RE: Money | Memoir Monday (Week 22)

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RE: Money | Memoir Monday (Week 22)

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ericvancewalton in Silver Bloggers • 4 months ago

My dad raised my brother and I with that same financial philosophy that your father had. His resourcefulness used to amaze me. He didn't ever buy much for himself but if an appliance ever broke down and he couldn't fix it he'd pay cash for a new one. He was so good at saving for emergencies. We never went without.

I'm sorry to hear of your struggles, my friend. Now that my mom is elderly I see how hard it is for some seniors to survive who are on social security. Society should do better to take care of the older people who've worked hard and paid taxes their entire lives. Many politicians here in the US want to dismantle the social security program so it'll be a miracle if it's still around when I can start taking benefits in nine years.

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4 months ago in Silver Bloggers by ericvancewalton

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irvinc 4 months ago

Yes, it is very unfortunate that due to a bad administration of the states it is not possible to have a pension to cover the expenses in this stage of the golden years.

I thought that in the USA things were different, that they were more protected. The truth is that there are many traps everywhere, there is no security in the stock market or in banking. It seems that the least risky thing to do is to have some property that you can rent when you are older.

Thanks for stopping by and commenting, dear @ericvancewalton . A big hug from Maracay.

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ericvancewalton 4 months ago

I'm sorry to hear that! Yes, decades ago the US government began "borrowing" from the Social Security fund and now every new dollar paid into the program is used to pay outgoing benefits for current retirees. The program is due to be completely insolvent by 2030, or possibly sooner. Some politicians are actively trying to dismantle the system before it goes insolvent. Thank goodness for crypto! Thank you my friend. Have a wonderful evening.

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