Shopping Cart
Your Cart is Empty
Quantity:
Subtotal
Taxes
Shipping
Total
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should be receiving an order confirmation from Paypal shortly.Exit Shopping Cart

Becker & Associates

Blog

Blog

What's Happening to SOCIAL SECURITY?

Posted on August 10, 2015 at 3:35 PM

 

 

We all know by now that $720 BILLION was borrowed from our Social Security fund by the current administration to pay for it's new Government run HealthCare. We got exactly what a citizenry who was not paying attention or holding their congress accountable for things like actually READING the bill before even considering imposing it on Americans can expect to get.

Throughout its 75 year history, Social Security has provided critical economic security to millions of retirees, families, children and the disabled. Social Security is paid for by the dedicated contributions of workers and their employers, has administrative costs of less than one percent, and since it cannot borrow to fund its operations, Social Security does not contribute to the deficit. No wonder that Americans from all walks of life consistently and overwhelmingly support our nation's most successful social insurance program -- a level of support that is not achieved by other governmental programs.Social Security is self-financed, cannot borrow, spends less than one percent on its administrative costs.

The government borrows these Social Security funds to pay for other government spending -- but is obligated to pay interest on these borrowings -- and pay back the borrowed funds in full when they are needed by Social Security for benefit payments. WHY aren't they paying it back?

A look at the federal budget over the same time frame reveals a starkly different picture -- many years of deficits, with only a few years of surplus -- a surplus that disappeared during the G.W. Bush Administration. In 1993, a Democratic Congress and President Clinton, without a single Republican vote in either the House or Senate, enacted a budget plan that put it on a path to elimination of the deficits --and brought the budget into balance, and then later into surplus.

The taxpayers of America bailed out the banks -- wouldn't it be fair now to ask the banks to pay back what they have cost Social Security? A tax on financial transactions and a tax on Wall Street bonuses, with revenues dedicated to Social Security, would pay back to Social Security and its contributors what has been taken from them.

Pay Back Social Security! -- The Government Has Borrowed More from Social Security (easy pickens) than any Other Entity or Foreign Government.

Another argument made by Social Security opponents to raise fear about the national debt is how much our government has borrowed from China. They never mention how much our government has borrowed from Social Security. In fact, the government has borrowed more from the Social Security surplus than it has from any other source in the world, including China. As a result, Social Security now "owns" nearly 18 percent of the federal debt, making it the largest single holder of US debt. The government owes almost twice as much to Social Security as it does to China and Hong Kong. ...and most Americans have no idea about this debt it seems, and are doing nothing to demand that the Feds pay US back!

We elect people who take our Social Security fund to fund a Government run Health Plan and just sit and watch the carnage done to what we've worked and contributed to for our whole lives. This "taking", "stealing", "Borrowing" or whatever we call it...the pillaging of a fund that working folks paid for, taken in order to pay for programs that the government will pay for is nothing more than a move to control the largest segments of the American economy.

How many Americans over 50 do you think are ready for life with no Social Security? The answer is not many! Only about 10% have saved enough to live life without a dime from social security.

Get a "Two-for"- Life Insurance with Long Term Care

Posted on July 17, 2015 at 4:25 PM Delete

delete Overlays edit Comments comments (0)

Using your Life Insurance for Long Term Care Expense:

Life Insurance policies are ever changing to meet the needs of our ever changing society. All the buzz is now on Long Term Care coverage, but if you've ever gotten a quote you know it is not cheap! Also, what if you never need it? Once you've paid the premium to the carrier for a Long term Care policy, it's GONE and you have nothing to show for it. Though there are benefits to having a comprehensive LTC (Long Term Care) policy...you can spell out the benefits in a more precise way, add on riders for COLA (Cost of Living Adjustments), etc, but the fact remains that it's expensive and if you never use it, it's money down the drain.

Do not mistake my message to mean LTC is not important! It is VERY important...in fact more important than ever, there are just more creative ways of getting it these days.

Using a Life Insurance policy with a guaranteed Death benefit and adding a 4% LTC rider is a very interesting solution. Let's use this example: You are healthy enough to purchase a $500,000. face amount and you become ill enough or have an accident and meet the requirement to be able to tap into your policy for its LTC benefits (the requirement for ALL LTC policies is just about the same, whether a policy or a rider) is being unable to do at least 2 of the ADLs - Activities of Daily Living). Using a $500,000. Death Benefit policy with the LTC rider of 4% per month = $20,000. per month available to you.

Per the IRS, at this time the maximum amount you may receive from your policy on a tax free basis is $330 per day or $9.900. per month. This is because the LTC benefit is essentially considered getting your Death benefit early. Depending on your needs, whether it be paying for a facility, paying for homecare, paying a relative to take care of you, you may decide to take only the tax free portion from your policy, but the full 4% is still available.

