Can Americans Really Depend on Social Security?

In 1935 the government passed Social Security into law setting up a government managed retirement plan for the majority of US workers. To fund the plan, they passed the Federal Insurance Contribution Act (FICA). The law mandates that employers withhold a portion of the worker’s salary (contribution) and requires the employer to match the contribution. It was sold to the […]

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I don’t have time to plan – I’m too busy

I hung up the phone and shook my head. I have a good friend (I’ll call him Joe) who talks with me about his retirement fears. He’s in his peak earning and expense years with children getting ready for college. He’s diligent about making his 401 (k) contributions although he is not contributing the maximum. As always, I suggest he […]

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When Congress names a bill look in the mirror

When Congress names a department and/or passes an “act”, it generally does the opposite of what it’s named. How “secure” is our Social Security, and how much offense has the “Department of Defense” been playing over the last several years? In October, the House of Representatives passed “The Retail Investor Protection Act.” The Investment Company Institute, (the national association of […]

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It’s time Uncle Sam takes a haircut at his expense

For the third time since 2010 social security recipients will not receive a Cost of Living Adjustment. The working class is cutting personal spending and businesses worldwide are doing the same. The Wall Street Journal reports: “More than a year after oil prices began their descent to under $50 a barrel from over $100, the number of energy-company layoffs world-wide […]

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Social Security Trustees Distress Signal is Being Ignored

DOT, DOT, DOT, DASH, DASH, DASH, DOT, DOT, DOT is being screamed by the Social Security Trustees and no one is listening. For those not familiar with Morse Code, that signals “Save our Ship”. In a recent article “The USS Social Security is sinking fast” I highlighted the conclusion from the 2015 Social Security and Medicare Trustees Report “Social Security’s Disability Insurance […]

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The USS Social Security is sinking fast!

The 2015 Social Security and Medicare Trustees Report was released in late July. It starts off with an urgent warning for everyone. “Social Security’s Disability Insurance (DI) Trust Fund now faces an urgent threat of reserve depletion, requiring prompt corrective action by lawmakers if sudden reductions or interruptions in benefit payments are to be avoided” I’ll skip the fuzzy-math and get to […]

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