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Posts Tagged ‘social security in trouble’

The latest headlines, “Recession Hits Social Security Hard,” are just that, the latest headlines. We’ve all been reading for years of the trouble Social Security and Medicare are facing and that long term solutions should “start now”. I was in my twenty’s the first time I read about this – I only remember because I laughed, with a Murphy’s Law cynicism, the news predicted at that time it would run out the same year I turned 65.

I’m not laughing now. Since then I’ve learned that women only make 78 cents to the dollar a man makes and one of the biggest area that impacts women is their retirement years. It used to be thought (and still is depending upon whom you talk with), “that’s ok, a woman will live off her husband’s pension anyway.”  Given the current economy, one feels like asking, “what pension?” And if a woman is single, unless she started (or starts) financial planning early, well, let’s just say, YIKES!

So when years later, I hear that Social Security and its companion, Medicare, are in trouble, I hope that this time someone will listen. The fact that the recession has only added to its woes compounds the bigger issue of preparedness. And the impact on women extends to their families, for obvious reasons.

For decades, the government seems to have been ignoring its own warning signs. Just as equally, people haven’t been preparing enough. I hope the current government in Washington has the ability to not just put a band-aide on the wound, but to gather our community focus – government, corporations, small businesses, everyone of us – on solving the real issues now, for my future, for your future and for the next generations to come.

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