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More Enlightenment on Social Security for the Home Business Owner

by Mary Emma Allen on February 1st, 2008


I discussed Social Security here earlier in the month, Social Security & the Home Business Owner - What Should We Do?, and at Social Security Follow-up.

Bob Turek, my partner in this partnering at the b5 Business Channel discussed Counting on Social Security? Your Next Project Better Be Your Retirement Plan.

Now, to add more information to the Social Security issue and why we’re in the situation it is…the possibility of it running out in the next few years, Ren Garcia, at Accounting Solver discusses, Accounting for the Capacity of Social Security to Meet Payments. Perhaps we should say, the “incapacity” to meet payments.

Ren mentions three of the main reasons why this is happening:

  • People are living longer
  • Fewer children being born
  • Lower earning from Social Security’s investments

Then he introduces one solution he also mentioned in the comments of my post…that of families helping older families.

  • Do you have any comments, suggestions or solutions to the Social Security dilemma?

(c) 2008 Mary Emma Allen

Tags: , accounting, , ,

POSTED IN: Finances & Money

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