Tag Archives: Social Security

The traditional aspirations of leisurely vacations, quality education, and a secure retirement are becoming increasingly unattainable for many middle-class families. Rising costs and financial pressures have made it more difficult to save for these goals, with inflation, student debt, and inadequate retirement savings posing significant challenges. The interconnectedness of these financial struggles, compounded by political gridlock and societal behaviors, underscores the complexity of the problem. Achieving these dreams now requires both individual planning and systemic reforms to create a more sustainable economic environment for future generations.

Welcome to the new model of retirement. No retirement. In 1983 sixty two percent (62%) of American workers had some kind of defined-benefit plan. Today less than 20% have access to a plan. The majority of retired Americans largely rely on Social Security as their de facto retirement plan [and the 35 and younger cohort are not able to save, or save enough, to eventually retire. True retirement is now a thing of the past except for a privileged few. Let me support this claim.] Words: 1091

Just 10 years ago, most Americans felt confident they'd hang up their hat by the time they turned 60. Now the average working stiff expects to retire at age 65 due to the housing crisis and credit crunch, among other nest egg busters....Experts are predicting that the trend will continue, thanks to the Great Recession so, for now, Americans are just focused on keeping their day jobs. When will you retire? Check out the graphic below to find out.

Two weeks ago a new bill was introduced on the floor of Congress that, just like all the other really dangerous legislation, i.e. USA PATRIOT Act, this bill has a catchy acronym. It’s called the SAVE UP Accounts Act, which stands for “Secure, Accessible, Valuable, Efficient Universal Pension Accounts Act”. I just tasted vomit in my mouth.

Most people globally don’t really understand some of the central tenants to global monetary policy, nor do they understand some of the key concepts about retirement.

A study released by GoBankingRates reveals that older people planning their retirement have cause for concern. 42% of Americans are facing their golden years with less than $10,000 in savings.

Although I have a few years before I am eligible for Social Security, I’m close enough that I am now thinking about three key issues: 1.At what age to start claiming it; 2.Whether it will still be there when I request it; and, regardless of Social Security, 3.how much does one need to live on in retirement?

Having unrealistic expectations as to how you will get by in retirement is not the way to go. This article identified 4 false expectations and suggests 3 better ways to ensure a much more comfortable retirement instead.

The world has created another debt bubble and we've chosen to kick the can down the road just like Roosevelt did in the ‘30s, and Japan has been doing for the last 20 years. Also, just like in the ‘30s, we are going to get the same result which is persistently high unemployment and generally declining global economic conditions unless drastic steps are taken - and the cure to our problem is staring us right in the face. [ Let me explain.] Words: 760

Think you know who gets social security? Think again! 36% of Social Security recipients are not retired workers, but children, the disabled, or spouses and survivors of workers. Almost one of every six Americans receives a Social Security benefit today. To see who benefits, how much they get and how much it matters to them, see today’s infographic. You'll be surprised!