Social Security?
How much money money will you receive from your social security benefits? Last summer, we wrote about how the Social Security system was breaking down rapidly. You may be wondering, if we think the system is breaking down, why would we write about it in our blog now? There’s little question that the Social Security Program is in trouble, but there are solutions. Unfortunately, for many Americans, particularly those who have worked hard and lived responsibly, the most likely solution will preclude them from receiving benefits they deserve.
Much of the focus for suggested Social Security fixes in Washington have centered around “means testing”. Essentially, at some point, the government will draw an arbitrary line based on your personal assets and savings, giving those below that threshold access to Social Security funds. It should also come as no surprise that they are more than a little interested in “helping” with your 401k as well. For the time being however, Americans are still forced to contribute to Social Security and still have some claim on that forced contribution.
Resolution
res·o·lu·tion: (rezəˈlo͞oSH(ə)n) / noun a firm decision to do or not to do something.