I understand providing for our own future, a fact not encouraged in my early working career. So, 45 years later and 10 years into retirement, I feel an entitlement from a fund into which I paid.
When Social Security was instituted, companies had no retirement programs. It began as a protected, self-sustaining pot of money. The pot grew. Politicians greedily eyed it and made it available for borrowing funds, to be repaid. They haven’t, and they try to convince us that Social Security is a gift that, in the near future, they will no longer be able to sustain. Government, not retirees, depleted this account.
Of a 2 percent cost-of-living adjustment ($33), $29 went to Medicare, $4 to me. I pay Medicare and for secondary insurance through my company. I’m not on Medicaid, and out-of-pocket expenses for 2017 were $4,350.
So, I spread $4 across raises in living expenses through a set budget and no credit-card debt. I do my part. Why isn’t my government?