do you have a plan ready if social security runs out?

Question

they're already taking it out of your check, it's most likely it won't be there for you when you retire

Answer 1

50 years is when the balance sheet on social security will go negative. However, the cash flow will be negative in just a few years.

The first of the baby boomers are now 60 years old. They will start to retire in the next few years. It won't be long after that when social security has a negative cash flow.

Since the trust fund is a fictiional, in the real sense and only exist as an IOU. Sure they'll tell you its in government bonds but those can't be cashed unless you pull money out of the teasury. I that will have to come out of current taxes, so those bonds are nothing more than a different name for IOU.

The choice will be to either cut benefits or raise taxes. If you're younger than 50 you're screwed. You've been paying in extra social security taxes, and you're benefits will be squat.

While you're paying 20% of your income into social security, me and the rest of the fossils are going to be on the beach spending your hard earned money.

Thanks

Answer 2

The question is not if it runs out but when. Its only a matter of time before social security goes bankrupt. The estimates are that it will go bankrupt in about 50 years. This is good news if you are old, not so much good news for young people. This is why it is wize for young people to have their own retirement plan, i know i do. ETF are a good idea...

Answer 3

Yeah it's called win the lottery retirement plan...lol. Right now just savings until the economy gets better and I can decide on investment options. That and my Retirement Fund through my work.

Answer 4

Rob the rich celebrities? Do they really need 180 million dollars?

Answer 5

cross that bridge when and if you get to it

Answer 6

No plan.

Answer 7

NOT REALLY!!!!!!!!!!!!!