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.

56827 Comments

Reply KiaPew
5:07 AM on November 5, 2020 
speman online
Reply balenciaga shoes
4:49 AM on November 5, 2020 
Thanks for your own labor on this web site. Betty loves getting into investigations and it's really simple to grasp why. Many of us notice all of the compelling manner you deliver great guides on the web blog and in addition invigorate participation from the others on this point so our daughter is without question being taught a lot. Enjoy the rest of the new year. Your carrying out a very good job.
balenciaga shoes http://www.balenciagashoes.us.com
Reply Yeezy 380
4:45 AM on November 5, 2020 
Reply irving shoes
4:37 AM on November 5, 2020 
I intended to create you one little word to give many thanks over again considering the gorgeous principles you've documented at this time. This has been really shockingly generous with you in giving easily just what a number of us could have made available as an electronic book in making some bucks on their own, most notably now that you might have tried it in the event you wanted. The smart ideas likewise worked to become fantastic way to comprehend the rest have the identical passion really like my own to grasp great deal more on the topic of this problem. I am sure there are numerous more fun sessions in the future for individuals that look into your website.
irving shoes http://www.kyrieirving-shoes.us.com
Reply longchamp
4:31 AM on November 5, 2020 
Thanks a lot for providing individuals with an extremely wonderful opportunity to read in detail from here. It is often very nice and also packed with a good time for me personally and my office acquaintances to search your blog at the very least three times every week to study the fresh secrets you have. And definitely, I am actually amazed with the superb principles you give. Selected 3 areas in this article are certainly the simplest I've ever had.
longchamp http://www.longchampoutlets.us
Reply kd 13
4:24 AM on November 5, 2020 
I am glad for writing to let you know of the incredible experience my friend's princess undergone viewing your web site. She even learned such a lot of pieces, which included what it's like to have an amazing coaching spirit to make many people without hassle completely grasp several complex subject areas. You actually did more than our desires. Thanks for offering the effective, trusted, edifying as well as easy tips about the topic to Julie.
kd 13 http://www.kd13.us
Reply Lisabinly
3:26 AM on November 5, 2020 
alli 60
Reply moncler outlet
3:08 AM on November 5, 2020 
I must show thanks to this writer for bailing me out of this particular crisis. Right after browsing through the the net and coming across techniques that were not productive, I assumed my life was over. Living without the solutions to the issues you have resolved through your good guide is a critical case, as well as ones that could have negatively damaged my entire career if I hadn't noticed your blog. Your personal expertise and kindness in touching everything was valuable. I don't know what I would've done if I had not discovered such a subject like this. I am able to at this point look ahead to my future. Thanks very much for the impressive and sensible guide. I won't be reluctant to suggest the sites to any individual who needs to have guide about this topic.
moncler outlet http://www.monclersoutlet.us.com
Reply longchamp handbags
3:06 AM on November 5, 2020 
Thank you for your entire hard work on this site. Betty takes pleasure in doing investigations and it's really easy to see why. A number of us hear all of the powerful method you deliver powerful information by means of this blog and in addition invigorate participation from others about this subject matter and our own daughter is really becoming educated a whole lot. Enjoy the rest of the year. Your performing a remarkable job.
longchamp handbags http://www.longchamphandbags.uk
Reply jordan shoes
3:06 AM on November 5, 2020 
I in addition to my guys came analyzing the good points from your site and immediately got a horrible suspicion I had not expressed respect to the website owner for those tips. The ladies were absolutely warmed to study all of them and already have certainly been making the most of these things. I appreciate you for indeed being very accommodating and then for making a choice on such marvelous guides most people are really desirous to understand about. Our own honest apologies for not saying thanks to you earlier.
jordan shoes http://www.jordansshoes.us.org
Reply kd 10
3:06 AM on November 5, 2020 
I'm commenting to make you know of the wonderful encounter my wife's child found viewing yuor web blog. She even learned several pieces, which included how it is like to have an awesome helping mindset to let a number of people really easily completely grasp various complex subject matter. You undoubtedly did more than people's expected results. Thank you for coming up with these informative, trustworthy, edifying and even fun guidance on this topic to Julie.
kd 10 http://www.kd10.us
Reply yeezy 700
3:06 AM on November 5, 2020 
I must get across my admiration for your kindness in support of persons that absolutely need assistance with in this concept. Your very own dedication to passing the message up and down appeared to be unbelievably functional and have consistently empowered others much like me to arrive at their dreams. Your entire informative help denotes much to me and a whole lot more to my office workers. Thanks a lot; from each one of us.
yeezy 700 http://www.yeezys700.com
Reply Kiabinly
2:07 AM on November 5, 2020 
lanoxin 0.25 mg tablet
Reply yeezy
2:00 AM on November 5, 2020 
I not to mention my pals ended up taking note of the great key points located on your site while quickly I had a terrible suspicion I had not expressed respect to the site owner for those strategies. All the young boys are actually for this reason stimulated to learn them and now have unquestionably been tapping into these things. Thanks for getting simply accommodating as well as for making a decision on certain quality resources millions of individuals are really needing to be informed on. My honest regret for not expressing gratitude to you earlier.
yeezy http://www.yeezy350boost.us.com
Reply KiaPew
1:37 AM on November 5, 2020 
buy cheap sildalis
Reply aarp life insurance
1:27 AM on November 5, 2020 
research paper components
Reply KiaPew
1:23 AM on November 5, 2020 
citalopram 40 mg tab
Reply DenPew
12:39 AM on November 5, 2020 
how can i get sildenafil prescription online average cost of 10mg cialis buy lipitor 20mg yasmin prescription uk ranitidine over the counter
Reply supreme clothing
12:36 AM on November 5, 2020 
I wish to convey my appreciation for your kindness giving support to people who absolutely need assistance with your field. Your real commitment to passing the message around had been incredibly invaluable and has truly permitted men and women just like me to realize their pursuits. Your new insightful useful information can mean a great deal to me and even further to my office colleagues. Thanks a lot; from everyone of us.
supreme clothing http://www.supremeshoodie.com
Reply hermes belts
12:07 AM on November 5, 2020 
I wish to express my thanks to the writer for bailing me out of such a problem. After researching throughout the world wide web and meeting opinions that were not beneficial, I believed my life was done. Living devoid of the answers to the problems you have resolved by means of the site is a serious case, and ones that would have in a wrong way affected my career if I hadn't encountered the blog. Your good expertise and kindness in taking care of all things was priceless. I'm not sure what I would have done if I had not discovered such a solution like this. I am able to at this point look ahead to my future. Thanks very much for the specialized and sensible help. I won't hesitate to recommend your web page to any individual who should get tips on this matter.
hermes belts http://www.hermesbelts.com
0