What Are You Doing For 2033?
2033 – Are You Ready?
I read the news about Social Security benefits running out today sooner than the trustees of the fund originally thought. This wasn’t exactly new news but just more stunning.
— Breaking News (@BreakingNews) April 23, 2012
2033 – The Numbers
I immediately took out my calculator to figure out how old would I be. The number appeared: 69. Just about the time I would be eligible to retire. Nothing left? After all those years contributing since I was 14.
They went on to further state that congress must:
- Increase the payroll tax rate from its current level of 12.4 percent to 15.01 percent;
- Reduce benefits by 16.2 percent;
- Find alternative sources of revenue;
- Adopt some combination of these approaches.
2033 – What Can We Do?
It made me think. I sure hope we’ll all be doing what we love by then and can continue to long after and still pay the bills with it. Even if they can sustain the social security benefits with their recommendations there will be less of a benefit coming to all of us and we’ll have to be paying into it sooner than later. It’s a loss of money on both sides of the coin. Put more in and get less out.
I hope everyone has some sort of plan. I’ve always liked having a plan B or C. It may be time for plan D, E and F for many of us. I believe most of us know that and many bloggers and entrepreneurs I have met since I started this blog in August do have those plans in place. I feel bad for the younger generation in college. I also read one half of the graduates have not found work and will never be able pay back their student loans. We have passed over the 1 trillion dollar mark in students loans in this country alone. I just can’t fathom that trillion dollar number.
What will it take for us to achieve thriving past 2033?
But heck – we all have until 2033!
What is your plan for preparing for 2033?
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