Will Social Security Be Taken Away from Us?
The solution, according to the social security trustees, will require reductions in benefits, increases in taxes or some combination of the two. This is just an inconceivable notion to ever consider and fathom. Social security was created by a former president for the security of all United States citizens and now they are saying that the money is just not there and is fading away? Has the government used this fund for other undisclosed purposes and agendas?
Nevertheless, if this situation doesn't not get fixed it can cause a lot of dismay within the American population everywhere. Are we actually paying for social security each week from our paycheck to really find out that we are to receive nothing at all in the future? That is totally unacceptable to me and for everyones else in America. If it is true that this will indeed happen. Remove us from any obligation of currently paying for this now so that we can save on our own accord. Our 401ks will not provide us the most sufficient source of income to maintain a lifestyle that we have lived or will live for decades. Are we to just work ourselves to death and then what?
So for now maybe we should just depend on what we put into our 401ks and other investment opportunities like an IRA fund. Others may be able to guarantee an income stream by using some of their retirement funds to buy an immediate annuity. So, I recommend for everyone to save for retirement now and act like you won't even receive a social security check.
Of course the longer you live the more money you will need so saving money now will be quite difficult when unforeseen and unexpected circumstances arise. I recommend for everyone to save for their retirement early and act like you won't even receive a social security check if you are 35 years old and below. Always expect the unexpected and you will always be better prepared than if you were not.
Sources:
http://www.forbes.com/2009/05/14/taxes-social-security-opinions-columnists-medicare.html
http://www.finance.cch.com/columns/taxes/09-227fedbudget.asp
http://www.cnsnews.com/PUBLIC/content/article.aspx?RsrcID=48020
Published by Sebastian Thomas
I enjoy writing about interesting topics that suit my mind and fascinations of life and the intrigue of it. View profile
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