The Beginning to the End of Social Security

The idea that the State should care for us and our retirement more than we ourselves care about our retirement is slowly coming to an end; thankfully.

For many folks, Social Security has become “Retirement”.  They plan on it, rely on it and use it as their only means of income after retirement.  And THAT’S a mistake.  Both for the individual and for the government.

Individually, we need to plan our own retirement and manage it to its fullest potential.  And the State, well, the State simply can’t afford it any longer.

The wave of the future is taking place in the States:

State governments, one of the last bastions of guaranteed pensions, are increasingly taking a page from the 401(k) plans that dominate the private sector.

Some new state workers in Michigan and Utah will soon begin to receive part of their retirement benefits from a 401(k)-type plan, after lawmakers there recently voted to adopt plans that combine a 401(k) component with a guaranteed benefit.

This is GREAT news!  On 3 fronts


The new plans shift more responsibility for funding retirement benefits to employees


These hybrid plans are a cost-cutting measure for states seeking to pare back the guaranteed-retirement payments


This is a model to use to replace Social Security


some say, could make government jobs less attractive

Okay, that’s four, I gave ya the last one for free.

While it certainly is going to be awhile in coming, this is refreshing news!

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