Warning - this is a possibly boring and/or controversial diatribe - so do not read if you easily offended or if it makes you want to right rude or combative comments on my blog - come back next post after I write about our sweet Lake Powell trip :)
I don't think I look or act stupid most of the time. Ok except when the grocery clerk rings up my ice cream twice and I don't catch it until I get home - but that's probably more just not being vigilant right? (Grrrr happened last night). Or me eating my newly homemade granola until my tummy hurt - but that's more just making unwise eating choices right? Or me buying a gallon of milk grocery shopping each week and then throwing most or all of it away when it expires - I know I really should just buy a half gallon...
Anyway, this weekend we got Jeff's Social Security benefits statement saying what he will get when he retires at this point. On the front middle of the page highlighted reads "Will Social Security still be around when I retire?" and it goes on to say
"YES". Most people probably stop reading there - content - and go on their merry way. But, if you read on further (
because let's be honest - I was a little surprised) it says if there are not changes made, the Social Security Trust fund will be depleted in 2037. (For those of you who were not English majors, depleted = gone, bankrupt, sucked dry.)Now I must admit I was a finance major and do carry a financial calculator in my purse at all times, but anyone that can do simple math can figure out how old they will be in 2037. Jeff will be 54. The current retirement age is 65 and so far I have not heard of the retirement age getting younger- if anything they are pushing it back older and older. So it appears to met there was a BLATANT lie in the statement that there will still be Social Security Benefits when we retire.
Basically we put in 6.2% of our income each year to a huge ponzi scheme, but it is somehow ok because the government runs it. In my own little utopia - we would do away with any Social Security taxes, let the exisiting funds pay out those who are retired, and privatize retirement savings for everyone else (I know this is a crude outline so please do not debate me over any flaws and how this would be impossible). How nice would it be for ME to decide how I want to invest that 6.2% in whatever investments I please - it is my money afterall.
Anyway, long story short, I do not expect to see a penny of Social Security and we have/will happily plan for our retirement accordingly :)
P.S. Take that Uncle Sam - then we can retire whenever we want!