The Diminishing Social Security Safety Net

At age 68, after working hard and raising three kids, and help in the raising of two grandkids, Social Security and Medicare, are the only way my wife Carolyn, 67yrs.) ,and I are able to stay alive for a few more years, and maintain a semblance of dignity.

I recently had “open heart” surgery that replaced a broken Aorta Valve, and a damaged Aorta Artery. There is no question that without this operation, I would not be here. We were not able to save enough money during our working years to keep us financially independent. Ergo, we would now probably now be a financial burden on our kids.

I am very grateful for the social safety nets that are now in place, and I constantly try to appreciate the days, months, and years that I may still participate in our world of family and friends. Our participation is good not just for ourselves, but for our extended family.

So, the way I see it, the social safety net is a benefit to everyone. The social safety nets are, and should be considered a benefit to our country and our society. It saddens me to think that the future is looking so bleak for the younger generation, and for our country, and our society. We are all together in this great adventure called life!

Amplify’d from finance.yahoo.com

3 Ways Your Social Security Payments Are Already Being Cut


by Alicia Munnell
Friday, June 3, 2011

SMlogo

Policy experts have focused on alternative ways of eliminating Social Security’s 75-year financing gap, but lost in the debate is the fact that even under current law Social Security will provide less retirement income relative to previous earnings than it does today. Combine the already legislated reductions with potential cuts to close the financing gap, and Social Security may no longer be the mainstay of the retirement system for many people.

1. The Extension of the Full Retirement Age
2. The Increase in Medicare Premiums
3. The Taxation of Social Security Benefits

Read more at finance.yahoo.com

 

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