Elkarlos wrote:
I have to wonder how much longer Social Security will be solvent.......it is waaaay underfunded and I don't see any influx of capital to shore it up. I am 50 and not planning on receiving it. Hell, by then we probably WILL be fully socialist and we can all go to the soup kitchen. One can only hope they'll serve pink snapper occasionally.
Guess what, I'm almost 59 (July) and I'M WORRIED...
40% of all Fed expenditures are currently borrowed, it is growing. The % of working and earning individuals in the USA (and Europe) is shrinking rapidly and the % of Fed beneficiaries is rapidly growing. Worse in Europe, Greece, Cypress, etc., Watch what happens there to see into our future.
Ben Bernake, our chairman of the fed reserve is printing money so fast you would think he borrowed corvette engines from Government Motors to run the printing presses. They are -ahem- not entirely honest about inflation behind the scenes..
.
The current big fight in D.C. over the "sequester" is based on cutting 2% OF GROWTH IN FED SPENDING.
This is akin to an average working sucker deciding he is going to increase his credit card balances continuously every month by a massive amount compared to his income and he can't decide what to do if he is forced to cut the extra borrowing by 2%...
Retire as soon as you can, if you can, escape to Costa Rica, keep getting laid, wait for Armageddon...
You guys are missing the point. Bernanke's plan is to default through inflation. You will get your social security check. But the check will buy less. I am not trying to discourage anyone from retiring early, I am just saying don't count on your social security keeping up with inflation. It is specifically designed not to keep up with inflation.
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