Wednesday, August 11, 2010

Where the hell is our money going (rant) Pt.2 Social Security

Continuing on with my rant i would like to discuss social security.

Social security- Now we are paying into social security, this money comes to us when we retire or if we become disabled. They go by what you have paid in up to the time you stop working. For retirement im not 100% sure but i think the age is 65. For most of us by the time we retire there may not even be social security. Think about it you have paid into something most of your life and when its time for you to get it, its not there. At this point your probably like well i have my 401k and my pension. 401k will only take you so far, you have to live on this for the rest of your life, in the past 2 years alot of people have lost more than half of their 401k due to the economy. Stocks went down and so did your 401k. So now your like ok i have my pension, i don't know if its for every company but when you come to the age where you are eligible for social security they cut a percentage from your pension. I cannot quote a percentage because every company is different. My father just started getting his ss in january, the company he worked for cut half of his pension, so he is making less money than he did before his ss started. Now ain't that about a itch.

In the next few years the baby boomers will become eligible for social security and there may not be enough money to pay out to everyone. Do you really think there will be enough money to pay our ss benefits in 20 or 30 years? I hope so but i won't be surprised if there isn't. Where is all of our money going? To wall street, to bankers, to take care of able bodied people who never worked a day in their life, to stimulus packages you will never see a dime of, to programs you will never be able to use or qualify for. Damn

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