Hi all, Gloria Darni here!
So I had a real eye opener this weekend, not one of those happy occasions at all. My Aunt Val, my father’s last remaining sibling passed away. Aunt Val was 102 and crossed into the light in her sleep peacefully, I thank God for that! She lived a full life, was loved by many and still had all her faculties about her.
But this did get me thinking, am I prepared to live to be 102?
The answer was a blistering NO!
The serious fact of the matter was that Social Security (if it is still even there) would never be enough! They reduce your payments to 80% after a certain amount of time, I guess when they feel you should get on with it and go already. But many of us do not, so what will you do?
There were many reasons that I decided to work online for myself, these thoughts just made that decision even clearer for me. If we do not take control of our plans for Old Age, No one else will!
Let’s Face Some Facts, no matter how good we feel right now, there will come a day when our bodies say enough of this crap! They were out and ache in many different ways. Our bodies are just not made to keep working until 102!
So how will we maintain a reasonable life style if you are under prepared as many people are not?
So I quickly decided to take control of my life and rapidly typed into the search engine Social Security which lead me to this link https://secure.ssa.gov/RIL/SiView.do which is the page to Log in or create an account.
So off I went to to create an account and see exactly what my future held for me.
The process was pretty painless, your personal information such as address, Social Security number, Birth date and so on, proceeded by a series of security questions for your protection. Once account is created simply log in and see what all your years of hard work has gotten you for “The Best Years OF Your Life”
Total dismay is what I felt, How could that be all it was???? What had gone wrong?
Social Security’s looming shortfall
Despite the rumors we all may have heard, Social Security is not going broke. It is, however, facing an $11 trillion shortfall in the coming years. Because more people are expected to leave the workforce than enter it, incoming tax revenues won’t be enough to keep up with scheduled benefits. Rather, the agency will need to draw from its trust funds to continue making payments.
Here are three of the week’s top pieces of financial advice, gathered from around the web:
Avoiding Social Security surprises
Not minding the details of Social Security could mean “leaving money on the table,” said Kelli B. Grant at CNBC. Many divorced retirees, for instance, are unaware that they’re able to draw money based on their ex-spouse’s work record, provided the marriage lasted at least 10 years. If you didn’t remarry, “you may be able to collect an amount equivalent to half of what your ex is eligible to receive.” Where you retire also matters. Thirty-six states, plus Washington, D.C., don’t tax Social Security benefits at all. And “even if your retirement is years away, it’s a good idea to periodically check in on your Social Security benefits.” An unnoticed error in your earnings record “could cost you thousands of dollars in retirement.”
Watch the calendar for big purchases
“To every car, appliance, or home, there is a season,” said Kaitlin Pitsker at Kiplinger. Shoppers can score substantial savings simply by waiting for the right time of year to purchase big-ticket items. Fall is the most opportune time to shop for a new car. That’s when auto dealers are looking to make space for next year’s vehicles, “so you’re likely to find generous discounts, cash rebates, and extra-low-interest financing on the outgoing models.” The same goes for dishwashers, dryers, and other major appliances. You can often find discounts of 20 percent or more on older models in September and October. Home-buyers should hit the pavement in February. The median price of a home is 6 percent less then compared with the rest of the year.
Don’t miss the perks of seniority
“For coupon-cutters of a certain age who have nothing against technology, the world can easily become a less expensive place,” said Tammy La Gorce at The New York Times. An entire genre of apps and websites exists to track the surprising variety of senior discounts on offer, even for people who are in their 50s. The website Senior List includes dozens of restaurants with discounts of 10 percent or more, including Applebee’s, Ben & Jerry’s, Burger King, and Chili’s. Retired Brains lists categories such as apparel, groceries, travel, and entertainment. “Who knew that Baby Boomers and others over 62 could get 10 percent off clothing at Banana Republic and 5 percent off at Greyhound?” Sciddy, an app that has identified some 260,000 senior discounts, even uses GPS technology to send users an alert when they’ve walked into a business offering a discount.
Are we doing enough saving in the United States?
A survey of the last of the Baby Boomers reveals many of those aged 55-plus know their financial plans for retirement are inadequate, yet feel they are powerless to change their fate.
As many as 78 per cent are financially unprepared for their retirement with four in 10 of this ‘lost generation’ admitting their hopes for a financially secure old age have faded.
To help you plan for retirement, the Social Security website includes:
- an online Social Security Statement, which gives you an estimate of the monthly benefit amounts you and your family may qualify for now and in the future
- a Retirement Estimator that lets you get a retirement benefit estimate based on current law and real time access to your earnings record.
Facing these facts are a difficult, but necessary eye opener!
These facts just cemented my decision to start my own online business to secure myself, just in case the longevity gene was passed to myself or my daughter and Grandchildren! By starting now I will not be suffering from lack of revenue at a time when my body will no longer allow me to do the type of work that I have loved for long!
At this point in my life I am having these types of awaking moments daily about my aging process. I also was not prepared for many health decision situations as well. My need to not be a burden on my family in my golden years is very high on my priority list, so I also decided it was time to get my affairs in order. But the cost this could be astronomical. Then I did find a company that could help me with all of my legal document issue’s and the beauty of it was I could get some done for free with some help! If you think you are in the same situation please read more about preparing your legal destiny here!
Bye the way, for those who aren’t familiar with me it’s Gloria Darni again!
While learning to run an online business I have realized that we all hit the same walls at one point or another! I have been learning steadily for over 10 years and feel that I learn something new everyday!
My excitement for working online has lead me down many different roads, some bumpier than others. All of these experiences lead me to Wealthy Affiliate, where I know live my passion while I learn and then earn! For my examination of Wealthy Affiliate, here is my review for you get the information you need!
For more information about creating a Free website with step by step instructions, please follow this link 4 STEPS TO CREATING AN ONLINE BUSINESS!
Great Success awaits you, thanks for stopping by my blog!