IS SOCIAL SECURITY ENOUGH FOR RETIREMENT?
Most people don’t think a lot about their retirement plans and just contribute to social security! But is social security enough for retirement? Find out how you can make safe and solid retirement plans!
Today I’ll answer your question, “Is social security enough for retirement?”
I’m Ted Thomas, and I’ve been investing in alternative real estate for the past 30 years. Along the way, I’ve met a lot of individuals who haven’t thought about funding their retirement program.
Many of these hard-working people have enjoyed high-paying jobs, however, they spend all they earn. Now they are worried.
Is a pension and Social Security enough for retirement? Many of these people have pension plans. Unfortunately, until now, a lot of them have not totaled the benefits of their program, and they’re suddenly discovering they are not going to have enough money to continue their lifestyle.
They have no idea of the benefits they will or will not receive, and they have taken retirement as something they will do later.
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IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – BABY BOOMERS
Is social security enough for retirement? Currently, social security is struggling under a huge overload of baby boomers. Daily over 10,000 new baby boomers qualify for social security.
Only a few decades ago, the social security system was collecting revenue from 16 worker contributions for each recipient of social security benefits. The point is there were 16 contributors to each beneficiary.
According to the social security administration, in the year 2037, only 2 workers will be contributing to each beneficiary.
Times have changed. Social security now pays out benefits to approximately 60 million beneficiaries across the United States.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – THE FUTURE
Eighty years ago, what qualified beneficiaries was considerably less than today. The Social security administration estimates 83 million will be receiving benefits by 2037.
Everyone should start thinking about the changes that will be needed in the next 20 years. The politicians are putting their heads in the sand. No one wants to discuss the needed changes. However, after 2037 they will have no choice.
While social security is not going broke, it certainly won’t be the same in the future.
The government is not going to just walk away from the current 60 million dependents collecting benefits.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – MORE BENEFICIARIES, FEWER CONTRIBUTORS
Your common sense tells you more people means more entitlements, more outflow of revenue. The problem is people are not having babies like they did years ago, and those collecting benefits continue to live longer and longer.
The costs are going up, up, up, and we have fewer and fewer contributors.
People live longer. Maybe social security will change the retirement benefits and start benefits at 70 instead of the current 67.
Of course, congress could lower the amount of social security payments to each beneficiary, but that’s going to be a problem for the politicians.
My point is I don’t know what’s going to happen, but I can assure you there will be changes.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? NO!
Today I’m answering your question, “Is social security enough for retirement?” My response is no.
It’s not enough for retirement. However, as soon as I say that, someone will make a strong argument that they live in one room on the back of a house, and they don’t use electrical power or drive a car and the check is adequate.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – SUPPLEMENTING SOCIAL SECURITY
A more correct answer is that you need to supplement social security earnings.
The system was designed to keep ordinary people from falling below the official poverty level in their latter years. Most of the citizens know or consider themselves to be average or better.
We will need food, utilities, shelter, transportation and many other necessities. So is social security enough for retirement? No, social security will not handle everything.
If you haven’t noticed, many seniors are now bagging groceries at the local Safeway or Kroger. The high school kids now have competitors.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – 75% OF YOUR INCOME
The question I suggest people ask is can you live your life with anything less than 75% of your current monthly income. Most will conclude that they cannot live on less than 75% of what they currently earn.
Social security is not going to give you 75% to cover your needs.
Savings accounts are paying low interest rates 1% and less. It’s time to adjust your expectations and revise your goals and find new income. I think what I have to say next may be interesting.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – A SOLUTION!
Thirty years ago, I discovered a little-known but highly lucrative system that the government created 200-years ago. This system has been around for a long time, and it certainly will be around in the future.
It’s good in good economies, and it’s great in bad economies. How does it work?
State governments have trouble collecting property taxes on real estate. I’m talking about single family homes, farms, agricultural property, and office buildings, etc. To solve the problem, the state legislature created laws, enacted statutes.
It’s all pretty simple. Pay your property taxes, or the local county board of commissioners or board of supervisors will take action, and the county treasurer will seize your property. They will confiscate your property for nonpayment of taxes.
