What would say to the person who stated three simple things???
- The Social Security Trust Fund is more than fine, and actually there will be a surplus within 15 years.
- The deficit, even if $10 trillion was added to it today in less than 10 years the overall amount would start to fall.
- Those political pundits, members of the press, even Hollywood is correct… you really do want to give the government more of your money.
Well, we are saying all three things and we are willing to show you exactly how they will all come to pass.
Ultimately, the rules of retirement have changed and unfortunately these changes, even though the government is screaming about them from the roof tops, have all fallen on deaf ears. Not only has the financial industry turned a blind eye towards the changes, even you the investing public could care less too.
In the end though, by February 2018, there will be an awakening and things will change because they have too, not because people wanted them too.
Just like in life: those that smoke never really quit smoking because they want to, but they do when they have too. Those that are overweight, when do they lose those extra pounds... when they have to or else.
The same thing will happen in 2018, the financial industry will have to change, not because it wants to, but, because investors demand it to or else.
Come 2018, when the eldest Baby Boomers receive their first Social Security benefit, in that year, they will quickly notice that the amount they are used to receiving will be a significantly less than the previous amount, the reason: those pesky required minimum distributions (RMD's) they HAVE to take when they reached the age of 70.
See, these RMD's are considered to be income by the IRS and are also considered to be income by Medicare, and as you will find out from the "Rules" page - income is not your friend especially when your health is on the line.
Ultimately, your very own savings will be used against you to increase your premiums for Medicare and those premiums are paid directly through your Social Security. This means the more income that is generated in retirement the less Social Security one will receive and with the Trillions of Dollars invested in tax deferred accounts the...well you should be able to figure it out by now.
The funny part, or when the come to Jesus moment happens: when the Baby Boomers ask when this was implemented, just think of what their reaction will be when they are informed that it all happened 15 years ago, back in 2003.
Social Security will then ask one simple question: "Didn't your financial advisor, the expert on the topic of retirement, know about this?
- Social Security is fine
- The Budget will be paid down
- You want to give the government more of your money...well at least your financial advisor does. They can't wait to give your money to the government.
Welcome to Healthcare in Retirement, our mission: to educate anyone and everyone on how the financial plans of today will impact the health costs of tomorrow....think about it, your own financial plan has become toxic to your health!