Massachusetts Retirement
Soon, SSDI Will Go Bankrupt
By 2005, the Social Security Disability Insurance (SSDI) fund was cashing checks its tax body could not money. That trend has continued each year – plus the number of Social Security beneficiaries grew by 489,488 last year, the highest one-year increase in history. In accordance with the Wall Street Journal, Social Security Disability Insurance could be empty in 7 years or fewer. Article source – Social Security Disability Insurance may go dry in 4 years by MoneyBlogNewz.
Paying out $22 billion more than it makes with Social Security
Social Security may have spent $153 billion in benefits by 2015. That’s $22 billion more than it is anticipated to take in, underscoring a problem that many Americans will soon face. The Social Security retirement fund is anticipated to last until 2040 while Medicare is only anticipated to last until 2029. SSDI can only be kept around for over 7 years without change from the Federal government.
Applicants more than Social Security can deal with
The Social Security program got more applicants than normal with the recession. The number of individuals on Social Security changed from 6.6 million to 10.2 million in just the last 10 years. Numerous United States and territories depend upon SSDI funds. There has been a lot of growth in enrollment in both Texas and New Hampshire. In New Hampshire there was a 69 percent growth, and in Texas, the growth was at 85 percent. Measuring the amount of Social Security Disability Insurance a state gets is done with the percentage of total population that has it. In this way, West Virginia gets more SSDI than any state. There are issues that agriculture and manufacturing states are facing. Manual labor health troubles have been increasing. U.S. territories like Puerto Rico heavily depend upon Social Security, considering the rash of factory and military base closures in recent years. Also, the states have lots of unemployed. Typically these are some of the highest numbers reported. In the case of Puerto Rico, political corruption is also an issue.
SSDI what a doctor decides
Unlike age-based programs like Medicare and Social Security retirement benefits, Social Security Disability Insurance is closely tied to medical opinion. As someone else pays the bills, local medical officials don’t have the instant incentive to keep enrollment numbers down. While SSDI benefits could be modest in scope – payments averaged $1,064 per month in 2009 – participants gain access to other government benefits, which increases the cost for taxpayers. About $300,000 per person in these benefits with the additional programs are paid out to regular Social Security Disability Insurance patients, according to Massachusetts Institute of Technology’s SSDI expert David Autor.
Chances of higher taxes occurring
Increasing the Social Security fund would be the only way to conserve SSDI without increasing taxes. This would drain away retirement funds, forcing retirees to swallow benefit cuts faster than they would have otherwise. However, as Nancy Altman of the activist group Social Security Works contends, something must be done.
“This is a program of crucial importance to every working American and his or her family,” she said.
Citations
Social Security Online
ssa.gov/disability/
Wall Street Journal
online.wsj.com/article/SB10001424052748703752404576178570674769318.html
Milton Friedman on Social Security: Save your money
youtube.com/watch?v=rCdgv7n9xCY
|
|
How to Start a Home-Based Senior Care Business: *Develop a winning business plan *Market your unique services to families *Create a fee structure … care manager (Home-Based Business Series) $8.53 How to Start a Senior Care Business shows how to start and run a profitable, ethical, and satisfying home-based business in the field of senior care. The book covers the range of senior care businesses that are increasingly in demand today…. |
|
|
Retirement on the Line: Age, Work, and Value in an American Factory $18.50 In an era when people live longer and want (or need) to work past the traditional retirement age, the Vita Needle Company of Needham, Massachusetts, provides inspiration and important lessons about the value of older workers. Vita Needle is a family-owned factory that was founded in 1932 and makes needles, stainless steel tubing and pipes, and custom fabricated parts. As part of its unusual busine… |
|
|
Year By the Sea $37.40 Minimal shelf wear to cover. All pages intact and clean. Binding is tight. SHIPS IN 24 HOURS OR LESS!… |
|
|
Retirement $49.99 Diana Ong Retirement – Giclee Print |
|
|
Massachusetts $21.99 Massachusetts – T-Shirt |
|
|
In Massachusetts $39.99 Wolf Kahn In Massachusetts – Giclee Print |
|
|
Retirement Certificate $49.99 Retirement Certificate – Giclee Print |
|
|
On Retirement $14.96 This book is in New – Excellent condition |
|
|
9′ Retirement Jointed Banner $3.99 9′ Retirement Jointed Banner |
|
|
Birthday / Retirement Stripes Centerpiece $4.99 Birthday / Retirement Stripes Centerpiece |
|
|
