• Home
  • About
  • Advertise
  • Contact
  • Policy
  • Guest Post
  • Archive

One Cent At A Time

A Personal finance blog to get rich

  • Email
  • Facebook
  • Pinterest
  • RSS
  • Twitter
  • Beautiful Life
  • Becoming Rich
  • Beginners Guide
  • Extra Income
  • Productivity
  • Saving Money

State of Social Security, a Gloomy Infographic

September 12, 2012 21 Comments

Share this:

  • Tweet
  • Email

Here is the gloomy Picture on the state of social security. This infographic is created by my friend Craig. The concept and topic were given by me. But, before you proceed with this, I will urge you to go over social security administration’s own infographic on the state of social security fund and its future.

It’s not good, either you start saving for your retirement today, if you are not up to it or, be prepared to work till you drop. There’s no alternative in sight, that I can think of, especially for the readers who are in their forties or younger.

Infographic credit http://www.saffery.com/

I am not in to fear-mongering. You’ll get your social security obviously (or presidents would step down) but, you might not get an amount you hope for today. The reason being the outflow vs. inflow gap. With Fed in deep debt I don’t think any cash infusion will take place in next few decades.

Hence, it’s time now to realize this hard-facts and start saving on your own. let’s all build up our own nest egg. I know it is hard for many. People struggle to meet the demand of their family’s current need. Still there might be some help somewhere, whether it’s by saving more money or by opening new streams of income by earning on the side. Here we really improve our finances one cent at a time.

Let us know strategies you are adopting to cope with this changing landscape. Also, will you support higher payroll taxes for social security? Let us know your opinion.

LIKE THIS POST?
I agree to have my personal information transfered to MailChimp ( more information )
Join our community of 8000+ subscribers to increase your net worth and build wealth
We hate spam. Your email address will not be sold or shared with anyone else.

Share this:

  • Tweet
  • Email
The tool that changed the way I manage my personal finance - Personal Capital, The Best Free Personal Finance Tool

Want to start a WordPress blog now? The onecentatatime.com blog is hosted by Siteground Web Hosting. For only $3.95 a month, Siteground can help you set up and host your website/blog quickly and easily.

About the Blogger Hi I am SB, a personal finance enthusiast with a career in software development. I am an immigrant to the USA since 2005, after being born and brought up in India. This 40 something technocrat lives and breathes personal finance whenever he gets time from the day job, job as a husband and a dad

Some links on this page may be affiliate links, if you make a purchase following the links, I may earn a commission. Read affiliate disclosure here
« Weekend Chit Chat, Proposed Site Redesign and Carnival Gratitude
Few Reliable Ways to Buy Gold for Investment »

Comments

  1. Nicoleandmaggie says

    September 12, 2012 at 8:50 AM

    Social Security is easy to fix. It’s Medicare you should be worried about.

    http://nicoleandmaggie.wordpress.com/2011/08/12/a-much-requested-picture-about-the-future-of-the-economy/

    Reply
    • SB says

      September 14, 2012 at 8:09 AM

      Not sure if it is an easy fix ..

      Reply
  2. Kurt @ Money Counselor says

    September 12, 2012 at 11:39 AM

    The money for Social Security, Medicare, etc. can easily be found in an economy the size of the USA’s. It’s all a simple matter of priorities.

    Reply
    • SB says

      September 14, 2012 at 8:10 AM

      You mean cutting elsewhere to fund social security? I am not so sure Kurt, which other areas you’ll cut from?

      Reply
  3. [email protected]&More says

    September 12, 2012 at 12:14 PM

    I would rather save for retirement myself because I know I am disciplined enough to do so. Unfortunately most of the rest of the country isn’t. I don’t support higher payroll taxes.

    Reply
    • SB says

      September 14, 2012 at 8:11 AM

      Yes, a lack of financial literacy, if you can can say.. People buy things to live now, not thinking about how to live post retirement.

      Reply
  4. Sean @ One Smart Dollar says

    September 12, 2012 at 4:02 PM

    I have no faith that I will have a SS to rely on in 30 years. I wont support higher taxes because they will probably find a way to screw up the system again.

    Reply
    • SB says

      September 14, 2012 at 8:08 AM

      You will have but, how much is the question. May not be much Sean! be prepared

      Reply
  5. femmefrugality says

    September 12, 2012 at 4:23 PM

    I’m with Sean. Even if it is possible to fix, I’m planning for the worst case scenario. Always better to be prepared.

    Reply
    • SB says

      September 14, 2012 at 8:07 AM

      I second that!

      Reply
  6. DC @ Young Adult Money says

    September 12, 2012 at 4:42 PM

    If only people in their 20s and 30s realized there will be no social security when they retire, we could get a big enough voting bloc to say “enough is enough” and have true social security reform. I understand that there are people who should get it for the next few decades, but there should be a cut-off point where the program ends. Any money taken out of my paycheck towards social security is a sunk cost to me, I have zero faith that there will be social security when I retire.

    Reply
    • SB says

      September 14, 2012 at 8:13 AM

      I am optimistic and ready to hear social security reform bill, something in the line of health care reform bill, in next 4 years..

