Social Security Retirement Information

The Greatest Retirement Crisis in American History 

… is about to befall many Americans. This year your government is quietly taking away Social Security benefits from millions of Americans.

greatest retirement crisis american historyEven though the USA has the largest economy in the world, its retirement benefits for retirees are amongst the lowest in the western world.  

If you consider that the average Social Security monthly benefit check is less than $1,300 a month (a paltry $15,600 per year) when the average income is more than three time that amount, at $51,939 p.a.

But How?

If that’s not enough to make you shudder, Bloomberg reports that many Americans aged between 55-64 years old have a median amount of around $14,500 in retirement savings.

In fact according to the Associated Press back in 2011, many people who were eligible for retirement reported:

  • 60% had lost value on their investments because of the economic crisis
  • 42% were delaying retirement due to insufficient capital
  • 25% they could not afford to retire (and are currently still working)

If this assessment is correct then many Americans will need to focus on income replacement instead of wealth accumulation because even if they set aside $15,000 to $25,000 a year for retirement, in twenty years they still won’t have enough money to retire on, without social security to top up the increased costs of living.

Yet this year (2016) the government is taking away many Social Security benefits from millions of Americans.

Making Money After Retirement

Making money after retirement age is going to be a major focus for many retirees in the near future because many people were bankrupted by medical costs, or job losses and foreclosures during the last financial crisis and of course there are those that just didn’t save anything at all.

But no matter how they got there, this group is going to be relying solely upon social security in their retirement years. This group accounts for just over 30% who are entitled to receive those payments and for many this is all about to change.

Latest Research

There is already a huge amount of research on the problems that will confront those social security retirement informationlooking towards retirement – in the near term.

Even if you had $100,000 set aside for retirement and used it to buy an annuity it would pay you a monthly income of around $560 per month, but you would risk outliving your money if you lived longer than the expected 85 years of age.

As for those that did manage to save more than $20,000 a year, the issue isn’t just developing a future stream of income. It’s having confidence that the future income will actually amount to something when the time came to live off it.

The Promise

Baby boomers were told that if they worked hard and saved, they could spend the last quarter of their lives living comfortably and free from financial worries. Their parents told them. Their employers told them and even the government told them and took money from them to fund that retirement.

But now as many are reaching retirement age, the promise is beginning to look like a big fraud. 

Most people expect that when it comes to their retirement that they have enough money saved up to be able to afford a monthly income that is substantially more than social security. 

Yet very little is being openly said about this looming problem or that fact that the government is making big changes that will affect you and your social security entitlements.

Meanwhile, the world’s attention is focused elsewhere.

The World is Watching China

China’s stock market is the second largest in the world, behind the U.S. and has recently seen two major drops that sent ripples around the world and has impacted other stock markets due to the interconnectivity of the global economy.

Even though the Chinese government put rules in place to ‘prevent‘ sudden drops in the market with its new “circuit breaker” rules, which automatically suspends trading. The selloff still wiped out hundreds of billions of dollars before the market was forced to close.

greatest retirement crisis american history

While these maneuvers may stabilize the market temporarily, they’re not helpful because intervention creates price distortions and does nothing to restore market confidence, which after all is the reason that all stock prices rise and fall.

But, like most government rules, this will do more harm than good, as closing the market only serves to temporarily mask the underlying problem.

China’s economy has peaked and will continue its downward slide, despite its government’s intervention and hundreds of billions trying prop it up.

The story for the rest of the world – is the same. Government intervention in the economy creates more problems than it solves and the U.S.A is in the same situation.

The Real Reason the Global Economy is in Decline

The greatest economic downturn in history has already begun and politics or more economic policies will not solve the problem.  It’s to do with simple demographics. greatest retirement crisis american history

I am talking about the largest group of consumers the world ha ever seen, the ‘baby boomers  These Baby boomers are the people born between the years 1946 and 1964, having an age range between 51 and 70 (as of 2016).

