If your idea of retirement planning is that you are paying into social security and the government is going to send you a nice check each month after you reach 65, then you are going to have some rough years ahead of you. The fact that you have been paying into the social security fund all of your adult working life is not being disputed, the fact being disputed is whether or not you are going to actually be able to live off of the amount the government will be sending you each month.
It seems like you have paid in a great deal of money because you see money taken out of every check you receive. So realistically you are thinking that you should have quite a nest egg piled up. The problem is that the government is in control of that nest egg and they are going to dole the money out to you like a child receiving their weekly allowance from a parent. They are also going to charge you for some of those Medicare things that you may think are free.
Yes you have also paid into Medicare all of your life so that medically you will be covered when you retire, but you will not be totally covered unless you purchase an additional plan after you retire. So more of the allowance the government is going to pass out each month will be put back into the pockets of the government instead of in your pockets.
You really need to do some research on the retirement plan options available for you to invest in. These options will not stop you from getting that little check from the government each month, they will just add to the amount you will have to spend when you retire so you do not have to just depend on that government issued check.
It is always better to be safe than to be sorry, so instead of placing all of your eggs in one basket, spread them out among several baskets that you can collect from when the time is right. You are in control right now, and you need to remain in control of your financial future.
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