Social Security was established in 1935, due to so many elderly people going hungry during the Great Depression. President Roosevelt felt people were losing hope. The Welfare Department was established and Social Security began. In the past, FICA tax paid into the...
As you can well imagine, the idea of “retirement” did not exist in Roman times, nor medieval times, and certainly not when Pilgrims discovered America. What about during the days of Lewis & Clark? Or when the wild West was being settled? History teaches...
According to the Social Security Administration, 41 percent of all workers are required to retire earlier than planned due to a personal health problem — that’s four out of every 10 Americans. And the National Council on Aging has stated that about 91...
Here are the U.S. statistics on how workers plan for retirement: 3% don’t have any idea 47% do their own calculations or use a financial adviser 50% just guess To help you avoid guessing, I offer two different ways to approach how to calculate retirement needs...
Answer to this big question: Since you pay 7.15% of your income to FICA, you have a right to receive what you pay for, right? So will the money be there when you need it? My answer is a well-educated guess: You will get some benefit, but not even close to what is...
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