Retirement Retirement gift ideas Rectangle Magnet by CafePress $5 Retirement Gift Ideas, Funny Retirement Shirts, Retirement T-shirt, Retirement Presents, Retirement Tee, Retirement Present, Retirement Shirt, Retirement Gifts, Retirement mugs, Retirement Buttons Retirement gift ideas Rectangle Magnet Add instant style to lockers, dorm rooms, workspace or the fridge while keeping your notes and reminders in view with an attention-grabbing Rectangle Magnet. Measures 2.125 x 3.125. Metal shell. Mylar/UV protecting cover. |
|
|
Retirement Retirement gift ideas Mug by CafePress $15 Retirement Gift Ideas, Funny Retirement Shirts, Retirement T-shirt, Retirement Presents, Retirement Tee, Retirement Present, Retirement Shirt, Retirement Gifts, Retirement mugs, Retirement Buttons Retirement gift ideas Mug The perfect size for your favorite morning beverage or late night brew. Large, easy-grip handle. Treat yourself or give as a gift to someone special. Measures 3.75 tall, 3 diameter. Dishwasher and microwave safe. |
|
|
Retirement Retirement gift ideas Throw Pillow by CafePress $20 Retirement Gift Ideas, Funny Retirement Shirts, Retirement T-shirt, Retirement Presents, Retirement Tee, Retirement Present, Retirement Shirt, Retirement Gifts, Retirement mugs, Retirement Buttons Retirement gift ideas Throw Pillow Add stylish fun to any room with our roomy Throw Pillow. It measures a sprawling 18 X 18 with an 11 X 11 image area so you can lounge in comfort. It’s made of ultra-soft brushed twill with a sturdy canvas image area. Ships with pil |
|
|
Retirement Retirement gift ideas Cap by CafePress $17 Retirement Gift Ideas, Funny Retirement Shirts, Retirement T-shirt, Retirement Presents, Retirement Tee, Retirement Present, Retirement Shirt, Retirement Gifts, Retirement mugs, Retirement Buttons Retirement gift ideas Cap . Our adjustable, 100% brushed cotton Cap is unstructured and an ideal way to beat the heat. Wear it anytime you want to keep the sun off or cover up a bad hair day. It features a sturdy low profile brim, sweatband, and adjustable closure, as well as Pre |
|
|
Retirement Retirement Cap by CafePress $17 Great gift idea for a retirement party, coworker, grandparent, or other senior. Retirement Cap . Our adjustable, 100% brushed cotton Cap is unstructured and an ideal way to beat the heat. Wear it anytime you want to keep the sun off or cover up a bad hair day. It features a sturdy low profile brim, sweatband, and adjustable closure, as well as Pre |
|
|
Retirement Time Clock $9.99 Includes (1) Retirement Time Clock |
|
|
Happy Retirement Confetti $1.99 Includes 0.5 oz. of retirement confetti. |
|
|
The Emperor Komei in Retirement $34.99 The Emperor Komei in Retirement – Giclee Print |
|
|
Massachusetts Institute of Technology Boston Massachusetts $19.99 Massachusetts Institute of Technology Boston Massachusetts – Premium Poster |
|
|
Retirement Retirement Mug by CafePress $15 The perfect size for your favorite morning beverage or late night brew. Large, easy-grip handle. Treat yourself or give as a gift to someone special. Measures 3.75 tall, 3 diameterDishwasher and microwave safe Retirement Mug The perfect size for your favorite morning beverage or late night brew. Large, easy-grip handle. Treat yourself or give as a gift to someone special. Measures 3.75 tall, 3 diameter. Dishwasher and microwave safe. |
|
|
Retirement Humor Sweatshirt by CafePress $39.5 Retirement Gift Ideas, Funny Retirement Shirts, Retirement T-shirt, Retirement Presents, Retirement Tee, Retirement Present, Retirement Shirt, Retirement Gifts, Retirement mugs, Retirement Buttons Humor Sweatshirt Tee, TShirt, Shirt Warm up in our stylin’ Hanes Heavyweight 90/10 cotton/polyester sweatshirt. Thick but not bulky, for maximum comfort and durability whether you’re working out or hanging out. 10.1 oz. patented PrintPro174; fabric in a 90/10 cotton/polyester |
|
|
Retirement Hobbies Sweatshirt by CafePress $39.5 Funny Retirement Shirts, Retirement T-shirt, Retirement Gift Ideas, Retirement Presents, Retirement Tee, Retirement Present, Retirement Shirt, Retirement Gifts, Retirement mugs, Retirement Buttons Hobbies Sweatshirt Tee, TShirt, Shirt Warm up in our stylin’ Hanes Heavyweight 90/10 cotton/polyester sweatshirt. Thick but not bulky, for maximum comfort and durability whether you’re working out or hanging out. 10.1 oz. patented PrintPro174; fabric in a 90/10 cotton/polyester |
|
|
Retirement Hobbies Cap by CafePress $17 Funny Retirement Shirts, Retirement T-shirt, Retirement Gift Ideas, Retirement Presents, Retirement Tee, Retirement Present, Retirement Shirt, Retirement Gifts, Retirement mugs, Retirement Buttons Hobbies Cap . Our adjustable, 100% brushed cotton Cap is unstructured and an ideal way to beat the heat. Wear it anytime you want to keep the sun off or cover up a bad hair day. It features a sturdy low profile brim, sweatband, and adjustable closure, as well as Pre |
|
|
Retirement Shirt Cap by CafePress $17 Funny Retirement Shirts, Retirement T-shirt, Retirement Gift Ideas, Retirement Presents, Retirement Tee, Retirement Present, Retirement Shirt, Retirement Gifts, Retirement mugs, Retirement Buttons Shirt Cap . Our adjustable, 100% brushed cotton Cap is unstructured and an ideal way to beat the heat. Wear it anytime you want to keep the sun off or cover up a bad hair day. It features a sturdy low profile brim, sweatband, and adjustable closure, as well as Pre |