What will happen to the retirees when Social Security fund would run out of money sometime in the year 2035 and 2040?
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2035 and 2040? Already this year, Social Security will pay out more than it has taken in.
Retirees who believed this would happen will have made plans to get through it, with other investments, those who believed the hoopla from the government will be doing without. It's that simple.
Social Security was said to have been the answer to American's saving problems...no one believed the warnings that it was not a good thing, and now, we see the consequences.
Origianlly, everyone believed that you would pay into SS and when you retired you would a savings account that you could live off of until the day you die. Instead, it is the biggest pyramid scheme to hit the United States, much worse then even Madoff. You pay in today so that those who are retiring can begin receiving their money. Funny thing about that though, the government will decide how much money they will get.
You see, it should be this way, you pay in x and you should receive that back in installments of equal amounts or in one lump sum with interest on it, since the government has been using that money to pay their bills, you have simply been loaning that money to them, just like a bank loans money to you. At the end of the time alloted, you should be paid back in full, but that isn't how it works.
So, what will happen to the retirees? Again, they will be doing without, and will lose everything they have worked for, because they will have nothing to maintain their lifestyles. The great government at work for ya!
And they are supposed to be our representatives - something got lost in that translation, didn't it? Thanks for your insightful comments.
We will get to go back to work and there aren't any jobs....
They are in the red this year. Seems the lock box got lost somewhere. Gregory is right, when we are at the bottom we've got nowhere to go but up.
No one should ever depend on the government to take care of them. This is just a false illusion.
Total Answers: 5, Total Page Views: 545.Don't say that I will be in a deep problem. need to be prepare for the worth.
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