This morning I read a report on new Social Security Statistics.  The Department of Labor and the Social Security Trust Administration released figures that show that there are now only 1.75 people working full time for each person receiving Social Security

This is from Nilus Mattive at Weiss Research:

Fact #1. As recently as 2009, the Social Security Administration was predicting that the program would begin taking in less than it paid out in 2017.

Fact #2. Then, just one year later in 2010, the Social Security program took in less money than it paid out. (The first time since the 1980s.)

Fact #3. This annual shortfall was blamed on the poor economy — i.e. fewer employed people paying in and others choosing to retire early, thus increasing the amount of money being paid in benefits.

Fact #4. At the time, the Social Security Administration said it would only be a temporary slip and that a permanent state of deficits would actually begin in 2016. (Note revision from previous estimate.)

Fact #5. In 2011, the Congressional Budget Office came out and said that the Social Security program had already entered a permanent state of annual deficits. (Woops again.)

Source – Link to full story:  http://www.moneyandmarkets.com at Money and Markets

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The politicians keep telling us that people on social security don’t have to worry that coming reforms will only affect the young.  But with facts like these I am not so sure.

Related posts:

1. Will Social Security Last Through Your Retirement? Will Your Benefits be Reduced?
2. Are Social Security & Medicare Cuts on The Table?
3. What to do if Social Security Doesn't Last Through Your Retirement

According to Comscore Amazon is now the number one shopping destination on the web with over 20-million visitors a month.  eBay is a distant second with 15-million. If you are not selling on Amazon you are missing a huge market.  But Amazon works differently than eBay and some training is in order. The Proven Amazon Course is your ticket to that training –and the price has just been reduced by $100.

This is a very temporary price cut.

The Proven Amazon Course has easily been our most successful training course to date.  Its called the “proven” course because it really works.  And, it comes with a money back guarantee if you are not satisfied for any reason.

Why is Amazon FBA the Perfect Online Business Opportunity for Seniors?

The trouble with a normal online business whether it be selling on eBay, or from a website or from Amazon is all the hassle of packing and shipping.  Well Amazon FBA fixes that. FBA stands for Fulfillment By Amazon. With FBA you send your merchandise to Amazon.  Amazon sells it for you, collects the money and ships it for you.  Then they send you a check.

I recently attended the annual Amazon sellers conference in Seattle and I have to tell you that about 35% of the sellers who were there were fellow seniors.  One fellow was 72 and in a wheelchair.  He has a $10,000 a month Amazon business using FBA.

Here are some great reasons to learn how to sell on Amazon:

o  Mashable.com recently reported that one in five people were on Amazon.com in the month of June 2011. Amazon is the MOST shopped website ever.

o  You can send virtually ANY item with a barcode on it to Amazon and they’ll list, sell and ship it for you…and send you a check every two weeks. You can even put barcodes on your own stuff and send it to them.

o  You can visit the “discount” aisle (or closeout section of a website) of virtually any chain store (Wal-mart, Target, Big Lots, Meijer, Toys-R-Us etc.)  and find profitable (200-300% is easy) inventory. Box it all up in one box, and send it to Amazon. They do the rest.
For example:  Just last week I found Rachel Ray Cooler Totes at Costco for $11.95 each.  No one had them on Amazon.  I bought a dozen and sold all of them for $39 each.  I also found Cars2 Sticker sets for kids for $9.90 at Costco and am getting $24.95 for them on Amazon –and Amazon is doing all the work.

Why is our training so good?

o  We include videos, eBooks to read and tons of step by step screenshots to show you how it all works.  And there is a forum where you can get help from experts:  A handful of world class experts monitor the forum to assist students as they build an Amazon biz and make it as hands free as possible.

These incredible experts are people like Chris Green, Bob Willey, Suzanne Wells, Skip McGrath (me), Julie Anna Schultz, Nathan Holmquist, Steve Lindhorst, JB Malik, and Stephanie Inge.  These are THE Amazon selling POWER PLAYERS and they are hanging out with hundreds of excited Amazon sellers on the discussion forums of the  Proven Amazon Course.

o  The training we’ve put together is by far the best you’ll find on the subject and has been endorsed and promoted by nearly EVERY major expert in the Amazon selling arena.

