Social Security has some grim news for John Ansbach of Dallas and other members of Generation X. If the system continues on its current course, it won't have enough money to pay full benefits by the time they retire.
Ansbach, born in 1971, will be eligible for full retirement benefits at 67, in 2038.
But the government trustees who monitor Social Security's long-term financial soundness recently reported that the system will use up its trust funds by 2037 and have only enough from its tax collections to pay beneficiaries 76 cents on every dollar.
Sunday, May 31, 2009
They're gonna stick it to us from the grave
Our only hope is to take control of our parent's finances when they become elderly and rob them blind. Don't feel guilty. They were born in more prosperous times, so you're only taking back what they were granted by luck of being born pre-1960.
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2 comments:
Have said this before, but I know you weren't listening -- Social Security is not going to be around. I think they're dreaming by even saying 2037.
I think it'll be there. You just won't know it.
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