What's Missing From the Social Security Report? - News and Current Events | futures io social day trading
futures io futures trading


What's Missing From the Social Security Report?
Updated: Views / Replies:148 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

What's Missing From the Social Security Report?

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

What's Missing From the Social Security Report?

The most recent Social Security Trustee’s report was generally positive for those retiring within the next 20 years or so. There will plenty of money in the program’s trust fund to pay for full retirement benefits.

But what was missing from the report is the critical information most retirees need to know: How to best “claim” benefits when you choose to retire. I’ll get to that subject later. First, let’s look at the big picture with Social Security:

Since the report covers three big components of the Social Security benefits program — Retirement, Medicare and Disability — you have to break down the funding of each program. The retirement fund is fully solvent until 2033. That means, based on present assumptions, the Social Security kitty will have enough money to pay full benefits until that time. If nothing is done to bolster this fund, benefits will either be cut or taxes raised.

The hospital insurance fund for Medicare is also in pretty good shape, relatively speaking. It has enough money to pay full benefits until 2030. The picture is dim, however, for the disability program, which has been in need of funding and benefit reforms for years. This fund is projected to run out of money in two years.

This doesn’t mean that everything’s hunky dory with the bulk of the Social Security program, which also includes survivor’s and spousal benefits. You have to keep in mind that the fund’s resources will be crunched once Baby Boomers are mostly all into the system over the next two decades and there are fewer workers to pay into the trust fund.

Under no scenario does Social Security, Medicare or SS Disability have enough money in the till to survive the massive retirement of Baby Boomers. Ultimately, Social Security needs a long-term funding fix, although Congress has been loathe to even talk about it. Social Security has become the Voldemort — he who shall not be named — of American politics. Here’s a sampling of the problem, as stated by the public trustees in the report:

“The urgency of addressing the financial challenges facing both programs is underscored by the fact that the financing shortfall in the theoretical combined Social Security trust funds has now grown to a size substantially greater, even relative to today’s larger economy, than the shortfall corrected in the landmark bipartisan Social Security amendments of 1983.

Furthermore, the longer corrective action is put off, the more severe the measures will have to be and the fewer the cohorts who can be asked shoulder a portion of the burden… Unless Social Security’s historical financing structure is to be altered to finance some or all of the program from the Federal government’s General Fund on a permanent basis, and thereby weaken the historical tie between individual contributions and benefits, legislators must act to eliminate this financing shortfall. This task becomes progressively more difficult, and therefore less assured of success, with each passing year.”

So stop fretting about whether or not Social Security will be there — chances are good that it will be around for a long time — start doing your homework on how to best benefit from the system. The time you put in now will make a big difference later.

What's Missing From the Social Security Report? - Forbes

Reply With Quote

Reply



futures io > > > > What's Missing From the Social Security Report?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Privatizing Social Security Next Battleground for Campaign Quick Summary News and Current Events 0 August 19th, 2012 12:40 PM
Social Security's Era of 'Free Money' Comes to an End Quick Summary News and Current Events 0 August 6th, 2012 08:10 PM
Fix Social Security for $50? Big Mike Off-Topic 2 April 26th, 2012 02:07 AM
Social Security 2011 – Another Bad Year Quick Summary News and Current Events 0 December 6th, 2011 06:50 PM
Social Security disability on verge of insolvency kbit News and Current Events 0 August 22nd, 2011 05:13 PM


All times are GMT -4. The time now is 08:50 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.07 seconds with 19 queries on phoenix via your IP 54.160.245.121