TVM and retirement plans

TVM and retirement plans - TVM...

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TVM Social Security, 401k’s, and pension  retirement plans
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How does social security work?  pay 6.2% of your wages up to about (108k) must pay in for 40 quarters (10 years) to be eligible for full  benefits A person can start collecting at 3 different ages for varying  amounts of benefits Ex 62 get 80%, 67 get 90%, 72 get 100%
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Background Started in 1937 For every 1 person who was drawing on the system 55 paid in Today about 1 to 17 In 2009- collected 807.5B and paid out 685.8B Still a surplus (good) but the gap is narrowing Only 11 years has there been a shortage since social security was  founded Predicted to go in the red in 2018 and stay there!!!
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Insolvency!!-can’t pay full benefits Many economist predict this in 2037 (will impact you!!)   Publicly stating about 70% right now Ex you are entitled to 2k/month however you will only get 2k x .7 = 
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TVM and retirement plans - TVM...

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