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Will social security be available for you?

Filed under: Uncategorized — emitaliablog
Posted on September 25, 2010 @ 1:10 pm
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I’m officially part of Generation X and with my expected retirement time frame it seems unlikely that Social security will be around for me the way it can be for grandparents, or even my parents. If the program still exists (a big IF) then it will almost certainly be in a reduced form.

Smart money managers in my generation don’t even count Social Security in their retirement equations. Why would you? It’s a promise from a government that loves to break its promises. Yes, its our dollars and we deserve to get it back, but when is life ever fair?

When I do my retirement spreadsheet calculations the box for social security is constantly just considered fun funds. I will invest now as though that box are going to be forever blank. If I happen to obtain a thing from Uncle Sam then it’s a bonus, funds that can be used for travel, gifts for my future grandkids, or extra nights out on the town. It’s not some thing that I will pay the mortgage with. It is in no way smart to count on a thing before you actually have it. Nothing is guaranteed except death and taxes. Social security is basically a tax the government owes us, so I guess even taxes aren’t fully guaranteed for everyone.

Investment brokers love to give you sample calculations for what your retirement fund could look like with so much invested and so much return. I remember when mine told me to expect 10% return and I forced him to decrease it to 7% for his calculations. Even that may be too high. They don’t like to tell you about market crashes like what 2008-09 saw. The world is a scary place and you must start early to guard your personal future. It’s not the government’s responsibility to be sure you have a cushy retirement.

Most likely the only way to save social security would be to raise taxes. No one really wants that, but without it the program would collapse and there’ll be a riot in this country. Millions of folks are forced to count on that cash since they were in no way taught any differently and trusted that it would be there. Just like thousands of persons counted on huge perks and pensions from the auto manufacturers and now all that funds is gone. Nothing is forever. If you’re in your 20s and 30s your best bet would be to forget about the government checks and do what you can to safeguard yourself on your personal terms. Everything else should be a bonus.

With regards to the Author

The author is multi-interested in a variety of things including maclaren double stroller since she has kids and also reviews of Kalencom diaper bags and electric fireplaces.

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