John Valencia’s Post

From the Cradle to the Grave Why do people with common sense believe the government would be a more effective and efficient saver thanindividuals with half a brain that understand saving and compound interest. Do the math on what you would save for retirement over 50 years, saving 10 percent of your gross income (non taxable) at 6 or 7 percent compounded. Now over 56% of our federal budget goes to entitlement payments - and the enourmous cost of processing and monitoring them - most of that to people who could have done better if they actually had control of the money they earned. Whose money is it? Keep the safety nets for the truly disenfranchised -but teach Everyman common sense personal financial principals and save future generations from the foolish hole we are creating.

Absolutely appalling since the ones who have worked the longest paying in for Social Security and now drawing or attempting to draw-- are the ones who are seeing and feeling the repercussions of not only not being able to have the correct Cost Of Living Adjustments that should be received after the longest solid work history of all the years of paying into Social Security but also, this Government taking from the Social Security fund which was once FULLY AND BEYOND -> in the BLACK$$ -- Yet, our Government robbed from the same said - S.S. fund and -- Might I add, like everything else -> Never put back what was taken from the S.S. fund? NOW ALSO -> WE have more non- working individuals in this country than EVER BEFORE on top of our already burdened welfare system which was a MASSIVE problem long before adding yet more burden to our system? Why would anyone think there would be a problem? 🤔😒

Alex Durante, economist, Tax Foundation, opined on the Social Security situation facing our country. Here is an excerpt. The full article is in the link. There are not enough workers paying into Social Security to support the current system. When Social Security was enacted, the ratio of workers to retirees was 5 to 1. Today, it is 3 to 1, and quickly approaching 2 to 1. The program was not designed to handle mass retirements. Social Security is the federal government’s largest program. The cliff is fast approaching, and our political leaders cannot tell taxpayers they did not see it coming. #socialsecurityinsolvent #ssrunningoutofmoney #2035socialsecurity

This is clearly an issue, and no one on either side has stepped up to fix it yet. When the social security program was started, the ratio of workers was to retirees was 5:1. It is 3:1 now and is heading lower. So, I am curious about why ‘older’ workers are essentially still forced into retirement when companies start exiting employees once they are in their fifties. There was a recent Linkedin article posted just last week that says if you’re 57 and above, you shouldn’t even apply for the job. It's not true that there's a lack of jobs out there, as almost every company talks about the war for talent. Yes there might be a skills mismatch but all skills can be learned and developed in almost everyone. What do you expect when you discriminate against almost 25% of the total population? Is this going to help the worker to retiree ratio? Not discriminating helps in at least two ways. It helps improve the 3:1 ratio and delays the starting social security payments, which could help the overall situation. #discriminaion #organizations #solutions

Pat of the issue is that the SSI system was never designed to support people in retirement for 10-15-20+ years. When it was structured, with a retirement age of 65, the average life expectancy was much shorter than it is now. Combine that with a population base that is shrinking and it's no wonder the system is becoming insolvent. The minimum retirement age should gradually bump up a little and eliminate the cap on income for collecting SS contributions.

Positive news for Social Security and Medicare recipients! 🎉 The latest report shows that the projected depletion dates for both programs have been pushed back, offering a welcome respite. This positive development is largely due to a stronger economy and higher payroll tax income. However, it's important to remember that this doesn't eliminate these essential programs' long-term financial challenges. 🧐 Feel free to reach out if you have any questions or concerns. #SocialSecurity #Medicare #RetirementPlanning Source: https://lnkd.in/egdMSYCw TinyURL: https://lnkd.in/eeCvDnpZ

Positive news for Social Security and Medicare recipients! 🎉 The latest report shows that the projected depletion dates for both programs have been pushed back, offering a welcome respite. This positive development is largely due to a stronger economy and higher payroll tax income. However, it's important to remember that this doesn't eliminate these essential programs' long-term financial challenges. 🧐 Feel free to reach out if you have any questions or concerns. #SocialSecurity #Medicare #RetirementPlanning Source: https://lnkd.in/gqEqEBeC

Positive news for Social Security and Medicare recipients! 🎉 The latest report shows that the projected depletion dates for both programs have been pushed back, offering a welcome respite. This positive development is largely due to a stronger economy and higher payroll tax income. However, it's important to remember that this doesn't eliminate these essential programs' long-term financial challenges. 🧐 Feel free to reach out if you have any questions or concerns. #SocialSecurity #Medicare #RetirementPlanning Source: https://lnkd.in/dKcuZ-bS

Recent forecasts suggest that the Social Security cost-of-living adjustment (COLA) for 2025 could be the lowest since 2021, potentially impacting your clients' financial resources. According to the Senior Citizen League (TSCL): --> 71% of seniors they polled indicated that lingering inflation has forced them to deplete their savings --> 68% of seniors said their monthly budget for essentials like housing, food, and medicine was higher than last year --> 63% of seniors worry that their retirement income will not cover the cost of essentials. With the potential COLA decrease and ongoing concerns regarding current and future expenses, it’s crucial to explore additional avenues to maintain your clients' financial stability - and this is where a Life Settlements (LS) transaction can help! Why LS Matter Now: 1. Boost Your Clients' Financial Flexibility and Cash Flow: With a lower COLA, Social Security benefits may not stretch as far as many had hoped. LS allows your clients to sell their existing life insurance policy to institutional investors for a lump sum payment. The immediate cash infusion can help bridge any gaps in their income or cover unexpected expenses. In 2023, LS payments averaged 6.2x more than cash surrender value, which translated into an additional $262,000 in policy owners’ pockets – overall, policy holders received $707 million more from LS versus lapsing or surrendering their life insurance coverage! 2. Relief from Premium Payments: Selling a life insurance policy via LS means the policyholder no longer has to continue making current or future premium payments. This can be particularly advantageous for those who find the premiums to be a financial burden or no longer need the coverage. 3. Strategic Financial Planning: LS offer a way to reallocate funds into other investments or financial strategies that might be more aligned with the policyholder’s current financial goals and needs. The projected decrease in COLA emphasizes the need for proactive financial planning. By exploring LS, you can better prepare your clients for potential shortfalls and ensure that they have the resources needed to achieve their financial goals.          You can read more here: https://lnkd.in/gCapgGfR Please call us at (866) 511-5990 with any questions or for a complimentary policy review. -with Doug Himmel and Justin T. Blau #LifeSettlements #insuranceagent #estateplanning #financialplanning #successionplanning #exitplanning #Bankruptcy

Positive news for Social Security and Medicare recipients! 🎉 The latest report shows that the projected depletion dates for both programs have been pushed back, offering a welcome respite. This positive development is largely due to a stronger economy and higher payroll tax income. However, it's important to remember that this doesn't eliminate these essential programs' long-term financial challenges. 🧐 Feel free to reach out if you have any questions or concerns. #SocialSecurity #Medicare #RetirementPlanning Source: https://lnkd.in/eTyCwUhN