Save Now, or Pay Later by Burnett Sawyer

Imagine…this is your paycheck You’ve worked hard for it.

But first…20% for income tax Uncle Sam must have his share.

Then…30% for Social Security According to Senator Alan Simpson, our generation will have to pay this much.

The news gets worse! Even that won’t be enough to keep Social Security alive in the year Remember that year—2043.

What’s the problem? The Social Security system can’t ensure our savings for retirement.

What’s the solution? We have to start our own savings plans, and the earlier the better!

Social Security Timeline 1935: Social Security system began

Social Security Timeline 1935: Social Security system began 1983: System is adjusted, predicting a 2056 end 2056: The end of Social Security (1983 adjustment)

Social Security Timeline 1935: Social Security system began 1983: System is adjusted, predicting a 2056 end 1992: System is revised, predicting a 2043 end 2043: The new end of Social Security (1992 revision) 2056: The end of Social Security (1983 adjustment)

Social Security Timeline 1935: Social Security system began 1983: System is adjusted, predicting a 2056 end 1992: System is revised, predicting a 2043 end 2029: Social Security to bankrupt the US (AARP report) 2043: The new end of Social Security (1992 revision) 2056: The end of Social Security (1983 adjustment)

What won’t work... We can’t leave the problem to the government. One more “fix-it” job won’t solve anything.

What will work... We each need a personal savings plan. We should save $200,000 by age 67.

A $200,000 Savings Plan

In summation... The Social Security system can’t promise us financial security when we retire in 2049.

So let’s get started... We have to start our own savings plans. The earlier we start, the easier it will be to reach our goals.