Proven Amazon Course

This highly discounted price will not last long. So don’t wait.

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We also have a UK Version of the Proven Amazon Course.  Click here for the UK Version

Related posts:

1. Amazon May be The Perfect Place for Retired Folks to Make Extra Money
2. Can ScanLister Help Seniors Make Money Selling Used Books?
3. Are You Still Waiting To Start Your Internet Business From Home?

Big Lie Number 1:  If we don’t pass the debt ceiling we will go into default

Default has nothing to do with the debt ceiling.  The government would only default if they could not make interest payments on our debt in the form of treasury bonds and bills.  Here is the math:

• The government spends about $295 billion per month
• The government takes in approximately $200 Billion in taxes every month
• This leaves a monthly deficit of $95 billion per month
• Interest payment on the debt is about $20 billion per moth
• Social Security runs another $50 Billion per month and Medicare about $55 Billion
• So far we are up to $125 Billion – and we still have $75 billion to work with.
• Defense spending is about $50 –but could be cut by $10 if we only paid for the essentials
• Then what is left would have to run the rest of the government.

So there is no default unless we decide not to pay the $20 billion per month on interest. If a politician says you won’t get your social security check he (or she) is lying. There is plenty of money to pay social security.  Of course if the president though it was more important to pay for the EPA, Agricultural subsidies to farmers, The National Endowment for the Arts or National Public Radio –then he could make the choice to do that instead of sending us our social security checks.  But if he did that I suspect seniors would march on Washington by the millions.

Yes, a lot of programs would be cut, employees furloughed and probably the parks and museums would close.  But interest on the debt would be paid, social security checks would go out, soldiers and sailors would be paid, doctors would be paid by Medicare and the country would probably run just fine.  So forget about default. Stress and inconvenience – yes. Default – No.

Big Lie Number 2:  Both parties are coming up with plans to cut spending

This is an even bigger lie.  Both parties claim to have plans to cut the deficit to offset the increase in the debt ceiling. That is total bull!  When you look at both party’s plans there are no real cuts in spending –they are only cuts in the estimate of how much the deficit will grow. Currently the government projects the deficit will grow about $10 Trillion over the next ten years (that estimate is on the low side as some economists predict it will grow over $15 Trillion).

But when President Obama, Harry Reid or John Baynor speak about cuts they are talking about letting the deficit grow less.  So if a $2 Trillion cut is announced as part of a deal, that meant the deficit will only grow to $8 Trillion instead of $10 Trillion.  That is Washington’s idea of a cut.

Where are the real cuts?  Between the last two censuses (2000 – 2010) the population of the United States grew slightly less than 7%. During that same period the number of US Government employees grew 19% and state government employment was up over 16%.  So, bottom line, the government is growing much faster than the population.

Big Lie Number 3:  If we raise taxes on oil companies, corporate jet owners and millionaires it will balance the budget.

This one is really cute.  Lets take them one at a time:

• Oil companies – When the Politicians talk about special breaks for oil companies they are speaking about the “depletion allowance.”  This is a tax break to compensate the oil companies since they are losing their reserves as they pump. The allowance was put in place to give them an incentive to explore and drill new well to replace the oil that is depleted.  If that deduction were taken away from the oil companies the total taxes collected over the next ten years would amount to about $40 billion.  That’s over ten years.  But our deficit just this year is over $1 Trillion.
• Corporate jets – A few years ago when we were trying to recover from the recession that hit after 9/11, the congress passed and the president signed a bill that allowed corporate jet owners to accelerate their depreciation deduction.  The reason for this was the corporate jet industry was in the toilet and unemployment in that industry was running over 25%.

