No Social Security when I am 62 years old.
Standing on lines for Food
INTERVIEW WITH SOCIAL SECURITY OFFICER TO SHED LIGHT ON COLLECTING REITIREMENT INCOME TO SURVIVE.
Consider the Average Social Security Payment
The average Social Security benefit was $1,503 per month in January 2020. The maximum possible Social Security benefit for someone who retires at full retirement age is $3,011 in 2020. However, a worker would need to earn the maximum taxable amount, currently $137,700 for 2020, over a 35-year career to get this Social Security payment.
SO IF YOU NEVER WORKED OR HARDLY EVER WORKED YOU MAY GET PRATICALLY NOTHING AT 62 YEARS OF AGE.
YOU ALSO MAY HAVE TO PAY YOUR MEDICARE PAYMENTS YOURSELF IF YOU NEVER WORKED.
GROWING NUMBER OF HOMELESS PEOPLE TODAY IS ALARMING.
BUT IT MAY BE TWICE AS BAD IN 20 -25 YEARS HERE IN NEW YORK. REASON IS MANY YOUNG FOLKS IN THEIR 20'S,30'S AND 40'S TODAY DO NOT HAVE A JOB. THEY DEPEND SOLEY ON PARENTS OR WIFE/GIRLFRIEND TO GET BY.
But their is a light at the end of the Tunnel.
Welfare, Food stamps, Section 8 apartments, Shelters, etc..
And the siblings who's parents own homes now, will be clawing and fighting with each other to sell that home and quickly too.
Even a home with no mortgage has expenses needed to continue owning this Home. (TAXES, WATER, HEAT, INSURANCE, ELECTRIC, AND MAINTENANCE REPAIRS) This may come to $3,000 dollars monthly.
So if siblings are not working then they can't continue to pay the upkeep monies needed to stay and live in the house.
So if they are forced to sell, they come into a windfall of money.
Then comes potential Divorces, child support, alimony payments, etc.
The amount of money from the sale of a home will be gone in less than 7 years with all the new expenses that arise.
FACT: ONE HUNDRED YEARS AGO WHEN OUR GRANDPARENTS CAME TO AMERICA, THE FIRST THING THEY LOOKED FOR WAS WORK (JOB).
TODAY MANY YOUNG PEOPLE DO EVERYTHING POSSIBLE NOT TO WORK AND BE INDEPENDANT OF OTHERS.
CONCLUSION-JUST LIKE WE ALL DIE ONE DAY, THOSE WHO LIVED A LIFE WITHOUT A STEADY JOB MUST FACE AND DEAL WITH THE NIGHTMARE THAT WILL BE LONG OVERDUE AND THEY WILL COMPLAIN TILL THEIR DYING DAY.
John Fortunato-Senior Executive