Â Pay attention to your next Social Security income, whether you get a check or an electronic deposit....note what it is now called...see below..
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SOCIAL SECURITY NOW CALLED 'FEDERAL BENEFIT PAYMENT' /ENTITLEMENT!
Have you noticed, your Social Security check is now referred to as a "Federal Benefit Payment"?
I'll be part of the one percent to forward this.
I am forwarding it because it touches a nerve in me, and I hope it will in you. Â
Please keep passing it on until everyone in our country has read it. Â
The government is now referring to our Social Security checks as a âFederal Benefit Payment.â
This isnât a benefit â its earned income! Â
Not only did we all contribute to Social Security but our employers did too.
It totaled 15% of our income before taxes.
If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in social security ($375/month, including both
your and your employerâs contributions) at a meager 1% interest rate compounded monthly, after 40 years of
working you'd have more than $1.3+ million dollars saved! This is your personal investment . Â
Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month .
Thatâs almost three times more than todayâs average Social Security benefit of $1,230 per month, according to the
Social Security Administration (Google it - itâs a fact).
And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)!
I can only imagine how much better most average-income people could live in retirement if our government hadÂ just LEFT IT ALONE.
Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did.
They took our money and used it elsewhere. They âforgotâ that it was OUR money they were taking.
They didnât have a referendum to ask us if we wanted to lend the money to them.
And they didnât pay interest on the debt they assumed.
And recently, theyâve told us that the money wonât support us for very much longer.
But is it our fault they misused our investments?
And now, to add insult to injury, theyâre calling it a âbenefit,â as if we never worked to earn every penny of it.
Just because they âborrowedâ the money, doesn't mean that our investments were a charity!
Letâs take a stand.
We have earned our right to Social Security and Medicare.
Demand that our legislators bring some sense into our government â
Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it.
Then call it what it is:
Our Earned Retirement Income.Â Â
99% of people won't forward this.