KEEP PASSING THIS AROUND UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT... THIS IS SURE SOMETHING TO THINK ABOUT!!!! THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE SOCIAL SECURITY IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED A SOCIAL SECURITY CHECK!!! WHERE DID THAT MONEY GO?
Remember, not only did you and I contribute to Social Security but your employer did, too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that's close to $220,500.
Read that again. Did you see where the Government paid in one single penny? We are talking about the money you and your employer put in a Government bank to insure you and I that we would have a retirement check from the money we put in,not the Government.
Now they are calling the money we put in an entitlement when we reach the age to take it back. If you calculate the future invested value of $4,500 per year (yours & your employer's contribution) at a simple 5% interest (less than what the Government pays on the money that it borrows), after 49 years of working you'd have $892,919.98.
If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.
Another thing - if someone died in their 50's or before, they never withdrew one cent of their social security money that they paid into all their lives - so that money just went up in smoke?
THE FOLKS IN WASHINGTON HAVE PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADOFF EVER DID.
Entitlement my foot, I paid cash for my social security insurance! Just because they borrowed the money for other government spending, doesn't make my benefits some kind of charity or handout!! Remember Congressional benefits? --- free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days.
Now that's welfare, and they have the nerve to call my social security retirement payments entitlements? We're "broke" and we can't help our own Seniors, Veterans, Orphans, or Homeless. Yet in the last few months we have provided aid to Haiti, Chile, Turkey, Egypt and Pakistan.
Literally, BILLIONS of DOLLARS!!! And they can't help our own citizens in New York and New Jersey! They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives, and now, when it's time for us to collect, the government is running out of money.
Why did the government borrow from it in the first place? It was never supposed to be part of the general fund.
Pass this Email on !!
Patrick Brennan
Sales Manager
First Electric Motor Service
Direct line 781-491-1132
Cell 781-771-1849
pbrennan@firstelectricmotor.com
www.firstelectricmotor.com
Sales Manager
First Electric Motor Service
Direct line 781-491-1132
Cell 781-771-1849
pbrennan@firstelectricmotor.com
www.firstelectricmotor.com
I would like to add something that 3 weeks ago I called Social Security Department for my mother in Law who is 57 years old and has been working for over 15 years. I ask about how can she collect her social security, and the answer was that she needs to be 62 years old to start collecting, and I said to the agent so what happens if she dies before that???
The agent just didn't reply then I started thinking about people that I know that are in there 45-50 years of age, so basically they would have to work for the next 17 years hoping to collect some money... the reality is not everyone is saving for retirement, or have an well executed plan for it.
We better pay attention to it now.
Lenin E. Ramos Investor
Email: leninramos809@gmail.com
Ph: 781-924-6014 | Cell: 978-397-6014 | Fax: 978.296.3477