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Missed Fortune – The Dangers of Social Security

Posted on | February 6, 2011

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Worse Than the National Debt

We currently have a National Debt in excess of $14 trillion. That’s up $5 trillion from just four years ago.

Even more critical than our debt – which is accruing interest at $50 million an hour – is the $62 trillion of unfunded liabilities of Social Security.

The government owes $62 trillion to those of us who faithfully paid into the system. They withheld it from our paychecks and that’s what they owe us in today’s dollars.

Do you know how much that will cost in tomorrow’s dollars? In excess of $100 trillion.

A few years ago, the government said Social Security won’t be in trouble until 2042. Then they moved it up and said 2017. Then, in October 2009, Social Security paid out in benefits more than it took in from people’s paychecks.

We’re already in trouble.

Congressional budgeters recently announced that Social Security accounts will no longer be in the black again if current income levels and payouts are maintained.

We have another two years at current tax rates, but after that, rest assured: sooner or later, taxes will be going up and dollars will be worth less. Inflation is just around the corner.

You need to insulate your hard-earned money from taxes and inflation using safe, proven strategies.

I can teach you how.

Solving Your IRA and 401(k) Dilemma

In 2007, I was interviewed by Time magazine. I told them I didn’t own an IRA or 401(k) and never would. They didn’t publish the interview, but two years later they changed their tune.

In 2009 – a year after so many Americans lost 30 to 50 percent of the value of their IRAs and 401(k)s – Time called the 401(k) a lousy idea and a financial flop.

IRAs and 401(k)s are a good way to save for retirement, but they are a far cry from the best way. Roths are a little better, but they’re a far cry from the best way.

I’ve used a safe investment strategy called indexing.

My principle is protected and I don’t lose when the market goes down. When it goes up, I’m credited with whatever the index of my choice earns.

Many Americans lost a lot in the values of their IRAs and 401(k)s in 2008, but I can tell you when you will experience the greatest loss: the day you begin withdrawing.

You need to start avoiding these blunders. You need to convert your IRAs and 401(k)s into smarter, safer strategies. Now is the time.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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