Whew! Glad that was there.
I've encountered numerous books and blogs presenting varied stances on the government-run program known as Social Security. Wealthy individuals often label it "Social Insecurity," advocating for its investment in the stock market. The younger demographic dismisses it as a "Scam," preferring to allocate funds towards new gadgets like gaming systems or smartphones. Those of my generation are hopeful it will be available by the time they reach 62.
New retirees upon realizing their savings, exclaim, "Let's buy a Porsche!" forgetting the need to stretch these funds over 25 to 30 years, amounting to about 800 dollars monthly. They are currently living on about $3,000 a month through savings. This means that, assuming no inflation, they would need between $700,000 to $800,000 to maintain their current standard of living.
Meanwhile, those initiated 62 or older vehemently protest, "Don't touch my Social Security; it's my money!"
Then there are wealthy individuals who label it "Communism" and a scheme for wealth redistribution. They reject it, declaring they have no need for it, saying, "I'm rich." They criticize the program as foolish and designed for those they perceive as underachievers. "This money could be personally invested for a 6 to 7 percent return, rather than the 3 percent offered by bond rates," they argue. I believe they are overlooking the main issue. I aim to shed some light on the matter.
On the other end of the spectrum, there are individuals who save minimally, relying on Social Security to support them throughout retirement. Later, on them.
I will not address the Eeyores in this country. Their plight is obvious.
Moving on, the well to do overlook the era that gave rise to the Social Security program. Consider watching films like Cinderella Man featuring Russell Crowe, Of Mice and Men, The Grapes of Wrath, or The Wizard of Oz. There may be times when situations, whether personal or national, could deteriorate.
That's why, in my opinion, Social Security acts as a supplement or a "safety net" for those broccoli eaters. They don't smoke or chew or run with girls who do. It was not intended to maintain the same level of comfort provided by employment. It was there to catch folks that are not force landed but fall into retirement.
Even the affluent can find themselves in situations where Social Security is their only remaining asset. Consider these plausible scenarios: they could fall victim to a scam, which isn't unheard of, right? They might get involved in illegal activities, such as multi-level marketing schemes. They could invest all of their assets into one company. Nah!
And let's not forget, y'all, they could be over-leveraged with debt in an attempt to amplify their wealth, only to go bankrupt during a drastic market downturn. It's important to remember that even affluent individuals can suffer from dementia and may willingly part with their money. Additionally, there's the possibility of a close family member deceiving them to take their wealth. "These things do not happen!" Let's not get into life changing disabilities.
They will have their modest Social Security benefits, and undoubtedly, they will be grateful for them. Without such support, they might face exposure to harsh elements or suffer from starvation, which is unacceptable in a prosperous nation. Historically, such extreme poverty can incite revolution, and it is often the wealthy who have the means to access good educations. Where do you think movies like "The Purge" come from?
Without programs like SS our nation might implode. Individuals who benefit from their high financial status are often the least interested in seeing the entire infrastructure fail, as they have the most to lose.
I was unaware that my peak earning years wouldn't last until my 60s. Retirement caught me off guard, leaving me feeling like a deer caught in headlights, and I'm still trying to make sense of it all in retrospect. It's come to me very slowly over the last two years. Why couldn't I see this eventuality coming? It's impossible to fire a good teacher, right? We'll explore that lie in another blog.
However, akin to Edmond Dantès in 'The Count of Monte Cristo,' a realization dawned on me this year. I discovered one of the "Good Ol' Boys" misappropriating funds from the choir's fundraising account. The group's leader threatened me to let the matter go. I complied, believing that would be the end of the issue.
I only now come to realize I was working for "The Mob". These men are all friends who grew up together on the same streets and often visit local pubs. Their dads are the town's hall of fame athletes. The sport's facilities are named after their fathers. I lived in Florida until '82 and then in Northwest Montana until '89, which made me an outsider. Doy! My musical abilities made me feel overconfident in my Un expendability.
The Teamsters have each other's backs. This made me a target for termination of employment as soon as the opportunity presented itself. Covid-19 was the perfect opportunity. I was assigned to substitute teach, escort students around the school during other teachers' prep times and supervise the ISS room. I had grown to despise what my job had turned into. There had been virtually no beautiful harmonies for two years-My favorite part of teaching. Bye Bye choir students. Bye Bye choir position. Bye Bye Teddy, Out of Towner. For years, I cried out "sabotage!" yet it appeared that no one took notice. Or cared.
These union scums are professionals at making a toxic work environment.
But I digress.......................
My wife and I find comfort in knowing that Social Security will be there to enhance our retirement years. We are confident that we will have access to medical coverage, housing, and food, barring a global collapse, which is not a concern for us. But SS may be cut! No, it won't, and I will address this sick political game in another blog.
Next, the final category consists of individuals who don't save any money. They spend freely, as if money burns a hole in their pocket. Currently, they're embracing the suburban lifestyle, complete with glossy leased SUVs, 800,000 dollar mini-mansion, and an array of toys.
Their income may exceed $150,000 annually. They own costly thoroughbred pets, complete with a home-attached pet shower. Their homes boast an expensive patio with a grill and an 83-inch brand new premium OLED TV or its equivalent. They indulge in lavish family vacations yearly, flaunting their luxurious life with photos all over Facebook.
We come to a stop beside them at the traffic light and see they're behind the wheel of a brand-new Honda Pilot, enjoying a gourmet coffee and chatting on their latest Apple device. Don't forget the hair extensions and brand-named clothing. These folks are what I call "Fake Rich". They have more liabilities than assets through most of their working lives.
Many of these "fake rich" types will have minimal or no savings at retirement. Research confirms this reality; such individuals often lack even $1,000 for unforeseen emergencies. They may maintain their lifestyle through a single bankruptcy until retirement, only to discover their retirement funds are significantly less than expected, having not considered Social Security much.
Believe it or not, these individuals are often the most vocal in advocating for the sustainability of Social Security. The truly wealthy may not have a significant stake in the matter, but those with perceived wealth certainly do. A 'fake rich" suburbanite now faces the reality of living on a fixed income, and the stress is overwhelming.
How am I supposed to keep my 5-bedroom 6 bath "forever home"? "My husband and I might have to move!" The thought that two people do not require such a large house never occurs to them. "Our American Dream is out of reach!" Yep. The snarky light is on. They want us to believe their living situation is everyone else's problem. "How am I supposed to pay for my leased Toyota 4Runner?" "Everyone must have a safe SUV that is reliable!" I say, "just walk away". This type of retiree doesn't have a clue. Ok, it's off.
The individuals described above are typically Baby Boomers or from Generation X. Social Security will constitute a major portion of their retirement. They have generally lived a life of abundance, often indulging in the ephemeral. Some will plunge into retirement and need the SS safety net. The issue is not up for debate, really.
This is the reason this blogger is convinced that Social Security will remain steadfast. This large population will cast the deciding votes. You'll hear again and again on the deception box; SS is in crisis. Especially around election time. Just know, they are a bunch of liars. Yep, SS is not really broken, and the fixes are pretty simple upon closer examination. There are individuals out there who are significantly smarter than I am, such as my brother.
Politicians like to use Social Security to get out the vote. Multi-Millionaires hate SS because they want access to that money. And it is substantial. Without Social Security, many individuals in the country could face real hunger in retirement. However, you can work, Ted. It's not realistic as your body begins to decline.000 As of this writing, this nation will not allow this scenario. We just won't.......................
I'm tired...............Later
No comments:
Post a Comment