The annual report on Social Security is out. The insolvency date is now 2042, though the economist I heard on NPR tonight said this is probably optimistic, since it is arrived at by calculating the money paid in and the money paid out for a year, and doesn't take into account the promises made to future beneficiaries. Me, for example.
In 2042, I will turn 64. Is it any wonder I don't much care what happens to Social Security? I'll spend the next thirty-odd years watching money get siphoned off my wages, only to see the system I pay into disappear right before I get to reap benefits. When I get my annual Social Security statement, I just sigh and look at all the money I'm working for and will never see, then call up my financial planner and see how much more I need to squirrel away so I can actually retire myself.
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