This demographic group has created an unequaled spending wave of consumerism that the global economy has ever experienced before and never will again. 

The Big Lie

It’s not that the governments of the world don’t know this. Instead, they have blatantly lied to us and have taken the undeserved credit for the economic benefits, this demographic group created during the last 60 years or so.

This large group of consumers is now beginning to change their spending habits, and this change in spending is the real reason the global economy is in decline. These are the same people who are now looking towards retirement.

Which will also going to trigger the greatest retirement crisis in American history? These are the people who have been paying into the system and are now expecting to get something back for their lifetime of ‘investment’.

Undue Credit

The Government having taken undue credit for creating ‘global prosperity‘ are now scrambling to protect the illusion that they ‘serve the people’. They desperately hope no-one awakens to the fact that Government interests and those of the citizenry are not aligned and that that the ‘people’ have been subjected to the biggest scam in the history of humanity. That government is necessary and beneficial to society.

“They are NOT and soon we will ALL discover exactly how irresponsible they have really been with our trust, our lives and our money”.

Their meddling in our economic affairs and privates live has never been about our protection and security, but rather about ‘protecting them from us‘. They simply don’t have the money to pay for the ‘promised retirement‘ that millions of people are expecting. 

If you want the truth it’s in this video below:  Here’s what Politicians should really be telling you…

Wow! – This it’s actually true. Social Security and Medicare are not “rights” in any sort of legal sense.

In fact, the federal government is under NO obligation to pay you a Social Security check, according to a ruling of the United States Supreme Court, as far back as 1960. Congress can eliminate them at any time.

“So it is true that you are not “entitled” to anything, and these entitlements are certainly not guaranteed, legally or otherwise”.

They exist only at the whim of those in power and only in order to barter for your votes.

What may annoy you, even more, is starting in 2016, your government is taking away three years’ worth of Social Security benefits from more that 32 million Americans and you could be one of them.

Social Security Retirement Information

There is still time to maximize your entitlements BEFORE they disappear forever. You may want to get a copy of The Social Security Retirement Guide, social security retirement informationwritten by Jim Blair a former Social Security Administrator.

In this publication, he outlines exactly how to maximize your benefits (while you still can) which frankly is a must read for anyone planning on achieving any sort of quality retirement in the next few years…

It includes email support for questions and provides access to all future updated editions as well as being an excellent source of information about how to maximize your dwindling entitlements. YOU can get your copy here: The Social Security Retirement Guide.

Don’t Rely on The Government

It’s not the Government that is going to save the economy. It will be the innovators, the entrepreneurs, and the superheroes, that will bring about the economic salvation the world desperately needs. 

It is going to be people like you and me. People who become educated about what’s really going on and who recognize that the Government is NOT going to save them. 

People who take their own economic security into their own hands. People who want to make a difference and who want to provide value and benefits to others.

If you are asking yourself what can you do? What skills do you have, how can you provide values and benefits to others? Then what I about to tell you next may interest you.

Make Money During Retirement

Today almost anyone can build a successful online business from home and earn a good living. What is important is that you find something you are passionate about and you need to just write about it. Because with the right education and research, you can easily find ways to monetize almost anything you write about. 

Of course, you will need to know how monetize your writings and one way of doing this is by creating a website and using affiliate marketing.

Essentially this involves having informative content that is engaging to readers and the occasional link to products and services that benefit your visitors in ways that will provide solutions to any problems they may have. 

There are hundreds (if not thousands) of affiliate programs offering commission sharing arrangements that reward you handsomely for your efforts. Or if this is too radical for you, you could always go and teach in China where it’s still cheap to live.

Getting Educated

Fortunately, there is an excellent place to get the education you need, where you can learn at your own pace, how to create a successful long term, online business.

You receive up-to-date knowledge about website construction, traffic generation, SEO, keyword research, content creation and lots of help and the answers to all your questions, from the community of friendly and dedicated members.