  The deductions worked.  The corporate jet industry is now healthy and currently employs over 700,000 people between the manufacturers, sales, maintenance, fixed base operators, pilots and so on.  So here we are in the middle of a recession and the president wants to raise a tax that will put people in the industry out of work.  He wants to stick it to millionaires jet owners but in the process he will hit factory workers, pilots, food service, sales people and maintenance personnel.  And worse – the total taxes saved will amount to less than $9 Billion over the next ten years.

• Millionaires – The president keeps mentioning millionaires and billionaires paying more taxes.  Well taxes are taken from income –not wealth.  Most true millionaires and certainly billionaires actually make very little money from earned income.  The number of people who make over $1 million in income in a given year is less than ten thousand.

  You could raise the tax rate to 90% on all of those people and you would only take in an additional $10 to $12 billion a year.  Besides, these are the people who invest in companies, create jobs and buy things that employ people.  So with a recession on, lets hit them where it hurts – Right!

  Remember the annual deficit for just this year is over $1 Trillion. If you add all three of these tax increases up, you get $25 billion is increased revenue. Even if you taxed everyone who made over $200,000 a year at 90% you would only bring in another $60 to $70 billion.

So now you know what is going on.  It doesn’t matter if you are a Independent, a Democrat or a Republican we are all being lied to by both parties.  The one thing Washington won’t do is actually cut actual spending.

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Seniors – supplement your retirement income with an easy in-home business anyone can start.  How To Make Money Buying and Selling Gold shows you the easy steps to make up to $1000 week working very part time.

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Related posts:

1. Washington Is Lying To Us About Inflation
2. Are Social Security & Medicare Cuts on The Table?
3. The Real State of The Union

I can’t remember who did it, but one of those Washington think tanks did a study where they calculated that you could raise the tax rate to 90% on every single American –rich, poor and middle class, and you would still not have enough money coming in to pay for all of the entitlement spending at current and projected levels.  So yes.  Social Security and Medicare too will have to be cut.  And the cuts will have to be deep.

Here is what the cuts will probably look like.  They will consist of some or all of these steps. (Note: I am not suggesting we should do these things –just saying this is what the folks in Washington are considering).

Social Security Cuts

• Raise the retirement age to 68 now and later to 70.
• Eliminate early retirement at age 62
• Adjust inflation indexing downward
• Extend the tax rules on retirees earning over $14,000 a year to age 70. (Each $2.00 of income you make over $14,000 a year, reduces your payment by $1.00).
• Some type of means test based on total retirement income from all sources (dividends, other retirement plans, military retirement and withdrawals from IRAs and 401Ks.  Those with a total retirement income over a certain level (the betting is $30,000) would receive a reduced payout.

Medicare Cuts

• The Justice Department will set up a special Medicare/Medicaid fraud unit with a goal to reduce fraud by $100 billion per year  (about 1/3rd of the current estimated fraud).
• The Government will hire an outside auditing firm to audit Medicare claims to prevent fraud and general misuse.
• A deductible system will be introduced based on retirees total income from all sources.  Those whose only income is SSI would be left alone. Those whom have additional sources of income would have to pay a deductible and perhaps even co-pays based on the size of their income.
• Institute medical review panels to limit care to end of life situations
• Allow Medicare to negotiate rates with drug companies and medical supply companies as is now done by the Veterans Administration.  This one step alone will save $70 Billion/year.

All of these steps combined could reduce SSI and Medicare payments by about $500 Billion per year by 2015.  That will still leave a shortfall, but it will be more manageable and could be covered by a combination of economic growth and increased taxes.

I would love to hear your comments.  How would you fix the problem of a $5 Trillion shortfall over the next 15 years?  Please use the comment form below.

Note – All comments have to be approved so they will not show up instantly. I only kill comments that are either spam or contain objectionable material so feel free to vent –but I would really like to hear some positive ideas.

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Need extra income. This is the perfect business for seniors – Make Money Buying and Selling Gold

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Related posts:

1. Will Social Security Last Through Your Retirement? Will Your Benefits be Reduced?
2. Four Reasons Social Security Is Completely Flawed
3. What to do if Social Security Doesn't Last Through Your Retirement

Dead ahead: State and city pension FAILURES!

