem for future generations, these problems are going to hit in a big way in the next 10 years. The problem is Social Security is running out of money. Yes, it’s bad.
In a second I’m going to share with you what to do to make sure you get the retirement you deserve. But first, did you know the Social Security Administration (“SSA”) was established in 1935. It was set up to be a social insurance program providing retirement, disability, and survivor benefits.
All great and noble things…
The process is simple. The US government takes a little bit of money from everyone’s paycheck and holds on to it. Then when you retire or become disabled, they can give you that money back.
Simple enough right!?!
Just to put this in perspective, the SSA is going to distribute $1.2 Trillion dollars in 2022.
The size of this organization is staggering.
Consider this… the US has 330 million people… of that, 66 million get money from the SSA! That’s 20% of the population.
Would you expect anything less?
More than 94% of all workers are paying into Social Security… so there are lots of people expecting to get their money back.
This is where the problems start.
Read the rest of the article here. It originally appeared at NetPicks.com.
Category: Other Useful Information
