Social Security Status, Sounds Like A Bunch Of Bull.
Here's the low down about your social security status and some facts that you may not know about. Sit back as I take you on this smooth ride about the government. Social Security is the economic security for millions of Americans. At least 162,000,000 people pay and will have a social security status. The max benefit for a retired worker in 2010, for full benefits was $2,346 a month. Workers pay 6.2%, employers match that amount for a combined 12.4% of earnings. A self-employed person would have to pay both shares, the employee and employer's share, which adds up to 12.4%.
Social Security Status Problem
People with higher income, pay federal income taxes on their benefit. The age for full benefit was 65. For early retirement at age 62, with a permanent reduction to 80 percent.
Did you know, about one in 10 Americans age 65 and older is poor. If they had to rely only on their income other than Social Security Status, nearly half would be poor. Which leads to the talk about the life expectancy of a human when social security first started two decades ago. Your life expectancy was not meant to compliment your social security status. They actually work against each other. Here is some more detailed info for you my friend.
The Board of Trustees use projections from the office of Chief Actuary to make assumptions in their annual report to Congress. These assumptions are used to generated stuff about population growth, including births and a lot more.
In 2015, spending for benefits would start to exceed tax income. Interest earnings on trust fund securities will help cover benefit costs. In 2025, spending for benefits would exceed revenues plus interest on the securities. The funds would begin redeeming the Treasury securities. The cash to redeem the bonds may come from several sources: increased taxes, reductions in other federal government spending, or borrowing through the public sale of Treasury securities. If the money is borrowed, it will increase the federal budget deficit. In 2037, the trust fund assets would be exhausted, so they say. All the Treasury securities would have been redeemed. Taxes coming in from workers and employers would be sufficient to pay 78% of the benefits promised under current law. By 2084, the end of the 75-year projection period, incoming taxes would pay about 75 percent of scheduled benefits.
The people that are relying on social security may be OK, though it seems they want you living if fear of the project failing.
Under the high-cost scenario, the trust funds would be depleted in 2029 instead of 2037. Under the low-cost scenario, Social Security would be solvent for 75 years and beyond. The difference among estimates shows the great uncertainty about the long-term future, so they say.
Get serious my people. Why would you base your entire retirement around something that sounds as dumb as that. Don't fall for the banana in the tail pipe listening to the Government for the so called American Dream. You need to bring your leadership capability to the table. The true entrepreneur's need to stop hiding, waiting on the next person to lead. I think you already know your social security status will not save you.
Here's the low down about your social security status and some facts that you may not know about. Sit back as I take you on this smooth ride about the government. Social Security is the economic security for millions of Americans. At least 162,000,000 people pay and will have a social security status. The max benefit for a retired worker in 2010, for full benefits was $2,346 a month. Workers pay 6.2%, employers match that amount for a combined 12.4% of earnings. A self-employed person would have to pay both shares, the employee and employer's share, which adds up to 12.4%.
Social Security Status Problem
People with higher income, pay federal income taxes on their benefit. The age for full benefit was 65. For early retirement at age 62, with a permanent reduction to 80 percent.
Did you know, about one in 10 Americans age 65 and older is poor. If they had to rely only on their income other than Social Security Status, nearly half would be poor. Which leads to the talk about the life expectancy of a human when social security first started two decades ago. Your life expectancy was not meant to compliment your social security status. They actually work against each other. Here is some more detailed info for you my friend.
The Board of Trustees use projections from the office of Chief Actuary to make assumptions in their annual report to Congress. These assumptions are used to generated stuff about population growth, including births and a lot more.
In 2015, spending for benefits would start to exceed tax income. Interest earnings on trust fund securities will help cover benefit costs. In 2025, spending for benefits would exceed revenues plus interest on the securities. The funds would begin redeeming the Treasury securities. The cash to redeem the bonds may come from several sources: increased taxes, reductions in other federal government spending, or borrowing through the public sale of Treasury securities. If the money is borrowed, it will increase the federal budget deficit. In 2037, the trust fund assets would be exhausted, so they say. All the Treasury securities would have been redeemed. Taxes coming in from workers and employers would be sufficient to pay 78% of the benefits promised under current law. By 2084, the end of the 75-year projection period, incoming taxes would pay about 75 percent of scheduled benefits.
The people that are relying on social security may be OK, though it seems they want you living if fear of the project failing.
Under the high-cost scenario, the trust funds would be depleted in 2029 instead of 2037. Under the low-cost scenario, Social Security would be solvent for 75 years and beyond. The difference among estimates shows the great uncertainty about the long-term future, so they say.
Get serious my people. Why would you base your entire retirement around something that sounds as dumb as that. Don't fall for the banana in the tail pipe listening to the Government for the so called American Dream. You need to bring your leadership capability to the table. The true entrepreneur's need to stop hiding, waiting on the next person to lead. I think you already know your social security status will not save you.
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