5 little-know facts about Social Security...I was just reading this and found it very interesting....did you know this? “The income requirement is so low that "it could be met with seasonal work," says Richard W. Stumpf, principal at Financial Benefits in Wichita, Kan.” Read more: 5 little-known facts about Social Security
My Observations:
In 2041, Social Security will start to run out of money: “the Social Security trust fund will be able to cover....obligations for the next 30 years or so, after which there will be a shortfall of about 22 percent.”
God willing, I’ll still be alive in 2041 but I will be an old lady, for sure....lol! Without giving away my current age, I will be over 67 years, which is the age that I can retire to get my full benefits. So, what’s going to happen to me in 2041? Will SS cut my benefits by 22%? Since it’s such an unknown, I am going to act as if SS will not exists and I will NOT rely on SS for my income, but I’ve known this for many years and so does everyone else, right? So in 2041, don’t be crying that you didn’t know.
If SS still exists....I will use it for “Gas Money”....lol!
Should we try to fix social security or just file it under: Investment Loses or business expenses and move on, going forward?
For the next fifteen years, I plan on working harder and investing wiser than ever before. Please don’t start doing the math to figure out how old I am....nothing makes a woman more upset than to try to figure out her age or make her feel badly for it. So without giving away my current age, I’m concerned about my future because I’m no spring chicken....lol!
My question to you, How concerned are you and what are you doing for your future?
What I’m doing: trying to buy rental property!
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