View the short video below…


To see how I made this video 

making money for retirement

Best of all you can begin for free and stay a free member for as long as you like and if you elect to upgrade to a full membership the additional value you receive in exchange is worth many times the low monthly membership fee.

You can try it first, build a website (or two) and even make money before you pay anything! 

Well worth a look before the greatest retirement crisis in American history sets in and changes everything and you can find out more about this program right here


(To see how I made this video)

YOU can get your copy here: The Social Security Retirement Guide.

If you have enjoyed this post about “Social security retirement information”, please feel free to share socially or leave a comment below;

 

About Peter

An International Speaker, Writer and Internet Marketer, living in Shanghai, China, teaching Business / English at a Chinese University and making a difference to the world, bringing you great information and recommending awesome products that will make earning online while living internationally - a breeze. http://onlineaffiliatewealth.com

18 comments

  • Vallery

    Hi Petervcrisp, after going your article, it tells me that as a young man, i have to work hard and think seriously about the future.

    I also understand your advice on not relying on the Government because one never knows the kind of strategies that politicians will put forward to manage an economy.
    .
    Taking things into our own hands is definitely the way to go.

    Thanks for sharing and all the best.

    • Peter

      Hello Vallery Thank you for comments and yes if you are young then you definitely want to get started now building an online income because your financial security will be entirely up to you because the government will not be able to help you in your retirement, starting real soon. Pleased yu found the post of interest. 🙂

  • Hi Peter. I live in the UK and have been self-employed most of my life. Retirement is becoming more of a concern with each passing day. I have bookmarked your site and will return to do more research on making money online. Thanks for the information and interesting read
    Victoria

    • Hello Victoria Thank you for your comments. The situation I describe is probably similar there as well. I am actually a kiwi who has spent time in the US so that’s my audience but these posts and the information is applicable to most western countries. Enjoy the free ebook that is on it’s way to you for leaving a comment. 🙂

  • Katie

    Great information and great article. After reading your article I completely understand why you are in this business trying (or dong it) to make money online. I am 23 and I haven’t started saving money and I am sooooo scared for the future. I feel like you should be able to save a huge amount of money to be able to retire… and it’s so sad because I see a lot of people who are 65 going back to work because they ran out of money.

    • Peter

      Hello Katie Yes and there are going to be many more running out of money in the future and young people (such as you) will not be getting anything from social security when it’s your time. It will be well and truly over by then so starting now and learning how to create an online income is smart thing to do because it will be up to you to create your own retirement plans. Thank you for your comment. 🙂

  • Robert Basaker

    Wow, Peter you really cover it all in your article. I am 62 years old on permanent disability. I am more than a little concerned with the latest developments her in the US. This year we had no cost of living increase but congress decided to vote themselves a pay raise.
    Do you know if disability payments will be affected but the current cuts?
    It appears people need to wake up and not rely on the government. We need a good backup plan and that is why I started my own internet marketing business with
    Wealthy Affiliate University. For your readers, I started with zero experience and by the 4th day of training, I had created published 2 Free websites. When I had questions I could go to the 24-7 Live Chat for answers. They give you all the training, support and tool you need to become successful. Hope to see you on the inside.
    Bob

    • Peter

      Hello Bob thank you so much for your comments. Yes the government is not our friend and the sooner be begin to look after our own financial security the better off we will be Why Start an Internet Business Pleased to see you already have started and I agree with you Wealthy Affiliate is a great place to do just that. Thank you again for your comments 🙂

  • Though I know I should have started planning for retirement the day I started working, it didn’t really start to concern me until I hit my late 20s/early 30s. Even then, I didn’t do much about it. These last few years, though, I’ve been extremely concerned. I still have a few decades to save, but already I know I’m behind. When you talk about individuals only having a small savings for retirement, it’s unfortunate. Like me, I think most people put off working toward retirement until they’re already behind. And with SS an uncertainty for most of us, we really need to get on the ball. Thanks for sharing and making it real.

