Anyone born in 1960 or latter still believe you will be getting Social Security? Well if you are not receiving it now don't expect it at retirement. I know you think you are entitled to the money because you are paying your taxes. Unfortunately you and me are like Bernie Madoff's investors, part of the largest ponzi scheme ever invented. I wonder when the government realized that making only 3% return on the invested amount would not keep up with inflation? Did they also anticipate the number of people retiring versus the number of people entering the workforce would decline? Really who thought this was a good thing? I bet if the government had let the insurance industry invest our money there would be a lot left. Oh wait, I forgot, they did not keep it invested, they spent it. So not only is Social Security a ponzi scheme, the money has been embezzled by the Federal Government. Wow what a shocker.
Now that you have taken your blood pressure medicine or baby aspirin, depending on the severity of the truth hitting you in the heart, I think it will be alright. Here is the plan that will get you into a place where you will feel confident and secure in your retirement. You must first be debt free. If you are not, take Dave Ramsey's, Financial Peace University. For those that are debt free, first get a large emergency fund, about 6 to 9 months of expenses in a bank. Then start investing like crazy. If you can invest $600.00 a month in a Mutual Funds earning 12% return you will in 25 years have over a million dollars in the bank. Yearly interest will be $120,000 or $10,000 a month. Why with that you can afford private health insurance, go on vacations, or what ever you want for the rest of your life. Even working all your life and putting money into Social Security, you will only get at most $30,000 dollars a year. I don't know about you, I would rather have $10,000 a month verses $2,500 a month. Is it fair to put money into something you will never see a dime from? No it is not, however this is whats going to happen. Dependence on the government got us here, independence will set us free.
Harry
