Monday, November 18, 2013

Social Security a "Benefit" My Ass

Forwarded to me by friends.  Merle
Subject: Social Security

Have  you noticed, the Social Security check is now referred to as  a
"Federal Benefit Payment"?

I am forwarding it  because it touches a nerve in me, and I hope it will in

Please keep passing it on until everyone in our  country has read it.

The government is now referring to our  Social Security checks as
a Federal Benefit  Payment.

This isn't a benefit. It is earned income! Not  only did we all contribute
to Social
Security but our employers did  too.

It totaled 15% of our income before taxes  .

If you averaged $30K per year over your working life,  that's close to
$180,000 Invested in Social Security .

If  you calculate the future value of your monthly investment in social
security( $375/month, including both your and your employers  contributions)
at a meager 1% Interest rate compounded monthly, after 40  years of working
you'd have more than $1.3+ million dollars  saved!

This is your personal investment .

Upon  retirement, if you took out only 3% per year, you'd receive $39,318
per  year, or $3,277 per month .

That's almost three times more  than today's average Social Security
benefit of $1,230 per  month,
according  to the Social Security Administration

(Google it - its a  fact).

And your retirement fund would last more than 33  years (until you're 98 if
you retire at age  65)!

I  can only imagine how much better most average-income people could live
in retirement if our
government  had just invested our money in low-risk interest-earning
accounts  .

Instead, the folks in Washington pulled off a bigger  Ponzi scheme than
Bernie Madoff ever did.

They took our  money and used it elsewhere.

They forgot (Knew) that it was  OUR money they were taking.

They didn't have a referendum  to ask us if we wanted to lend the money to
them .

And they  didn't pay interest on the debt they assumed .

And  recently,they've told us that the money won't support us for very much
 longer .

But is it our fault they misused our  investments?

And now, to add insult to injury, they're  calling it a benefit, as if we
never worked to earn every penny of it.

Demand  that our legislators bring some sense into our government  and
find  a way to keep Social Security going,
for  the good  of all..  and then call it just what it is.

“Personal  Earned Retirement Income.â€

If  you agree forward.

1 comment:

Merle Widmer said...

Corrected. There is enough blame to go around in DC. Not all OBama's fault is correct.