Nilus Mattive

Last week The New York Times dropped a bombshell, reporting that “policy makers are working behind the scenes to let states declare bankruptcy and get out from under crushing debts, including the pensions they have promised to retired public workers.”

This is truly huge news, with far-reaching consequences. But it shouldn’t come as a surprise if you’ve been reading my columns …

Back in July, I explained how state pension funds around the country had essentially blown their fiduciary responsibilities to retirees and their broader constituencies.

Specifically, I wrote:

“They have been consistently underestimating how much money they’ll need down the line. In essence they are pretending that inflation doesn’t exist …

“Second, despite the major losses they actually experienced in their portfolios, they are acting as if those losses haven’t completely happened yet. Instead, they are basically just figuring that things will turn around if they wait long enough …

“And interestingly enough, when these same investors were winning big a few years ago, they put off contributing more of their current earnings into their accounts … essentially letting their profits carry the day, or even borrowing money from their accounts!

“Even today, with their balances way off what they should be, they are failing to contribute to their accounts. Some are even playing ‘shell games,’ by moving money around to make it look like they’re in better shape than they really are.

Then, this past September, I discussed some of the specific state pension plans at risk of imminent failure, along with arguments and steps legislators were employing to wiggle out of past promises.

Now, you’ll get no argument from me that many employee organizations expected — nay, demanded — far too much every time they went to the negotiating table. Yet I still place most of the blame for this impending crisis on career politicians.

Like coddling parents who never say “no” to their children, they were willing to promise anything to get elected and then to stay in office …

They were happy to ignore budgets and dole out money that wasn’t even in the kitty yet …

And they stubbornly put off pending problems, acting as if the piper would never show up asking for payment.

From capitol to capitol, it was just one big game of musical chairs. Now the needle has careened off the record with one last deafening screech.

Worse, the States Are Just One Facet of

This Massive National Pension Crisis!

Similar pension problems are emerging among U.S. cities, too — where local governments can already declare bankruptcy and, in some cases, hang pensioners out to dry.

And even in places where constitutions currently protect pensions, mounting problems at the state level may ultimately unravel — or at least sharply impact — retirement benefits at the local level.

Just take a look at the latest headlines and you’ll see just how widespread the problems are …

In New York City, pension costs have more than quadrupled in the past decade, from $1.5 billion in 2001 to $7 billion this year! That’s why Mayor Bloomberg recently echoed Governor Cuomo’s state-level battle to rein in pension costs, threatening huge layoffs unless unions accept drastic retirement reforms.

Meanwhile, in Cincinnati, lawmakers currently owe retirees about $1 billion more than they have socked away. And as this story explains, it’s a real mess.

Just some of the highlights:

* “[There are] policies that allow some workers to retire with pensions of up to 90 percent of their three highest years’ salary, guaranteed 3 percent annual increases, lifetime health coverage at negligible cost and other benefits far beyond those found in most private and public retirement plans.”

* “From 2000 to 2009, investment earnings failed in half of the years to meet an 8 percent [return] goal.”

* To solve the problems, “trustees are considering proposals to raise retirement ages, lower annual cost-of-living adjustments, shift a greater share of health costs to retirees and alter pension calculation formulas.”

Look, we’ve already seen this movie with corporate pension problems over the last decade. Countless plans failed … countless more were shuttered for current employees … and a whole mess of people lost important benefits there were counting on.

Plus, as I’ve noted in the past, the government’s backup insurance plan for these failed private plans is itself underfunded by many billions.

With these same issues appearing in cities and states from one coast to the other, a lot of folks have been asking if Washington will step in.

Well, if that New York Times article is any indication, the answer is yes — Washington may step in to LET state and local governments renege on at least some of the benefits they owe retirees!

It’s not like Uncle Sam really has a choice. In addition to owing private pensioners more than what’s in the kitty, there’s also that pesky issue of massive shortfalls in the Social Security program.

So What Can You Do to Protect Yourself?

It doesn’t matter if you’re a government worker or just a regular citizen … this national pension crisis is going to affect you — directly or indirectly.

