Hello y'all! Hope this day finds you and your loved ones well. What shall I share with you today? How do you feel about this? Stop working, receive money. Sounds pretty cool huh? There is just one catch. You must be of retirement age. Yes I am talking about social security. It is celebrating it's 75th Anniversary.
For years and years, the 401k people who came to visit myself and my co-workers have been saying that we need to invest for our retirement because Social Security will run out. I recently read an article written by Katrina vanden Heuvel for thenation.com. This article states that there will easily be enough money for several decades to come. It is estimated that there will be a $4.3 trillion surplus by the year 2023. President Obama, as we speak, is currently working on something all Democrats have supported throughout history, tax the rich. This would keep the numbers on a much more positive note.
The original S.S. plan had several major flaws. It did not allow African Americans or immigrant workers a piece of the pie. Such a proposal these days would be crushed immediately. The Center on Budget and Policy Priorities reports, "Without S.S. benefits, over 45 percent of elderly Americans would have incomes below the poverty line."
My personal views do show concern. I am 46 years of age. If the rich are taxed, it will surely secure social security for several more decades. I do believe in 401k and IRA programs. If S.S. is still around throughout my elder years, these additional retirement accounts will leave that much more funding at my fingertips. It is our responsibility to take care of ourselves, our elders, and our children. What are your thoughts on this topic? Have an awesome day!!!
This topic is a very scary issue, this makes me worry about what is going to happen to me when I am older innage. This makes me feel that I am working for no reason. I could be using this money for something else. I am only 20 years old so I know by the time my daughter who is only seven months old will perhaps not see social security at all. I don't see why we have to pay for what the government or whoever is messing with this money.
ReplyDelete