A Man’s Best Bet in Retirement

By Andy Snyder, Founder, Manward Press

Retirement Planning

Editor’s Note: Every back-slapping good old boy in Washington has his own ideas about what it’ll take to fix Social Security. Some propose a complete overhaul of the system. Others think it should be totally abolished – that we should start over from scratch. Whatever happens, one thing is certain: Millions of folks who rely on the system will get left out in the cold.

Can you skirt the chaos? Manward Digest founder Andy Snyder says you can… if you understand and apply one very simple lesson. Find out what it is below. And if you want to learn how Andy’s line of thinking can make you a richer, happier, healthier man, click here to subscribe to Manward Digest.

We’ve been scratching our balding heads more than usual lately. We’re once again wrestling with a question that’s plagued modern man for a couple of generations now.

We wonder when men should rely on other men. Specifically, though, we’re wondering about our money.

Sadly, it’s a question that may soon get answered.

Should we rely on others to provide our financial needs – even after we clock out of the working world for the last time?

Should we relax, knowing the check is in the mail?

For most, there’s no question. They must rely on others.

That’s the way our system is set up. We pay into America’s Social Security program, and then we pull from it if we’re lucky enough to survive to the magical age.

The majority of Americans rely on this program. The problem is… it’s broken.

Nothing new there.

But we’re once again scratching our heads because we sniff some change in the wind. And if our noses are right, big money is on the line – perhaps it’s your money.

The Foul-Smelling Winds of Change

Here’s the deal: The nation’s Social Security system is a mathematical anomaly. The numbers don’t add up… and yet the program lives on.

But what few folks realize (or care to admit) is we just elected the guy who could fix it.

Unfortunately, the fix will be painful.

It’s gonna hurt.

Sure, there are plenty of ways to fix the problem. All of them could help ail the country’s fiscal woes. But all will take money out of the pocket of somebody. It’s the economic and political tough love we’ve put off for so long.

But, like the stepchild playing with matches behind the barn because it will get him some attention, didn’t we elect Trump because we desperately want some tough love?

Yes, sir. We did.

Interestingly, one of Trump’s most doable campaign promises is his plan to cut income taxes for the poor and middle class. If he gets his way, couples earning less than $50,000 per year will pay no income tax.

It’s an idea that surely got him some votes.

It’s huge news for Social Security recipients. After all, folks relying only on Uncle Sam’s paycheck still owe taxes on that money. This takes a big chunk out of their checks.

But those taxes, few people realize, are what keep the program going.

Right now, the tax on Social Security income is responsible for more than 6.5% of all money that’s paid out. Soon enough, the number will rise to close to 10%.

No Good Deed Goes Unpunished

If Trump gets his tax cuts, dare we say it, the viability of Social Security will also get cut. The system is simply too imbalanced to take that type of hit to its revenue stream.

The thought of Social Security’s demise is quite troubling.

It’s why we shouldn’t rely on anybody but ourselves.

But if Trump’s tax plans do become reality, the Social Security program must change. Fortunately, Trump knows the right guy. During his time as a politician in Indiana, the VP-elect was staunch in his fight to reform America’s most relied-on income program (note that I didn’t use “entitlement program”).

Pence has been called the nation’s “chief cheerleader” for privatizing Social Security.

If he can get it done – and there’s no reason to believe he won’t make it his hallmark agenda item as VP and president of the Senate – it may very well save the beloved program.

But, as more of that tough love we want so badly, it will be quite painful in the interim.

Countless retirees who planned on the income will not get what they planned for.

There could be means testing, lower payouts, reduced COLA increases and a higher minimum age.

It will hurt. But that’s what it means to be a true fiscal conservative… something this nation hasn’t seen in quite a while.

But here’s the deal: America’s votes made it clear it’s done kicking the can down the road. But that’s the easy part. Will it now endure the pain? Will it still want change once it knows what pain it stirs?

History – even very recent history – tells us the answer is no.

And that means a program so many rely on is in big trouble. It means the folks who rely on others for their income and for their financial well-being are in trouble.

It’s a staunch reminder that we’re on our own… that man mustn’t rely on man.

We must rely on ourselves – especially when it comes to our money.

Be well,