It may mean a sharp decrease in your retirement benefits. Or it could reduce the public services available in your city or town. And it will almost definitely lead to higher taxes.

So I suggest you get as much information as you can on the rapidly developing state and local debt crises striking our nation … and learn how to hedge against these problems with new investments that are now available.

In addition, I consider it absolutely critical that build up your own income-generating portfolio as quickly as possible, preferably in tax-sheltered accounts.

I’m helping my own dad do this right now, because we recognize that his state pension is no more guaranteed than anyone else’s.

As the latest headlines demonstrate, past promises to retirees are no longer sacred and benefits are no longer guaranteed. So if you’ve been putting off your personal protection plan, please make it your first priority in 2011.

Best wishes,

Nilus

This investment news is brought to you by Money and Markets. Money and Markets is a free daily investment newsletter from Martin D. Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Dr. Weiss is a leader in the fields of investing, interest rates, financial safety and economic forecasting. To view archives or subscribe, visit http://www.moneyandmarkets.com.

Related posts:

1. The Perils of Tapping a 401(k) Early
2. Will Social Security Last Through Your Retirement? Will Your Benefits be Reduced?
3. Just How Many Taxes Are There?

So here are some of the best sites I found with tips to budget, save money, reduce expensesmake extra money or  raise some fast cash.

Budgeting

Personal Budgeting is a great site that walks you through the right way to set up a budget. Another great site is Always Frugal. It has tips on on frugal living, suggestions on how to save money on groceries, a budget worksheet and more. Ten tips for staying on a budget from How Stuff Works is also very helpful.

Dave Ramsey has a very different view of budgeting that you may want to look at.

Saving Money  & reducing expenses

The Simple Dollar is a great site with 101 money-saving tips.

DoughRoller has 75 Painless ways to save money

ZenHabits offers up 106 Money-Saving Tips for a Frugal Lifestyle

Frugal Dad gives you over 100 money-saving, expense reducing tips from his readers.

Making Extra Money

The MSN Money Blog offers up 52 ways to make extra cash quickly.

Us News Personal  Finance Blog offers 7 ideas to make extra money in your spare time.

The Wisdom Journal covers 26 ways to make extra money while keeping your job.

Related posts:

1. Send Us Your Best Money Making Tips and Win a Free Official Geezer Guide of Your Choice
2. Budgeting Money for Seniors and Those on a Fixed Income
3. Can Seniors Really Make Extra Money With Affiliate Marketing?

Internet Business Resources

Here are some resources to get you started:

• My book, The Official Geezer Guide to Making Money With an Online Business is a great resource. I review 6 different internet business models and show how you can get started and how you make money doing it.
• My latest book at SkipMcGrath.com is How to Make Money Blogging From Home has been a hot seller and is getting great reviews.
• Chris Malta, founder of World Wide Brands has just released a package of three FREE eBooks about starting an online business and about eBay product sourcing and dropshipping. Click here to download your free eBooks – no email or other information required.

These are all great resources and can help you get started. There is no time like the present.

Related posts:

1. Can ScanLister Help Seniors Make Money Selling Used Books?
2. Learn How To Make Money Blogging From Home
3. The Official Geezer Guide Blog is Now Live

In my first book in the Official Geezer Guide series on starting an online business, I wrote about the used book business extensively. Because unlike the current generation, we seniors grew up reading and loving books and we seniors are now the fastest growing online market for all goods and services –but books in particular.

The used book business is a $6 Billion a year business and the online portion of that is now at almost 50% and growing every month.  Used books also do well when the economy is challenged as it is today because people still want to read, but they have to save money when they do it.

Last year I wrote a book on my main website, How To Make Money Selling Used Books on eBay, Amazon and The Internet.  I recently updated the book and added new bonus materials. How To Make Money Selling Used Books….is still one of the best-selling eBooks on the web and may soon surpass the Complete eBay Marketing System as my personal best-selling book of all time. The reason is simple:  It works!  I get tons of email from readers telling me about their successes.  In most cases the email are from people who are using online used book sales to generate extra money –but I also get email from folks who are making substantial amounts of money each month.