      But people say I am over optimistic, let’s see what’s in store for us.

      Reply
  7. Michelle says

    September 12, 2012 at 10:00 PM

    “If you wait until your 30’s, you should save 15%” is crazy to me. I really don’t think *most* 20-somethings think about savings! Maybe (hopefully), I’m wrong!
    The whole thing with social security is stupid and maddening. The first people who were able to get any of it never paid any into it! Such stupidity on behalf of those who are supposed to be the ones making decisions for the rest of us lowlies.

    Reply
    • SB says

      September 13, 2012 at 12:17 AM

      this is hard reality, not any more in our control.

      Reply
  8. Garrett says

    September 13, 2012 at 9:24 PM

    I love these sorts of infographics. The one that popped out to me was truly shocking just as advertised – 46.1% of Americans die with less than $10,000 to their names. That’s absolutely nuts! Combine that with the average person living off just $1000 in Social Security and it’s actually very, very sad to think about.

    Then when you consider that Social Security may implode in the not-so-distant future things look quite bleak. I try to be the optimist but sometimes it’s just too hard…

    Reply
    • SB says

      September 14, 2012 at 8:06 AM

      Unfortunately we have to live with it. Just think about other countries without any social security.

      Reply
  9. Fox says

    September 14, 2012 at 12:59 AM

    Very good infographic. May i ask the tools you use for creating infographics? I haven’t’ used any of it in my presentation yet so i am planning to learn it.

    Reply
    • SB says

      September 14, 2012 at 8:03 AM

      Actually I ordered the infographic. I can give you the contact if you want. Basically you need to have a concept, then gather the data. Make sure to clearly state the objective to the designer.

      Reply
      • Fox says

        September 23, 2012 at 12:50 PM

        Oh i see, sounds interesting. Do you think its learn-able in a short period of time? I am interested to learn myself. Anyways, thanks.

        Reply
  10. Manette @ Barbara Friedberg Personal Finance says

    September 14, 2012 at 4:44 AM

    I would not depend my retirement income on Social Security alone. Aside from my 401, I also have a separate account for my retirement. But I think the issue on Medicare should be resolved immediately.

    Reply
    • SB says

      September 14, 2012 at 8:05 AM

      The other retirement account you have mentioned, is it IRA or Roth IRA account? I do have 401(k) with company match and IRA account. Like you, I am also not relying on SS income.

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



Create your own blog in 20 minutes and $20

Personal Capital, a free tool to change your financial health today

I use and suggest Upstart, for your personal loan need

CreditKarma, a free tool to check your credit scorey

I use Coinbase, for my crypto investments

101 Cents at a Time

101 Ways to Earn Extra Money on the Side
201 Frugal and Perfect Birthday Gifts
101 Ways to Save Money Everyday
101 Ways to be Better and Successful at Work
101 Ways to Save Environment and Energy
101 Frugal and Romantic Anniversary Ideas
101 Low-Cost Men's Fashion Ideas
101 Personal Finance Tips
101 Ways to Reuse Household Stuff
101 Things to Do, When Nothing to Do
101 College Graduation Gift Ideas
100 Tips for Ecommerce Startup
101 Ways to Enjoy Indoor During Winter
101 Ways to Beat Procrastination

Popular Posts

Quick Cash - How to make $100 legally, in a day
Living well on less than $15,000 a Year
Top survey sites for side income
What to do when auto repair goes wrong
Where should I invest my money now?
20 Ways to be productive and happy at work
51 Ways to get out of debt
Be a better person in 15 days, 15 ways
Income ideas for retirees and senior citizens
51 side jobs for college students
Urgently need a large amount of money?
Should I buy or should I rent?
Best Personal loan providers
25 Ways to save environment
25 DIY car repairs to save money
How to decorate office cubicle
How to show your wife you care
50 Financial Rules for Success
51 Frugal weekend family activity ideas
Become Rich By Saving 1 Hour Of Daily Wage
How much do I need to save for retirement?
How to negotiate your salary

Follow us on FaceBook

About Author

SB

Blogger by choice and IT manager by profession. Finance is my passion and gardening is my greatest satisfaction. Born in India, settled in US, Husband and a father. I created this blog in 2011 with a vision to help others. Thanks for your patronage. More info on my "about" page.

View all posts


Subscribe

Join our community of 5000+ subscribers to increase net worth and build wealth

Advertisements

Personal Stories

How I got a new HP computer replaced
Was COVID circulating in USA in fall of 2019?
How my credit score went up 800+
Why I didn’t invest in Bitcoins
How I controlled impulses to buy things
Why this blog is named One Cent at a Time

Subscribe via Email

Site Disclaimer

Disclosure of Material Connection: Some of the links in this web site are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Read full Affiliate disclosure


One Cent at a Time is published by SB. The opinions expressed herein by him are his own and not those of his employer or anyone else. All content on One Cent at a Time is for entertainment purposes only. By reading this blog, you agree that SB and/or One Cent at a Time is not responsible for any actions taken after reading this blog. For the full disclaimer, click here .

Major Media Mention

One Cent at a Time Media Appearances

Copyright © 2023 One Cent At A Time · Designed by Nuts and Bolts Media