Social Security....delusion....yep!
Let’s see now. SS was started for AMERICANS working supporting AMERICANS retired. Both were PAYING INTO SS. Maybe there were 10-20 working for each retired. Here’s the news. There is still 10-20 working for each retiree but they are working on jobs exported to foreign countries. There neither they nor their employers pay into SS. Now that’s quite a screwing of the SS system and generates considerable shortfall. So let’s restore the system by adding a SS tariff on all incoming tax free stuff which would also equalize the burden on American companies which pay the SS taxes.
Not to mention that some of what was paid in ends up disappearing for non-retirement payments. So fund that separately.
Not to mention that the value of what was paid in disappears in the inflation produced to balance the budget. So make sure that SS income is inflation protected.
So fear not younger generations, do these things and it will be there for you. My I finished by GI Bill college, starting pay was $2500 per year. Now lets say 50,000 [20X]. So do the math, when you retire, starting pay will be 1,000,000 and you’ll get your money back also. Don’t let the government screw you with trade agreements and inflation.
Every generation after the “greatest generation” is in danger of being screwed by SS.
Only those who received benefits and died prior to the coming SHTF crash escape the consequences of the crumbling pyramid.
My Great grandmother was widowed in the fifties in her mid-fifties and lived till she was 108, drew survivor benefits for 48 years (starting at age sixty) and never worked outside the home.
About 10 years ago my wife’s then 26 year old daughter kept talking about her “inheritance”. We finally asked her why she thought she should deserve an inheritance. She said “Well, Social Security won’t be enough when I get older so you’re going to have to give me my retirement.” She was shocked when we explained to her that she would have to work and pay into the system in order to get social security. Then she got mad. She got really mad when we explained to her that we had nothing for her to inherit and if we did it would go to my dogs before it went to her.
She’s now pushing 40 and still hasn’t figured it out.
I’m drawing my social security now but, when I was in my 40s and 50s, I didn’t think that SS funds would still be there when my time came. I hadn’t, however, considered the extent of money-printing that the government would undertake. Today’s young people are probably going to actually experience what I once feared. The sad reality has only been postponed.
Millennials who got degrees in marketable fields have no trouble finding a job. And if they were smart and went to a state college or took to years at a community college before transferring they have little debt to pay off.
My recently graduated niece works growing adult stem cells for ALS research, and her husband started as an intern with a radio station during college, and now that he’s graduated he manages all of their digital media.
Life is hard when you’re stupid, and if your parents were too stupid to help guide you into an affordable, useful education, well that’s TFB.
BTW, I’m talking to Millennials, not you SeekAndFind...