Then let's say you get better and return to life as normal in 6 months, you have taken or "used" (at $9,900. mo.) $59,400.00 of your Death Benefit thus reducing your policy's Death benefit to $440,600. This amount will be passed on to your heirs tax free OR be available for another round of LTC usage.

If you are 70 1/2 years old and are receiving "RMD"s (Required Minimum Distributions) from retirement funds that you don't really need, you can turn taxable income into tax free money using this strategy!

In summary, you've used tax free death benefits to pay for your Long Term Care needs and the money you've invested in your Life insurance is still there!

Example - A $500,000. Policy would cover the IRS maximum monthly LTC payment of $9,900. for 4.2 YEARS!

Some Statistics for the USA: For someone with a 90-day Elimination Period, the lifetime chance of someone buying coverage at age 60 and using policy benefits was 35%. So, 35% will use their coverage and 65% will not. As you might assume, the decline is because during those first 90 days, some people will recover and some will die.

Here is some meaningful information on nursing home lengths of stays as published in the Association's 2008 LTCi Sourcebook. Remember, that most long-term care is actually received at home but there are still fewer statistics about home care utilization for "long-term care" needs. When we get relevant ones we will publish them for consumers to read. Notice that the length of time that anyone stays in a Nursing Home is well under five years! We must consider the time that most people need in home care too, please see "Long Term Care Info & Statistics" blog for more info.

Average Length of Stays (Nursing Homes)

5 years or more - 12.0%

3 to 5 years - 12.0%

1 to 3 years - 30.3%

6 to 12 months - 14.2%

3 to 6 months - 10.0%

Less than 3 months - 20.0%

Average Length of Stay in Years

Female - 2.6 years

Male - 2.3 years

Married - 1.6 years

Single / Never Married - 3.8 years

Widowed - 2.3 years

Divorced / Separated - 2.7 years

Categories

Health care Reform - How Politics affect you (4)

2016- Small Employer Groups of 2 to 100 Employees (2)

2016-Employers with 100 or more Employees (2)

Life,Death and Illness & Injuries Happen, Be Ready! (7)

Disability Income Products (1)

Life Insurance for YOUR Retirement! (3)

Over 50 or 70 1/2 and taking Retirment distributions? (2)

Life Insurance-Term Care included! Any Age (3)

Long Term Care, Expensive- there's a more affordable Way (3)

Toll free 866.277.5147

Categories: Life Insurance for YOUR Retirement! , Life,Death and Illness & Injuries Happen, Be Ready!

Post a Comment

Oops!

Oops, you forgot something.

Oops!

The words you entered did not match the given text. Please try again.

