New Social Security Benefits: Two Free Movie Tickets... (No Popcorn)
“Zach, you’ve been a great employee and helped this team a lot. So this year, we’re giving you a 3% raise.“
The words stung. I had been busting my chops for a year… Getting to my desk an hour before most of my co-workers, and usually the last one to leave at night. And yet, all I was getting for my effort was a measly 3% raise on my $22,000 salary.
I was livid!
“You see, we’ve got a scale that we have to stick to for your position” said my boss. “For top performers, we can give as much as 3%. And for the worst performers, we only give a 1.5% raise.”
“Your 3% raise means we’re exceptionally pleased with you. You’re doing a great job!” The encouragement didn’t ease the frustration.
Unfortunately, the 3% raise I got from my first job out of college was significantly bigger than the raise Social Security recipients can expect to receive next year…
“So I worked my butt off for the last year to earn 1.5% more of a raise than the guy who shows up late every day.”
I tried to say the words as respectfully as possible. But I’m sure my boss could hear my anger loud and clear. My first performance review was teaching me a lot about corporate bureaucracy, and I didn’t like what I was seeing.
Thankfully, my pitiful raise gave me the incentive to start looking for a new job. And within a few months I had signed on with boutique hedge fund in Atlanta — where I would learn all about generating income from the market.
An Insulting Raise for Social Security Payments
In 2018, Social Security recipients are projected to receive a 2.2% increase in their monthly payments. For most seniors who receive these payments, that’s an extra $28 each month.1
Wow! A whole $28 that you can spend anywhere you want!
That’s about the cost of two movie tickets. (If you’re not planning on getting a drink or popcorn.)
The 2.2% cost of living adjustment (or COLA) is supposed to help with inflation. So that as living expenses increase for seniors, income from the Social Security Administration will also increase.
Of course, inflation statistics have been exceptionally low over the last few years. In my opinion, the government statistics on inflation have been kept artificially low because the government desperately needs to keep interest rates low.
As I type this alert Monday morning, the national debt is sitting at $19.852 trillion.2 And counting…
Below is a quick screenshot I took of the US debt clock around 10:30 this morning. Go to www.NationalDebtClocks.org when you read this and see how much the national debt has increased just this morning.
With so much debt, the United States needs low interest rates to be able to afford the payments on its debt and to re-issue new debt at affordable levels.
And don’t forget the massive amount of consumer debt in the U.S. This debt helps to fuel our current economic growth. But it also needs low interest rates to be sustainable. And for interest rates to stay low, the Fed needs to believe that inflation is also low.
That’s where we get the manipulated data on inflation.
Inflation measures are coming in low, because they NEED to be low to sustain our current debt situation.
And who gets caught in the crossfire?
That’s right! Seniors who rely on Social Security payments to fund their retirement!
Low inflation statistics mean low cost of living adjustments. Which means Social Security recipients are getting insulting raises to help with higher medical bills, higher assisted living payments, and other expenses that keep creeping higher…
Take Matters Into Your Own Hands
By now, I’m sure you’ve realized that you can’t count on Social Security (or any other government program) to take care of you during your retirement years.
Heck, the trustees for the Social Security Administration expect the program’s resources to be depleted in 2034. That’s just 17 years from now! (And Medicare is expected to run out of money even more quickly – in 2029, or just 12 years from now.)
Lawmakers will likely find a way to extend Social Security and Medicare beyond those dates. But their “solution” will almost certainly include cuts to benefits you will receive.
The good news with all of this is that you don’t need to count on the government to pay for your retirement.
I’ve made it my personal mission to uncover the best opportunities for readers like you to build and protect your wealth. It’s the same kind of research that I used to do for my wealthy hedge fund clients.
Only now, instead of helping the rich get even richer, I’m showing these wealth-building strategies to you so that you don’t have to rely on a 2.2% cost of living adjustment to fund your retirement.
Today, there are many ways that you can pull income from the market. And we’re talking about much more income than the paltry $28 per month increase for Social Security recipients.
Subscribers to my Income on Demand service have been able to pull more than $15,000 from the market this year alone. And we’re just over halfway through 2017. (The best part about this instant income strategy is that it’s so easy, even an 8-year-old can do it — as you can see here.)
My point is that it’s time to stop relying on the government to take care of your retirement.
After all, our nation’s obsession with debt is taking priority, leaving seniors and retirees to fend for themselves.
Thankfully, “fending for yourself” can be extremely lucrative. That is, if you know how to pull reliable income from the market.
So please stay tuned to The Daily Edge to keep tabs on the many income-generating opportunities that can help make your retirement more lucrative and more fulfilling.
Here’s to growing and protecting your wealth!
Editor, The Daily Edge