5 Retirement Myths

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There is no Social Security Trust Fund. The withholding taxes that you think you are into the "Trust Fund" go into the general revenue of the United States. The whole thing one big Ponzi scheme, and U.S. News & World Report and the rest of the MSM are in on this scam.
Bernard Madoff only fleeced a few hundred people, for which he will spend the rest of his life in jail. The U.S. Government has scammed the entire population.

The Baron of NY 12:15AM December 16, 2010

The article should also stress the importance of cost of living increases. For example, my heating costs have quadrupled since I retired 7 years ago (from $59 to $240 in winter!). Also, I know I'm fortunate to have good health benefits from my previous employer, but my out-of-pocket medical expenses are rising rapidly. The co-pays and deductibles incurred for all the different medical specialists involved in one's hospital stay are mind-blowing.
If you're living close to the edge, such increases can really restrict your plans for things like travel!

R, Young of MI 8:40PM October 11, 2010

How can you servive a year or 2 waiting on a hearing to see if your going to get disability Its just not right, because if you cant work, have a little savings you have to spend every dime paying bills and then your broke,with nothing to fall back on. What can I do? I have a lawyer but they even said I had to stand in line .I filed about 3 months ago and they say I deserve to get disability.But they tell me it's going to be year or more wait. If that wasnt enough tthe lawyer told me I will have to wait about 2 years after I get disabilty for insurance wich I have none and need back surgery now.What is your advice I really need some.

Judith Overby of NC 12:24PM September 30, 2010

Retirement is each individuals responsibility. Social Security will pay only so much and that is not enough to be the single source of income. You may not be able to work as long as you need to to support yourself. Company pension/retirement plans are good, especially if they provide a means to coninue health insurance. However, this does not preclude the need for the individual to save and prepare on his own for retirement

Grant Knox of GA 7:01AM September 29, 2010

"The estimate assumes a 3 percent annual raise, a 3 percent employer 401(k) match, and 8 percent compounded annual returns."
Where do I sign up? -TK

Thomas K of MN 1:19PM September 21, 2010

Let's see the dumdorats took over the house and senate in 2006 we have been going downhill ever sense. Now who should we blame, the IDIOT'S want to blame the president at the time. I want to blame the dumdorats that had control of all spending and policies. YOU dumdorats have no clue and won't take blame for your stupidity. You are great americans.

Alan of AZ 7:47PM September 18, 2010

Bottom lin...If you take the time to educate yourself and your children, you will work, they will work, you will provide for your needs (some people's needs are excessive) and your children's needs, and you will be able to get some of your wants (again some people want too much. If you do this...I've been working for 36 yrs., you should have saved some money because you educated yourself, and you did not overspend on your needs and your wants. This is not difficult to understand, however, it is dfficuly for many Americans to do. Many live in excess, and they will be "uncomfortable" in their retirement years. Unfortunately, I do not believe their children will be capeable of helping, due to their lifestyles of excess and sometimes poor work values. Sooooooooo, let's face reality and stop blaming everyone else. Yes, the political parties do waste much of our tax dollars, and handouts are out of control, but I still believe we live in the land of opportunity. Get off your a---es, educate yourself, work, do not live in excess, and save. You'll be fine.

joyce of MA 2:04PM September 17, 2010

Just think, when Bush jr took office we had a record budget surplus. Bush and the GOP then proceeded to give us: massive tax cuts for the rich, got us into 2 wars (not to mention being asleep for 9/11), corporate welfare (as if they weren't already making enough money), deregulation (resulting in the housing and bank collapses), and Sarah Palin (the primary reason I could not support McCain). The dems aren't much better, but compared to what the GOP has done to this country, I find it amazing that there are still some republicans left who still support the GOP even though it is not in their best interests (unless they are rich). In this same time, the amount of wealth the top 2% have, has drastically increased, while the middle class is in dire straits, thanks to Bush and the GOP. Wake up middle america, the GOP is nothing more than a bunch of snake oil salesman.
A proud independent.

RicknATL of HI 9:15AM September 14, 2010

Yes, there is no trust fund. It is like on the move dumb and dumber running the country. When we need to get our minimal ss check they will hand our children the bill. Unfortunately it seems we are raising a generation of children that feel everything should be given to them without having to work, or do without much like most of us had to, maybe they are right...we did that trying to get ahead and now we hear we make too much and the government wants to take what we have saved and worked our whole life for. Socialism and communism is dead, but we have to fight that battle every generation, because the next generation always think they know best. Or they are so told by the liberal educational establishment.

ellen of FL 8:15PM September 13, 2010

Diana,
How can the republican congress and house be blocking anything when they don't even have enough members to filibuster? Don't forget, in 08 we gave him the keys to the country with no check and balance by voting in a majority to the House of Representatives and Congress. The legislation coming out of Washington, while perhaps well intentioned is creating uncertain economic conditions for business. This is part of what is driving the lack of an employment recovery.

Bob of WI 2:00PM September 10, 2010