After the seizure, the county will sell the property at a public auction. The starting bid at the auction will be the delinquent back taxes.
This process occurs in over 3,000 counties across the United States
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IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – TAX DEFAULTED PROPERTY
County governments auction tax defaulted property for bargain prices, 5 cents, 10 cents, 20 cents on the dollar, and the treasurer is authorized to cancel the mortgage or the trust deed loan at the official county records.
What does all this mean? Thousands of tax defaulted properties are sold at auction for pennies. Discounts of 60%, 70%, or 80% are not unusual.
You don’t know about this because brokers, bankers and attorneys aren’t telling you. The investment business works on commissions. No one tells you because they don’t earn a fee or commission for telling you. Yet, this business of county tax defaulted auctions has been in effect and mandated by every state in the Union for hundreds of years.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – BARGAIN REAL ESTATE
I have students that earn $25,000, even $50,000, purchasing and reselling bargain properties.
Every auction of defaulted property is a public auction. Every county in America is authorized to confiscate and resell defaulted real estate to the highest bidder.
Need extra money? Here’s a solution. I discovered this honorable and ethical business 30 years ago, and I have never looked back. It’s amazing.
You are worried about your future. Looks to me like the social security administration is not going to save you. What you need is more income.
You have a choice. You can be a deer in the headlights and wait for the impact. Or you can do what America does in crises, adapt and change.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – A SIMPLE SYSTEM
Here is a simple system that will work for you. It currently works very well for my students. They invest small increments of cash, and that generates high income when accumulated as installment sales.
It doesn’t cost you anything to open your mind. I’ll give you a few ideas and then you can investigate for yourself.
The local county, all 3000 of them, will auction tax defaulted real estate. Some will be used and abused, some will be junk. Others will be resellable and require minor repairs.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – A BUSINESS OF ABUNDANCE
Understand, this is a nationwide business. There will be an abundance of properties available. We can teach you to access every one of them from your kitchen table with a computer.
My students buy these properties for pennies on the dollar and resell for big profits. Many times, we use installment sales, and just like all the banks, we make big money on the installment payments.
IS SOCIAL SECURITY ENOUGH FOR RETIREMENT? – EXAMPLES
For example, B.R. in Georgia buys at auction and rents the property in the first year. He earns all of his investment and then some. That simply means for the rest of the time he owns the property, he’ll make profit every month.
Here’s another example. Two hard-working people from Wisconsin purchase a home valued at $55,000 for only $8,000. That’s less than 20 cents on the dollar. They cleaned it up then had a total amount invested of $12,000.
They sold the property to an eager buyer, and they’ll collect monthly payments for the next 10 years. After getting all their money back, they will have earned a profit of $40,000.
This is not unusual. Auctions are taking place every day.
Money in the bank is going to pay you approximately 1% annually. These people are making thousands and not worrying about social security.
We hope you enjoyed Ted’s lesson, “Is Social Security Enough for Retirement?”
Is social security enough to live on? The answer is, sadly, no, not if you want to retain your current standard of living.
If you want to continue enjoying your current lifestyle in your retirement years, then you need to supplement your social security income. One way to do that is with a pension plan, but even that may not be enough.
An excellent way to supplement your social security, and even raise your standard of living higher than you ever dreamed is via tax defaulted property investing.
At a tax sale, you can pick up properties at amazing bargains of 10, 20, or 30 cents on the dollar and get them without a mortgage. With profit margins like that, you can quickly resell the properties for fast cash flow or sell them on an installment plan to create steady income streams.
Tax defaulted property auctions occur in counties all over the United States with the starting bid around around the amount of the back property taxes owed. Most of these auctions are online, so this is a business you can do from home, and you can do it part-time.
If you’d like to learn more about investing in tax delinquent property, there’s no one more qualified to teach you than Ted Thomas, America’s leading authority on tax lien certificates and tax defaulted property investing.
Ted Thomas is the only one who provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops & web classes, and personal one-on-one coaching.
Get started today at no cost with Ted’s FREE Master Class, that reveals the incredible opportunities available in tax defaulted real estate. The class is only about 1 hour of streaming video and contains life-changing information! You can’t afford to miss it!