One of the markets I covered in How To Make Money Selling Used Books…was eBay’s Half.com, which is a fixed price site where you can sell books, movies and music.  Last week I discovered a great new selling tool called ScanLister.  There are three parts to ScanLister:

1. A small Scanning device that plugs into the USB port on your computer.
2. Scanning software that reads the scanned info and instantly creates a listing (with photo) that you upload to Half.com with the click of a mouse
3. An excellent training manual by a woman that consistently earns over $4000 a month on Half.com. Not all books and products sell well on Half.com, but she knows the ones that do and tells you where and how to find them.

I recommended ScanLister in my monthly newsletter at www.SkipMcGrath.com. Within a few days I Started getting email from my readers thanking me for the recommendation. One, who is a fairly experienced book seller said she was thrilled and thinks that ScanLister will save her hours a day and allow her to make money from a lot of otherwise slow-moving books and tons of DVDs she has sitting around the house.  Another person wrote that ScanLister paid for itself within 5 days.

So if you know nothing about books and would like to learn about this great low-cost, low-risk business, check out my training manual, How To Make Money Selling Used Books Online and once you are set up and running, check out ScanLister.

Related posts:

1. Using Twitter To Make Extra Money From Home
2. Big Bucks Flips on eBay
3. Can Seniors Really Make Extra Money With Affiliate Marketing?

Social Security Situation Worsening; What to Do?
by Nilus Mattive

We got lots of disturbing news from Washington last week. But the latest updates on Social Security and Medicare really got my blood boiling.

It is now estimated that both programs’ trust funds will run out sooner than previously expected. In the case of Medicare, the date is 2017 rather than 2019. For Social Security, it’s 2037 rather than the previous estimate of 2041.

Both programs are suffering because of the recession. The simple explanation is that fewer jobs mean less money getting paid into the systems. That creates a bigger drain on the programs’ current resources.

But it merely highlights the larger issue, one that has been there since the very beginning of Social Security.

The Problems with Pay-As-You-Go …

It’s interesting – and very instructive – to look at the history of the U.S. Social Security system.

The program’s first payment reportedly went to Ernest Ackerman. He retired a day after the program began, and contributed a whopping nickel. His lump sum payout? Seventeen cents. Not a bad return for good ol’, Ernie!

Ernest Ackerman put in one nickel to Social Security, retired a day later, and got back a $0.17 lump sum payment. Need I say more?

Meanwhile, the first person to receive a monthly payment from Social Security was Ida May Fuller. During the late 1930s, she contributed $24.75 into the system. Her initial monthly check was $22.54, so by her second check, she had more than recouped her entire investment!

And get this: She lived to be 100 years old, collecting $22,888.92 out of the system over her lifetime!

Sure, it’s an extreme example. But it demonstrates the real problem with Social Security … the problem that has existed since day one … and the problem that is only worsening as more and more people live to Ida-May-Fuller-like ages …

Social Security’s pay-as-you-go structure means a never-ending game of catch up.

When Social Security was first instituted in 1935, it covered about half of the population. Many teachers, nurses, librarians, and other workers were excluded from coverage. What’s more, the average life expectancy was about 60.

Today, Social Security covers virtually everyone. The average American is living to age 76.

And to accommodate this widening gap of money coming in and money going out, the initial 1937 payroll tax rate of 2 percent (split between employer and employee) has already risen to a combined 15.3 percent (including Medicare taxes).

Yet, I’m sure it will absolutely have to go much higher if the system is to survive!

Reason: Based on the newest projection, Social Security will begin collecting less money than it pays out in 2016.

Odds are also extremely good that the current cap on the amount of a salary that is subject to Social Security taxes ($106,800 in 2009) will have to be raised or completely eliminated.

And all of this begs additional questions …

Will Social Security Benefits Be Reduced? Or At Least Taxed?

Should You Start Taking Payments As Soon As Possible?

I believe Washington’s preferred solution will be getting more money into the system. But I would not completely rule out some tinkering on the payout side, either.

