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Friday, February 12, 2010

Social Security the BIG old Elephant in the Room

I have worked in the past with kids in Group Home Facilites. Many of them had various problems:ADD, Conduct disorder, past life of crime, etc. NONE of them were out of touch with THEIR reality. If presented something that they had never seen before, they never denied its existence, they tried to figure out how it came into being. I never worked with kids that were out of touch with reality.
I really believe that people that work in Washington DC are 100% totally out of touch with reality. I believe this for various reasons, but for this post I will focus on Social Security. I have been a vocal critic of the current Social Security "Retirement" System. I have felt for years that is financially unsound; for many reasons to numerous to list here on this blog. Here is the bottom line: Social Secuirty is on the verge of bankruptcy. Here is the article that discusses the problem:

http://finance.yahoo.com/focus-retirement/article/108747/next-in-line-for-a-bailout-social-security?mod=fidelity-readytoretire

How does this problem impact you and your personal finances? It depends on your age. If you are not a Baby Boomer, when putting together your financial plan, DO NOT FACTOR in Social Security as part of your retirement income. Call Me directly to get an secure retirement plan: 919-352-9260.