Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations (i.e. The Baby Boomers) are doing that Gen-X and Y will end up paying for.
Freep mail me to be added or dropped. See my home page for details and previous articles.
The government has gone out and spent the "surplus" every year to balance the budget and pay for their pet projects as well as other entitlements. For those people who had their paychecks pilfered they are supposed to now do without what was originally promised to them in return for the confiscated money?
Not gonna fly....
2011 eh?
Ok, I've been able to build net worth from $0 to almost $300,000 in 6 years, I figure in another 6 I might be able to get to $500,000. Then it's down to Belize to run a tourist attraction! See ya bankrupt USA!
So in other words, if you like Mother Hen, work hard, save for the future and look forward to a comfortable retirement, you can forget it. The government will take away what it had contracted to give you and instead give it away to those that did nothing to prepare for their retirement.
That doesn't sound very inspirational to Generation X to me.
What I suggest to Gen X, is to create trust accounts. Fund these trust accounts with assets prior to your retirement. The trust accounts are not counted among your assets (Now, keep in mind, you'll need an accountant and competent attorney to ensure this is the case) and without assets, you can prevent additional government funding going to the slacker Baby Boomers who will all live beyond 100. You will also need good trusties that will utilize trust proceeds to your benefit.
Big hassle? Yes.
Expensive? Yes.
Keeping your tax dollars from going to slackers.... priceless!
Just like that old thief FDR planned it. Take money from people and use it to buy their votes in exchange for "free" benefits.