Wednesday, March 10, 2010

Your Retirement Income May Be Based on Funny Money

The above image is related to My Retirement Plan

A recent study indicates that a majority of Americans rely on Social Security for most of their retirement income.

This may not be the best way to retire happy.

The best retirement gift that you can give yourself is not to rely on Social Security.

Some people are worried that the U.S. Social Security will start paying out more than it takes in, at the same time not paying attention to this important point:

The surplus in the Social Security account has always been loaned to the government (to fund budget deficits).

On the U.S. Government books it says the total accumulated surpluses from previous years is $2.5 trillion.

That just kills me. Problem is, they are talking about accumlated surpluses that have been lent to an entity that's bankrupt.

A professor who has studied the Social Security problem says:

"The 2037 date is when the trust fund would become empty if the $2.5 trillion were really in the trust fund. But, since it has all been spent, the Social Security crisis will begin in about six years."
Read the first comment after this article and the last comment. Also the two from the Professor.
Here is more of the funny stuff and trickery going on with money.
If nothing else, two great quotes from the two articles:
    "When the people find they can vote themselves money, that will herald the end of the republic."
    - Benjamin Franklin.

    "If the American people ever allow private banks to control the issue of currency... the banks and corporations that will grow up around them will deprive the people of their prosperity until their children wake up homeless on the continent their Fathers conquered."
    - Thomas Jefferson
Here are some retirement resources to help you with your retirement planning:
And here are two retirement quotes and Retirement Recommendations to help you enjoy retirement:
    People have often asked me, "What do you do now that you are retired?" My answer is "I am fortunate to have a chemical engineering background, and one of the things I enjoy most is turning beer, wine, Scotch, and margaritas into urine."
    — Author Unknown

    If you don't learn to laugh at trouble, you won't have anything to laugh at when you are old.
    — Will Rogers

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