88449 Comments

Reply legoldberg
5:56 PM on October 6, 2022 
xiaomi mi note 10 lite klapphülle talon timberland noir camper para niñas giacca maglia lana uomo max studio rn 58822 dress pochette dsquared2
legoldberg https://www.legoldberg.com/
Reply rncguide
5:55 PM on October 6, 2022 
carpisa tracolla donna new era x nba fußballschuhe adidas ohne schnürsenkel gorra dodgers campeones robe longue vero moda comma kleid chiffon
rncguide https://www.rncguide.com/
Reply golden goose
5:26 PM on October 6, 2022 
Thanks so much for providing individuals with an extremely remarkable possiblity to read articles and blog posts from this website. It is usually so amazing and as well , stuffed with fun for me personally and my office acquaintances to visit the blog particularly 3 times in one week to find out the newest things you have. And lastly, I'm also at all times fascinated with your stunning inspiring ideas you give. Selected two points in this posting are clearly the most beneficial I've ever had.
golden goose http://www.goldengooseoutletonline.us.com
Reply off white outlet
5:26 PM on October 6, 2022 
A lot of thanks for every one of your hard work on this blog. Debby enjoys conducting investigations and it's really obvious why. Many of us hear all about the compelling tactic you deliver functional guidelines via your blog and as well as increase response from people on that article then my simple princess has been learning a lot of things. Take advantage of the rest of the new year. You're carrying out a dazzling job.
off white outlet http://www.off-whites.us
Reply giannis shoes
5:26 PM on October 6, 2022 
I'm commenting to let you understand what a beneficial encounter my princess obtained reading through your site. She even learned some pieces, most notably what it is like to possess an awesome teaching spirit to get the others without hassle understand various tricky issues. You really did more than our expectations. I appreciate you for rendering the effective, safe, revealing and in addition easy tips about that topic to Julie.
giannis shoes http://www.giannisantetokounmposhoes.us
Reply Ebiunurl
5:19 PM on October 6, 2022 
atenolol side effects after stopping atenolol and gliclazide atenolol for liver
Reply osamusushi
4:50 PM on October 6, 2022 
notre x nike dunk high midnight navy man city goalkeeper kit evzero pitch 720 air max 2020 north face 700 vest pink ruched midi dress
osamusushi http://www.osamusushi.com/
Reply rabidenglish
3:46 PM on October 6, 2022 
mens gym shoes nike snipes air force 1 weiss xti sandalias tacon abendkleider kurz elegant amazon max mara borse 2020 golf bucket hat tyler
rabidenglish https://www.rabidenglish.com/
Reply upskirtpussypics
3:46 PM on October 6, 2022 
felicie pochette damier vans national geographic scarpe giubbotti primaverili uomo amazon basketball jersey with sleeves speck samsung s10 case kork zehentrenner
upskirtpussypics https://www.upskirtpussypics.com/
Reply canpharmacyyc
3:46 PM on October 6, 2022 
nike kyrie 6 amazon nike air force 1 herren rot tacones comodos para boda taufe kleidung damen portafoglio nuvola pelle dior hat blue
canpharmacyyc https://www.canpharmacyyc.com/
Reply kingsoftbbs
3:46 PM on October 6, 2022 
alma en pena barcelona kleid blumig borsa coccodrillo prezzo hat attack fringe travel hat jordan 1 rot blau weiß gorros cortos para hombre
kingsoftbbs https://www.kingsoftbbs.com/
Reply tquariusmusicusa
3:45 PM on October 6, 2022 
schwedische handyhülle handyhüllen gummi vente timberland homme zapatería ulanka maglie ultras inter red and black mini dress
tquariusmusicusa https://www.tquariusmusicusa.com/
Reply Davishon
3:12 PM on October 6, 2022 
mail order pharmacy
Reply Timothyjerry
1:35 PM on October 6, 2022 
Hello! propecia canada beneficial website http://propecia.site
Reply kyrie shoes
1:14 PM on October 6, 2022 
I not to mention my pals happened to be analyzing the great information and facts found on the website and instantly I got a horrible feeling I never expressed respect to the site owner for those tips. These people are actually consequently glad to study them and have sincerely been tapping into them. Appreciate your really being indeed accommodating and for deciding on this kind of terrific themes millions of individuals are really wanting to learn about. Our honest apologies for not saying thanks to sooner.
kyrie shoes http://www.kyrie9.us
Reply hermes birkin
1:14 PM on October 6, 2022 
I enjoy you because of each of your work on this site. My mother loves going through investigation and it is obvious why. A number of us hear all regarding the powerful way you render important items through this website and as well cause participation from other ones on the area of interest plus my simple princess is without question starting to learn a lot. Take pleasure in the remaining portion of the new year. You are always performing a really great job.
hermes birkin http://www.hermesbirkins.com
Reply curry 8
1:14 PM on October 6, 2022 
I must express appreciation to this writer just for rescuing me from this type of trouble. Just after exploring through the search engines and getting advice which were not beneficial, I assumed my life was gone. Existing devoid of the approaches to the problems you have sorted out by way of your entire write-up is a critical case, and the ones which might have badly damaged my entire career if I hadn't noticed your blog. Your main ability and kindness in playing with all the pieces was vital. I'm not sure what I would have done if I hadn't encountered such a thing like this. I'm able to at this point look ahead to my future. Thanks very much for this expert and amazing help. I will not think twice to refer the website to any individual who wants and needs guidelines on this subject.
curry 8 http://www.curry8.org
Reply curry 9
1:14 PM on October 6, 2022 
My wife and i ended up being joyful Jordan could finish off his investigation because of the precious recommendations he had using your blog. It is now and again perplexing to simply possibly be making a gift of guidance the others may have been selling. So we consider we now have the writer to thank for this. All the explanations you have made, the straightforward blog menu, the friendships you help to promote - it's got mostly astonishing, and it's helping our son and the family believe that that theme is interesting, and that's seriously mandatory. Thanks for all the pieces!
curry 9 http://www.curry9.us
Reply goyard
1:14 PM on October 6, 2022 
Thanks a lot for giving everyone an extraordinarily brilliant opportunity to check tips from this blog. It is usually very superb and also stuffed with amusement for me personally and my office fellow workers to search your website really three times per week to read through the latest items you have. And definitely, I'm always fascinated concerning the powerful guidelines served by you. Some 3 areas on this page are basically the most effective we've ever had.
goyard http://www.goyardshandbag.com
Reply andthegiraffe
11:35 AM on October 6, 2022 
peter hahn maxikleider handyhüllen für redmi note 9 amazon hülle iphone 12 pro chaussure converse dior femme calzado andrea maglione collo alto a coste uomo
andthegiraffe https://www.andthegiraffe.com/