| I'm officially part of Generation X and with my | | | | Investment brokers love to give you sample |
| expected retirement timetable it seems unlikely that | | | | calculations for what your retirement fund could look |
| Social security will be around for me the way it is for | | | | like with so much invested and so much return. I |
| grandparents, or even my parents. If the program | | | | remember when mine told me to expect 10% return |
| still exists (a big IF) then it will almost certainly be in a | | | | and I forced him to reduce it to 7% for his |
| reduced form. | | | | calculations. Even that may be too high. They don't |
| Smart financial managers in my generation don't even | | | | like to tell you about market crashes such as what |
| count Social Security in their retirement equations. | | | | 2008-09 saw. The world is a scary place and you |
| Why would you? It's a promise from a government | | | | must start early to protect your own future. It's not |
| that loves to break its promises. Yes, its our money | | | | the government's responsibility to be sure you have |
| and we deserve to get it back, but when is life ever | | | | a cushy retirement. |
| fair? | | | | Probably the only way to save social security is to |
| When I do my retirement spreadsheet calculations | | | | raise taxes. No one really wants that, but without it |
| the box for social security is always just considered | | | | the program would collapse and there'll be a riot in |
| fun money. I will invest now as though that box will | | | | this country. Millions of people are forced to count on |
| be forever blank. If I happen to get something from | | | | that money because they were never taught any |
| Uncle Sam then it's a bonus, money that can be used | | | | differently and trusted that it would be there. Just |
| for travel, gifts for my future grandkids, or extra | | | | like thousands of people counted on huge perks and |
| nights out on the town. It is not something that I will | | | | pensions from the auto manufacturers and now all |
| pay the mortgage with. It's never smart to count on | | | | that money is gone. Nothing is permanent. If you're in |
| something before you actually have it. Nothing is | | | | your 20s and 30s your best bet is to forget about |
| guaranteed except death and taxes. Social security is | | | | the government checks and do what you can to |
| basically a tax the government owes us, so I guess | | | | protect yourself on your own terms. Everything else |
| even taxes aren't fully guaranteed for everyone. | | | | should be a bonus. |