SOCIAL SECURITY NOW CALLED A "FEDERAL BENEFIT PAYMENT"!
SAY WHAT?!
Yep, it's true, the government refers to our Social Security checks as a “Federal Benefit Payment”. Can you believe the audacity?!
Social Security totals 15% of our income before taxes. If you averaged $30,000 per year over your working life, that's close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in Social Security ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3 plus million dollars saved! This is your personal investment.
Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month. That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration (Just Google it, it’s true). And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)!
Social Security totals 15% of our income before taxes. If you averaged $30,000 per year over your working life, that's close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in Social Security ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3 plus million dollars saved! This is your personal investment. Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month. That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration (Just Google it, it’s true).
And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)!
Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They “forgot” that it was OUR retirement money they were taking.
And recently, we've been told that Social Security won’t support us for very much longer. But is it our fault they misused our investments? Maybe, maybe not. Or maybe we needed to say something years and years ago. They say complacency can be dangerous!
Americans have earned the right to their Social Security and Medicare since their inception. All Americans must demand that their legislators bring some entitlement common sense to the government. Make sure to vote #RomneyRyan2012 on November 6 and support a solvent Social Security and Medicare for future generations and ALL Americans.
And let's remember to call it what it truly is: EARNED RETIREMENT INCOME because YES, WE BUILT IT!
Yep, it's true, the government refers to our Social Security checks as a “Federal Benefit Payment”. Can you believe the audacity?!
Social Security totals 15% of our income before taxes. If you averaged $30,000 per year over your working life, that's close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in Social Security ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3 plus million dollars saved! This is your personal investment.
Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month. That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration (Just Google it, it’s true). And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)!
Social Security totals 15% of our income before taxes. If you averaged $30,000 per year over your working life, that's close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in Social Security ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3 plus million dollars saved! This is your personal investment. Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month. That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration (Just Google it, it’s true).
And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)!
Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They “forgot” that it was OUR retirement money they were taking.
And recently, we've been told that Social Security won’t support us for very much longer. But is it our fault they misused our investments? Maybe, maybe not. Or maybe we needed to say something years and years ago. They say complacency can be dangerous!
Americans have earned the right to their Social Security and Medicare since their inception. All Americans must demand that their legislators bring some entitlement common sense to the government. Make sure to vote #RomneyRyan2012 on November 6 and support a solvent Social Security and Medicare for future generations and ALL Americans.
And let's remember to call it what it truly is: EARNED RETIREMENT INCOME because YES, WE BUILT IT!
