Wednesday, June 1, 2016

More than you want to think about.......... security:

9 "myths" inspected and rejected.  Myth #1:  We don't need to worry about social security for many years.   Reality:

Although 2034 seems to be far away, many of today’s newest retirees would likely still be on the program – turning 80 – and today’s 49-year-olds would be reaching the normal retirement age. At that point, all beneficiaries would face an immediate across-the-board benefit cut of about one-fifth.

If the sums have been done correctly, your (then aged 82) faithful blogger will be losing out on (the 2016 equivalent) $292 per month if, and when, that reduction hits.  By 2034 (Lord willing), your faithful blogger will also have received more than twice in benefits than paid into the system.  Color me not complaining.

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