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Financial Planning / Social Security Reform

URL:  http://boards.fool.com/the-social-security-quottrust-fundquot-is-a-28394352.aspx

Subject:  Re: Dead topic Date:  3/24/2010  11:34 PM
Author:  Donna405 Number:  5231 of 5267

The Social Security "Trust Fund" is a hoax. Unfortunately, the SS funds are not there. They have been borrowed by the US Government and in its place are IOU's. Now, the Government must pay up.

This is going to be very interesting in the next few years. Fortunately, I am "grandfathered", but I worry about all those baby-boomers who were born in the 60's. It appears to me that SS will have to extend the full retirement to 70, and lower benefits. In addition, tax MUST be increased.

Donna (who hopes to still be working on a part-time basis through her S-Corp even when I am 70, and whose father continued working on a part-time basis until he was 85.) As a note, he did not need the money, but LOVED working.
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