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SOCIAL SECURITY becomes "FEDERAL BENEFIT CHECK"

By
Title Insurance with Family Abstract, Inc.

I was with my father and noticed his "Social Security Check had a brand new name!Have you noticed, the Social Security check is now referred to as a "Federal Benefit Payment"? 

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.  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. Just because they borrowed the money, doesn't mean that our investments were a charity!

I'm 50, I can ass-u-me that there will be nothing left for my family should I be lucky enough to live to 65.  No wonder there is a mid-life crises, anyone else going through it?  One "Kid" I met said he was, I told him at his age a "Midlife" crises is not having his friend sign his yearbook. 

Since this actually makes a point, you can be sure Active Rain will not allow it to be a feature so I'll leave it up to all of you to reblog and pass this through your networks, GOD WILLING we will all be 65, now is the time to begin caring!

Ok I'm done ranting for this morning.  Make it a great day, despite it all, from your friends and Family at Family Abstract. com.  Please remember our Title Insurance is Organic and Gluten Free!

Glenn

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Posted by

About Family Abstract, Inc.

Established in 2002, Family Abstract, Inc. provides Title Insurance to clients and customers throughout Florida, Maryland, New Jersey and Pennsylvania with more than 40 years of combined experience in management alone. We pride ourselves on retaining the most skilled and knowledgeable employees who share our goals of providing the best service in the industry.

Located in Horsham, Pennsylvania, Family Abstract, Inc. maintains an extensive network of skilled title insurance abstractors in all the states we service in addition to a nationwide network of qualified closing agents who are available to close loans at any location.

Backed by the strength of four title insurance underwriters, we are able to provide expert attention to detail without sacrificing versatility in the closing process, thus providing more options in difficult title situations. Due to our depth of industry knowledge and commitment to excellent service, Family Abstract, Inc. has been able to develop client relationships that have endured for decades.

Having successfully settled and insured thousands of transactions, we have already earned the trust and confidence of hundreds of customers, lenders, brokers, and realtors and now we would like to share our expertise with you!

Comments (10)

John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Good morning Glenn.  Good deal on calling this fact to our attention. With many having direct deposit I bet they are clueless of the change on their Social Security check.  I talked with our accountant she thinks that SS will be there for our generations then be gone.  That's her opinion I hope it's around when we get to retire!

Sep 25, 2013 12:08 AM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Yes, Glenn, I was aware of the change and feel just as you do about it as well as how our elected officials have misused our money. 

Sep 25, 2013 12:11 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

It is very sad that every-time there is a problem SS is what they want to cut ..let them cut their salaries instead ..excellent post Glenn.. I will suggest

Sep 25, 2013 12:53 AM
Helen and Larry Prier- Re-Max Gateway - Residential Real Estate
RE-MAX Gateway- Residential Real Estate Sales - Anacortes, WA
Anacortes & surrounding Skagit & Island Counties

Glenn, Great math to show what we have been robbed over the years. 

Sep 25, 2013 01:03 AM
Glenn Freezman
Family Abstract, Inc. - Horsham, PA

John, I hope he's right.  I'm 50, can you ask him what he thinks about my shot?

Sep 25, 2013 01:16 AM
Glenn Freezman
Family Abstract, Inc. - Horsham, PA

Maria, good for you for knowing it, and realizing that we are getting shafted!!

Sep 25, 2013 01:17 AM
Glenn Freezman
Family Abstract, Inc. - Horsham, PA

Hannah, Good luck getting AR to feature this post, it hints of political non correctness!  But I'd love to see it, people need to be aware, reblog it at least your readers will see it too. That would be "Helpful"

It is nauseating! Be well Hannah

Sep 25, 2013 01:19 AM
Glenn Freezman
Family Abstract, Inc. - Horsham, PA

Helen and Larry, unfortunatly number do not lie!  Thanks

Sep 25, 2013 01:33 AM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I'm 52 so I'm guessing she would have the same answer Glenn.  We need to hope and pray so!  I had to come back by to see if this had gotten a feature.  I was sure it would. Darn it!

Sep 25, 2013 06:57 AM
Glenn Freezman
Family Abstract, Inc. - Horsham, PA

Too P/U/C for Active Rain.  Heaven forbid!

Sep 25, 2013 07:39 AM