Taxing benefits at the Federal level has been one idea bandied about. That would be a slightly less obvious way of reducing future recipients’ payments.

Continuing to bump up the age at which benefits begin is another, and by the time I retire, I’m sure the age will have increased substantially.

But I would say that if you are near – or already in – retirement, you shouldn’t worry too much about your payments.

In fact, despite Social Security’s problems, I still suggest you consider delaying your benefits as long as possible. Sounds counter intuitive, I know.

After all, the conventional wisdom is to just start collecting as soon as you can. This is both because of the aforementioned problems – i.e. “catch as catch can” – and because it is commonly believed that the system is designed to work out the same no matter when you begin collecting.

But let me explain my logic here …

I think near-term Social Security recipients have little to worry about. Everyone else? I shudder to think …

First, it would be political suicide for anyone in Washington to mess with near-term benefits. Instead, the preference will remain – as it always has – kicking the buck further on down the line. Can it continue this way forever? No. But for longer than it probably should.

Second, there are also logistical problems with changing soon-to-be-retirees’ benefits. After all, the government uses formulas to calculate benefits at age 60 and 62 for each recipient. They are unlikely to retool the entire process overnight.

Third, it’s true that the system is designed to pay out the same in total benefits no matter when you start collecting. But the calculations are obviously based on averages and you are anything but average!

It’s important to look at your individual situation before you just accept the conventional wisdom. Sure, if you need the money to live on then just take it. But if you can delay taking your benefits, it might be worth your while, especially if you have “longevity genes” in your family.

After all, the Social Security Administration will raise your future payments for every month that you delay. Annually, that will amount to an 8 percent increase (plus any cost-of-living adjustments).

So the longer you delay taking benefits, the bigger your monthly benefit.

The math differs for every person, but consider someone who’s age 66 and has the choice of collecting $2,000 a month for the next 12 months or an additional $160 every month starting a year from now (i.e. the 8 percent annual increase for delaying benefits).

The $24,000 upfront seems like the better option. Especially since it takes 12 ½ YEARS of payments to make up for that missed $24,000.

Yet according to government statistics, the average American at age 66 will live another 17 ½ years.

In other words, you stand a very good chance of collecting at least another five years worth of those extra $160-a-month payments. That comes out to another $9,600 in your pocket!

So yes, Social Security is riddled with problems. And yes, it may not be around – or paying out nearly what it will hand near-term retirees – by the time I’m collecting my checks.

We will also all face higher taxes in the near future if the system is to be “saved.”

But there are still plenty of things that you can do to get more of your money back out of the system. Don’t feel guilty about it. Don’t worry about it. Just educate yourself on all the options and possibilities and take advantage of every little advantage you can.

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This investment news is brought to you by Money and Markets. Money and Markets is a free daily investment newsletter from Martin D. Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Dr. Weiss is a leader in the fields of investing, interest rates, financial safety and economic forecasting. To view archives or subscribe, visit http://www.moneyandmarkets.com.

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Lose up to 29 pounds of stubborn belly fat.

I was doing some research and found the 31 Day Belly Fat Cure that was designed by a former Army sergeant.  This simple and easy method will help you lose up to 29 pounds of stubborn belly fat. And anyone in reasonable physical condition can do this.  Its a no-stress method and it works. (No – I am not going to show you pictures, but I went to Costco yesterday and bought three pair of jeans and two pair of Dockers’ trousers two sizes smaller in the waist after only two weeks).

Here is a short video that explains the 31 Day Belly Fat Cure.  If you decide its for you, you are in good company as this is currently the best-selling belly fat loss program on the web today –and its perfect for us seniors.

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A lot of people are buying up Potassium Iodine tablets due to the Japanese Radiation scare.  It is pretty unlikely that the radiation will arrive here in dangerous amounts, but if we ever have our own nuclear plant disaster it would be good to have these on hand –and they are pretty cheap insurance.  Although most drug stores are out, Amazon has a pretty good supply of Potassium plus Iodine 180 tabs that sell for only $11.99 bottle.

No related posts.