Let's say your monthly check is a very modest $500. How much money would you have to have stashed away to earn you that amount and retain it's value to keep the checks coming? At today's 0.9% give or take "secure investment rate" including bank CD, IRA. US Savings Bonds it would take a bundle. To support my current share I would have had to be a millionaire!".
Take Medicare, a government sponsored "insurance company" that you pay premiums for, and paid into while working.....My cancer in 2013, list price was $150,000. One shot, to prevent infection after a chemo when all your white blood cells were dead, listed for $10,000.
Thanks to medicare and their bargaining power at the negotiating table with medical suppliers, and the employer for whom I worked and supplied me with retirement benefits, my out of pocket expense was $1750. How much would I have to have earned and stashed away in my IRA to pay that bill and still keep that $500 or whatever is my current monthly check is, coming without loss or reduction.
Question for you: If the Government wasn't borrowing out of the separate SS account to pay it's bills, who would borrow the massive SS stockpile and pay the interest that gets accumulated to grow the account while simultaneously paying out claims? Nobody!
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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