Several recent studies have shown some interesting facts about our Social Security Administration and how our deposits are being handled on our behalf.
Here are a few of the major points:
- There are approximately 46,000,000 Americans getting a Social Security check each month
- The average retired worker received about $1,400.00 last month, and that equates to just shy of $17,000.00 a year
- The US Government defines the poverty line for a single person at approximately $12,000.00 a year.
- Therefore, the average retired worker, living on their Social Security benefits,is receiving only $5,000.00 each year above the poverty line
And even more shocking, today, the buying power of the Social Security payments is 34% LESS than it was in 2000!
This trend sees no reversal at this point, especially when a significant number of those in office and their supporters want to continue raiding Social Security, and making it an even less significant part of a worker's retirement income.
Yesterday, I prepared a lecture on the subject and recorded it for the benefit of my wealth advisory clients and the public. Here's the link. I hope that you will take 11 minutes to watch it from beginning to end, and that you will also share the link with your family and friends. Click here. Social Security
Park Avenue Wealth Advisors, LLC
William Cherry, Realtor