BEWARE: Social insecurity

In the age of minimum payments, zero down and line of credit on everything our generation has been enslaved by the lie that the FICO lord is their index to affordability, financial success and that putting off until later is acceptable:

A recent report found two-thirds of American seniors rely on Social Security for the majority of their income and that it is the only thing standing between them and poverty.

How sad of a statistic but more sad is that our government offers no better choice than more bureaucracy and intrusion. Here is an alternative.

If at age 20 you decided to make an investment of a base amount of $5,000 into a good growth stock mutual fund with an average of 6 percent return (which is the tax rate employee income is levied at for SS) and invested $100 every month into it as an expense for 40 years, you would have $355,949 even after it’s adjusted for a 3 percent inflation rate.

Now if you were getting 12 percent return on your fund or funds over this period, the compound effect is huge! Like $2.1 million huge!

But the problem is that it is promoting the private sector with an emphasis on personal responsibility and financial discipline.

When are we as a nation going to wake up and take a stand? The projected date for Social Security to be syphoned is 2033. That’s insane.

Start now! Save to invest! Save for a future and a retirement and ability for a legacy! You decide your future with the decisions you make today!

The government will not ensure you financial stability but more like chaos and further sinking into the clenches of dependency.

It is up to you to start looking toward your future.

I am 21 years old and see a bright future for myself with the knowledge that slow and steady will triumph over any initial government program.

It’s time my generation look to their future and begin taking the steps needed to achieve their own financial goals.

SASHA FISHER

Coeur d’Alene