Social Security and Plan B

Is there anything more disappointing than working a plan that has no future in it? Take for instance, these lines from my annual Social Security Statement under “What Social Security Means to You”
 
This Social Security Statement can help you plan for your financial future…. If you see a mistake, please let us know…. Social Security is the largest source of income for most elderly Americans today….. You will also need other savings, investments, pensions or retirement accounts to make sure you have enough money to live comfortably when you retire… In 2016 we will begin paying more in benefits than we collect in taxes…. By 2037 the Social Security Trust Fund will be exhausted.
 
I am one American who has heard “rumors” of Social Security failing, but here it is in black and white directly telling me that dollars I have handed to the government will not be around for me to collect at age 67. Hard work at a stable job was not enough and a big “Do Over” sign would have been really helpful say 5-10-15 years ago. Basically, my retirement is up to me. 
 
Plan B?
 
The good news is ~ I live in America! The country that is failing in Social Security is the same one that gives opportunity to those ready to seize it. Having a “Plan B” has always been acknowledged as a good idea – now it is mandatory. Plan B can be the suggestions the government gave in the above quote, or it can be business opportunities and/or income producing properties that bring residual income. 
 
So Now What?
 
Each of the many ways to increase income comes with a price tag to the American. The cost of education is now part of your Plan B. Don’t be fooled or tricked into investments and businesses that have fantastic claims of curing your retirement ills. As a homeschooling mom, I seize the opportunities I have for self-education.  Make an educated decision about your future. Use resources from your library, internet and Better Networker to grow your knowledge of what opportunities you have in creating your own future.