    • Hello Renee Yes it’s not a good time be retiring and tomorrow it’s going to be worse as the governments start to renege of their obligations to the people. I say renege because for too long they have been lying to us and we have believed them. Our economic security really rests in our hands and the sooner we start to do something about that the better off we will all be. Building an internet based business without boarders makes sense because it is something almost anyone can do ans Wealth Affiliate can help us to start that journey. Thanks for your comments 🙂

  • Nancy Boey

    Your website is extremely clear with just the right information when you are trying to make money online. I could not stop reading. It is no bullshit honest information. I will be asking for your e-book. I just read your post on the retirement crisis. It is a bit similar here in Belgium. I already know I will hardly have a pension. I am on an invalidity benefit now and when I come of a retirement age it will be a big problem. Thank you for all the information on earning online. I am not afraid to work hard.

    • Peter

      Hello Nancy Thank you for your comments. Yes it’s going to be the same all over the world because all governments are similar (no matter what they call themselves) in that they are not there for the people. The people are just wage slaves for them and all the rules they put into place are for them and not us.

      That’s why its important to create your own financial security and Wealthy Affiliate is one way to do just that. Thanks for your feedback. 🙂

  • Nancy Boey

    Your website is extremely clear with just the right information when you are trying to make money online. I could not stop reading. It is no bullshit honest information. I will be asking for your e-book. I just read your post on the retirement crisis. It is a bit similar here in Belgium. I already know I will hardly have a pension. I am on an invalidity benefit now and when I come of a retirement age it will be a big problem. Thank you for all the information on earning online. I am not afraid to work hard.

    • Hello Nancy Thank you for your comments. Yes it’s going to be the same all over the world because all governments are similar (no matter what they call themselves) in that they are not there for the people. The people are just wage slaves for them and all the rules they put into place are for them and not us.

      That’s why its important to create your own financial security and Wealthy Affiliate is one way to do just that. Thanks for your feedback. 🙂

  • Mac

    Hey Peter,
    Great article about Social Security. Years ago the Social Security trust fund was a separate entity from the general funds that our government used to pay its bills. But then the government took the Social Security funds and put them in the general fund to pay for bills. So now there are just a bunch of IOUs. And you’re right. the government can take away your Social Security funds. It reminds me of a military person or military officers retirement. It’s really not a retirement it’s a retainer and that retainer can be taken away at any time. Really, anyway you look at it the government protects itself at the expense of the people. It’s my advice like you said in the article to try to find some way to start a business and save money for retirement. If you don’t, you’re not doing that you will not have much of a life. Thanks for a great article!

    • Peter

      Hello Mac I totally agree. Everything the government does is B.S and designed to get them votes. Governments do not create wealth they destory it. Wealth comes from doing business within the confines of rules and regulation set down by law for the government’s advantage.

      In the video clip on the post Frank Underwood’s comments are spot on in my view.

      My Advice is to start building your own income stream by following the course provided at Wealthy Affiliate which gives you the tools to create a long term, sustainable, online business that will provide an income for you well into the future. Thanks for your feedback 🙂

  • cutepackagingbeautyproducts

    Hi Peter! A well-written article on the social security benefit in the US. Do you view the social security benefit as a ponzu scheme?

    Well I do agree with what you have written. People should not rely on government for their retirement funds. One important I believe in is that everyone should start planning for retirement young as time is on our side. Do you have any advises for someone of my age (mid-20) on how to plan/save up for retirement?

    • Peter

      Hello and thank you for your comments. My Advice is to start now building your own income stream that dosen’t rely upon government jobs or funding. The course provided at Wealthy Affiliate gives you the tools to create a long term, sustainable, online business that will pay you well into the future. You question about the Government Social Security being a ponzi scheme…. of course it is! as are most government sponsored schemes, Everything they do is B.S and designed to get them votes. Governments do not create wealth they destory it. Wealth comes from doing business and its people they do the business within the confins of rules and regulation set down by law for the governments advantage. Thanks for your feedback 🙂

Leave a Reply

Your email address will not be published. Required fields are marked *

*