a must read, JUST REALIZED THAT WITH REQUIRED AUTO DEPOSIT, I NEVER GET TO SEE THE CHECK .... ALERT EVERYONE YOU KNOW. THIS AFFECTS ALL OF US. *Subject:* SOCIAL SECURITY becomes FEDERAL BENEFIT CHECK Have you noticed, the Social Security check is now referred to as a Federal Benefit Payment? Ill be part of the 1% to forward this. I am forwarding it because it Touches a nerve in me, and I hope it will in you. Please keep passing it on until everyone in our country has read it. The government is now referring to our Social Security checks as a Federal Benefit Payment. This isnt a benefit it. 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, thats 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 youd have more than $1.3+ million dollars saved! This is your personal investment . Upon retirement, if you took out only 3% per year , youd receive $39,318 per year, or $3,277 per month . Thats almost three times more than todays average Social Security benefit of $1,230 per month, according to the Social Security Administration. (Google it - it is a fact). And your retirement fund would last more than 33 years (until youre 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 didnt have a referendum to ask us if we wanted to lend the money to them . And they didnt pay interest on the debt they assumed . And recently,theyve told us that the money wont support us for very much longer . But is it our fault they misused our investments? And now, to add insult to injury, theyre calling it a benefit , as if we never worked to earn every penny of it. Offered by John C. Just because they borrowed the money, doesnt mean that our investments were a charity ! Lets take a stand . We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government . Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it. *Then call it what it is: Our Earned Retirement Income.
Posted on: Tue, 21 Jan 2014 20:57:52 +0000
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