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Republicans are going to do their best to cut your benefits. Don't vote against your best interest. Ryan is behind cutting medicare and making it a voucher program. The end result would naturally be less coverage for seniors and catastrophic if you had cancer and used your credits up. No such worries under medicare now.(with a supplement )
The answer is of course to put these no good politicians on the same programs we have and see how quickly they get fixed. These politicians work a few years and then get a pension. These politicians also can vote themselves a raise whenever they want. Yes, it's a racquet.
I'm doing 62. Currently I'm building up residual income sources through network marketing. I look at it this way. Build with youth and if youth catches on that income can go on for a long time. Then there's annuities. The key to retirement from what I have personally seen is guaranteed income.
What is the monthly guaranteed income coming in every month? That's the retirement bottom line. If married then consider life insurance for the spouse if there's going to be a drop in income at death. Keep it simple.
Network marketing as a long term guaranteed income source is dicey. You're assuming the company stays in business and people stay in your down line. Very FEW people make any money in network marketing.
To all who recommend I not RELY on SS as my only income - rest assured I am not. I'm also saving like a madwoman into my 401K and a Roth IRA, and will also have a small pension from my current company.
As for my income as it shows in the SS website. The first three years currently listed were my summer jobs in high school and college. I made less than $5K in each of those three years. By 2020 those will drop off completely, and will be replaced by what I earn now (or more if I get raises/promotions in that time).
I'm not making $120K/year (I wish!) but I am earning substantially more than $5K/year!
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