Monday, March 15, 2010

Social Security to start cashing Uncle Sam's IOUs - Yahoo! News

Social Security to start cashing Uncle Sam's IOUs - Yahoo! News

To many this type of headline comes as a terrible shock and leads them to scramble in panic. To others this is news we have known for almost 20 years. The facts are real. The timing of the headlines has more to do with political agenda than what the media would like to classify as "breaking news".

The ultimate decline of the social security system has more to do with the baby boomers now coming of age than any specific actions taken by the Whitehouse administration. Policies do have an impact, not on the outcome, but more on the acceleration of the process. The Bush Administration used some of the funds for the war efforts, the Obama Administration is also facing challenges to hold up what would have been a collapsing financial system. There are many in the media and in political positions who would now use the situation to point fingers, place blame, and quote figures to back up their position. One of my previous bosses frequently said "Figures don't lie, but liars can figure". This is the strategy of politicians on both sides of the aisle. They know it's going to happen but they are more concerned about not getting the blame than being honest with the American people. And, if they can spin the situation to get more votes than so much the better.

Now, getting off my soapbox, we will consider what we need to do as the American people. We need to get In The Trenches. Like when the warning of a volcano is coming the sirens will get louder and louder. The earlier we begin to prepare the more we will be prepared.

The most important questions can ask themselves concerning Social Security is "If there was going to be no Social Security when I retire how would I change my life now to prepare?"

Would you:
1. Start saving?
2. Pay off debts?
3. Move to an area where you could be more self-sufficient and raise your own food?
4. Move to a smaller home?
5. Break or cut back on some of you expensive habits or hobbies?
6. Start your own family business?
7. Start praying?

The answers to these questions will vary by individual, age, family structure, health, and many additional factors.  What if you were to make adjustments and then find that you social security check kept coming in?  Wouldn't it be the same as taking an umbrella and it didn't rain?  You could enjoy the sunshine.

This is not the time to panic. It's time to get In The Trenches.

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