Is Your Social Security Really Secure?

18 Mar

Is Your Social Security Really Secure?

Posted by: Ken Himmler

If you are of retirement age, you are no doubt concerned about the stability of your social security benefits. For a lot of people, their investments only provide a portion of their income and they have to rely on Social Security to help pay their bills. Kelly Greene of the Wall Street Journal written an article about how she thinks the present economy is going to affect Social Security in the next few years.

According to the Congressional Budget Office, Social Security benefits are not likely to increase for the year 2010. This announcement has caused many retirees to worry about their personal financial security for the oncoming years. Many are wondering if the state of the economy could cause retirees to lose some of their precious benefits that they rely on to pay their bills.

Worried retirees can rest easy tonight, because Ms. Greene cited a statement by Mark Lassiter, a Social Security spokesman in Baltimore, who states that even if there is economic deflation, Social Security benefits will not be cut for the year 2010. This is good news.

On the other hand, this is a prime example of why investing for retirement is so necessary for the future. In the best-case scenario, a retiree is able to spend their golden years living off of their retirement savings and investments without having to fuss with the worries that accompany Social Security. It is ever so important, especially in this era of economic instability, that people take control of their financial lives and make wise investments for the future. Do some research, become familiar with the common investment terms used in the markets.

I have said it before, it is YOUR money. Let it work for you and you will be free of the worries that plague so many today.

Tags: economy, Investment for Retirement, Social Security

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