Start Planning Now

Many of us do not think about retirement when we are young. It is usually the last thing we think about throughout our entire lives, myself included. Many individuals are too concerned with just making it day to day, and with good reason. Its hard to think about the future when you are struggling to get to tomorrow. The tragedy is that most people put off thinking about the future until the future becomes the present and we are stuck with...(What am I going to do now?). Most individuals who do retire survive on Social Security. Now Social Security is a great plan and has been there for many people for many years. The problem is not Social Security; it’s the people who oversee it. With a government that continues to spend far more than their country has it would be foolish to believe that social security will be there for you when you need it. In-case you are unaware of how Social Security works i will explain it as briefly as possible. The money you pay into it is not being held for you with interest added and given back to you when you decide to retire. The money you are paying into Social Security is being paid right back out to retirees tomorrow. It is a ponzi scheme. If you are unfamiliar with this notion please google it. Simply put, The government is trying to bring in more money than they are paying out and such a scheme works well momentarily, so long as there are no fluctuations in the payout, and as long as the money is not used to fund over the top governmental spending habits. The problem we are facing is that the generation known as The Baby Boomers, are entering their peak of retirement age. There are 2 ½ to 3 times the amount of baby boomers retiring as there are young people working and paying into Social Security. This is currently the beginning or the retirement of the Baby Boomer Generation and will continue, and continue to rise, every year for the next 25 to 30 years. Most liberals will tell you that Social Security is sovereign and will continue to be, but think about it. If Social Security was sovereign than why is the government discussing changing the retirement age to 67 (to collect full benefits)....

Lets assume that the government goes forth and raises the retirement age to 67, and then (because of governmental over spending), is forced to raise the retirement age every 7 year by 1 year. A person who is 25 now will not be able to collect Social Security until they are 73 years old. Now consider this, over the next 30 years Social Security will be forced to pay out more and more in benefits every year. Now consider this, unemployment continues to grow and get worse year after year, so there are fewer and fewer individual paying into the system. It doesn't take a mathematician to figure out what the answer to this math problem is. If you are a young adult, do not be naive enough to believe Social Security will be there when you need it, it won't be. I urge everyone to start preparation now to support themselves for their own retirement. DO NOT PLACE ALL YOUR SAVINGS INTO THE STOCK MARKET. Figure out how much per month you want to put away. Place a third of it into something safe, a third of it into something risky (with high reward) and a third of it is liquid assets (gold, silver valuables). I'm 37 years old and I have been vigorously planning and saving for my retirement. Something is better than nothing, and the best time to start is yesterday. I fear the worst is to come and I wish everyone who reads this story the best of luck.
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26-30
Jan 6, 2013