Wednesday, January 1, 2025
Social security part 3
Starting January 1, 2026 every one who turns 25 years old will have their social security money invested in a private account similar to the federal employees saving account (TSP). Every year there after all people on their 25th birthday will be automatically enrolled in the TSP. This money like social security must be withheld and cannot be touched for any reason until age 62 or later. At that time they can withdraw all or part of the fund or allow it to remain and just live off the interest. The government will have been relieved of the responsibility of financing social security and there will no longer be any discrimination against Blacks. For most people this will mean a large transfer of wealth from one generation to another and in time could build up to a sizable estate.
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