On 1/6/05 11:13 PM, in article ,
"escape" wrote:

On Thu, 06 Jan 2005 21:25:23 GMT, K opined:

Cheryl Isaak wrote in
:

On 1/6/05 3:05 PM, in article ,
"Barbara Hass" wrote:

Cheryl Isaak wrote:

Quoting here
Your Social Security benefits are the foundation on which you can
build a secure retirement.

Or, if you are like me, you can kiss that money good-bye permanently
and hope there's something extra to save somewhere for retirement,

[snip]

I fully expect to be denied SS by the time I reach 65 - less that 20
years from now. Ditto DH. We have 401k's and savings and despite
pouring in dollars, will get nothing.

If our present administration does nothing, you will get something back.
The latest reports have Social Security solvent until 2042, and after that,
reduced benefits can still be paid because of money still coming in.

http://www.ssa.gov/OACT/TR/TR04/II_p....html#wp105057

I read elsewhere that the amount of money need to keep the SS trust solvent
past 2042 is a small fraction of the tax cut afforded by the Bush
Administration to the top 1% of Americans. I'll refrain from further
comment on that since I can't find the source. :-)

K

...and people better hope he doesn't privatize it or the only people getting
rich in this country will be the brokerage houses and brokers, which will
create
a false economy (more false than it already is now) and eventually there
will
be a bubble ten times the size of the dot com bubble in the 90s.





I suspect you're wrong there. More people are conservative about money than
you think they are. I think we'll see a new type of growth in the banking
industry, interest deferred accounts and other new savings vehicles.

Cheryl