COVID Could Save Social Security

You are receiving this email because you signed up to receive our free e-letter the Wealth Whisperer COVID Could Save Social Security 05/22/2023 Nothing is more American than dumping money into a government retirement fund you’ll never see. Our country has 10 years left until Social Security becomes insolvent. This isn’t a shock to anyone, including the politicians charged with fixing the problem. Yet, they’d rather hand out billions to pet projects instead of shoring up our fiscal affairs. Social security suffers from three problems: - Fewer contributors - Smaller real-money contributions - People living longer Interestingly, the more we spend on Medicare, the more we spend on Social Security. This isn’t meant to be some morbid revelation. Instead, it’s a simple fact. - You spend money to keep folks healthy. - They live longer. - They draw more from Social Security. That’s why more than a dozen studies have looked at whether COVID pushed back the Social Security insolvency date. Initially, the results suggested we will lose more in economic productivity. But after the rebound in 2021-2022, those dynamics shifted. No one is advocating for a Jonathan Swift Modest Proposal style solution (except maybe for lockdown advocates). But many wrongly ridiculed Paul Ryan for suggesting we raise the Social Security age limits, privatize the funds or both. So, what does this have to do with us as investors? It’s simple. With Social Security firmly in the spotlight, our retirement strategies need to be re-examined and updated. We have to make sure we are prepared for the future of Social Security. Your investment choices today could be the difference between retiring at 65 or 75. SPONSORED CONTENT [Doing This Wins 85% Of Market Trades]( I got friendly with some of the traders at the Chicago Board Options Exchange and started learning the ropes. I started out with $50,000 (much more than I needed, actually), and over the next 10 years continued to perfect this strategy as my $50k grew into $5.3 million! You can get great returns by starting with much less. [Click Here To See How It Works]( [Click Here to Read More...]( Does that mean we need to get overly aggressive? Not at all. In fact, we’ll introduce you to what we like to call a [Second Social Security Check.]( To do that, we need to understand what insolvency looks like and the most likely solutions. Social Security insolvency does not mean that the program will stop paying benefits. Instead, you will receive a portion of the benefits. Current estimates put the number at 80%. Source: [CBPP.org]( That might not sound that bad until you consider inflation. We’ve seen the price for goods and services jump more in the last few years than they rose in the prior decade. And one of the worst offenders is health care -- a huge chunk of a retiree's budget. This also assumes payroll taxes come in as scheduled, which relies on economic growth and many other moving parts. Some of the solutions being proposed include: - Raising the payroll tax cap: The payroll tax is a tax that is paid by workers and their employers. The payroll tax cap is the maximum amount of income that is subject to the payroll tax. Raising the payroll tax cap would increase the amount of money that is collected in payroll taxes, which would help to shore up the Social Security trust fund. - Reducing benefits for high earners: Currently, Social Security benefits are not reduced for high earners. This means that wealthy retirees receive the same benefits as low-income retirees. - Gradually raising the retirement age: The full retirement age for Social Security benefits is 66 years old. Raising the retirement age would mean that retirees would have to wait longer to receive full benefits. - Increasing the payroll tax: Today’s payroll tax runs about 6.2% of wages. - Changing cost of living adjustment calculations: Social Security is adjusted based on the Consumer Price Index (CPI) every year. Different calculation methods could slow the increases over time. - Privatizing a portion: Privatizing Social Security would mean that individuals would be able to invest a portion of their Social Security taxes in private accounts. This could help to increase the amount of money that is available for retirement, which could help to reduce the need for Social Security benefits. [The Perfect Portfolio: No Losses, 14X Gains]( I want to share with you something very important… and very simple. I’m talking about a 3-stock strategy that’s been immune to market losses over the past two decades… while outperforming the S&P 500 by 1,461% during that same time. That’s no losing years plus 14X gains. I call it the “Perfect Portfolio.” [Click here now for all the details.]( [Click Here to Read More...]( Option six could be the one option that wouldn’t involve higher taxes or curtailing benefits. It’s also the least likely option, given its complexity. The most likely fix will be something that pulls in aspects of solutions one, two and three. All the others are simply unlikely due to the fractured political nature, or the complexity involved. Currently, the average payment for Social Security is around $1,700 or $20,400 annually. By 2034, that should increase to around $1,970 or $23,640 annually. If that number drops to 80%, it becomes $18,912 annually -- a decrease of $4,728. Essentially, you would need around $100,000 and a 5% interest rate just to make up for the money that you’re owed. It seems rather unfair, but that’s the situation. [We Called (MSFT) In Advance… What’s Next?]( There are thousands of Stocks, Futures, ETFs and Crypto to trade...and the list goes on and on. But only one tool to [learn the best time to enter trades before they takeoff >]( [Click Here to Read More...]( Fortunately, you don’t have to let it become YOUR reality. Remember that second Social Security check we talked about earlier? In order to make that happen, you’re going to need an investment that provides a near-constant stream of income. 401(k) plans and IRAs rise and fall with the stock market. While they’re great over the long run, it’s tough to plan year-to-year in retirement. That’s why Bob Carlson decided to lay out how the average investor can create his or her own Second Social Security Check. If you’re worried about your retirement and want to protect your golden years, then this is a MUST READ. [CLICK HERE to learn more about Bob Carlson’s]( Social Security Check.]( To Your Wealth, The Wealth Whisperer Team About Us: Eagle Financial Publications is located in Washington, D.C. – only a few blocks from the Capitol. Our products have been helping investors build their wealth for several decades. Whether you’re a long-term investor or short-term trader, you’ll find the right strategy for you, including how to earn more steady income to spend now, preserve and grow your capital to enjoy later, and whatever other investment goals you have. Visit Our Websites: - [StockInvestor.com]( - [DividendInvestor.com]( - [BryanPerryInvesting.com]( - [JimWoodsInvesting.com]( - [MarkSkousen.com]( - [GilderReport.com]( - [RetirementWatch.com]( - [Investment House]( - [Senior Resource]( - [DayTradeSPY.com]( - [Visit our YouTube Channel — Eagle Investing Network]( To ensure future delivery of Eagle Financial Publications emails please add financial@info2.eaglefinancialpublications.com to your address book or contact list. View this email in your [web browser](. This email was sent to {EMAIL} because you are subscribed to Wealth Whisperer. To unsubscribe please click [here](. If you have questions, please send them to [Customer Service](mailto:customerservice@eaglefinancialpublications.com). Legal Disclaimer: Any and all communications from Eagle Products, LLC. employees should not be considered advice on finances. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized advice on finances. Eagle Financial Publications - Eagle Products, LLC. - a Salem Communications Holding Company 122 C Street NW, Suite 515 | Washington, D.C. 20001 [Link](