Andylusion
Platinum Member
From the guy that had an ineffectual response to the corona virus, now this;
Coronavirus May Mean No Social Security COLA in 2021 | The Motley Fool
The negative economic impact of coronavirus on the U.S. economy is bad news for Social Security's more than 64 million beneficiaries.www.fool.com
Which that alone should tell you something.
You should be able to learn from this.
Why would an economic down turn, have any effect on retirement?
For example, my parents have a net worth over a million dollars.
Yes, the stock market dropping has reduced their net worth by a few thousand. But has that prevented them from collecting on the investments that they own? No.
Why? Because they own those investments. Dividends are still being paid.
Nothing the economy, or Donald Trump, nor Obama before him, can do stops them from having their retirement.
But social security is different. Social Security like any socialized, ponzi scheme, only works if people are working to pay into the system. The system itself has no money, and no assets. If no one pays in, it is instantly broke.
My parents bank accounts that have hundreds of thousands.... no one needs to pay in. My parents retirement isn't dependent on anyone, or government. They purchased assets, they get returns, and they own it.
Social Security is a horrible system, and even while you complain about Trump, you are merely proving how bad Social Security is.