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Ender current law, even Bill Gates will one day be eligible for Social Security. There is currently no means test for Social Security. You do not have to be poor to receive a benefit. Even very rich people can and do collect Social Security. If there were a means test, people with higher levels of income or assets might receive little or no benefits until such time as their income and assets were depleted to a stipulated amount. In your lifetime, there will likely be a means test applicable to your receiving retirement benefits. As a financially independent person, you need to be prepared to support yourself in case you are not eligible to receive much from Social Security when you retire. Social Security is a pay-as-you-go plan so as costs rise taxes must also rise. Social Sccurity did run a surplus for many years which ended up in the US Treasury’s general fund. The government literally borrowed all the excess funds and left behind US Treasury Notes. Now, those notes are being sold to raise money to pay for rising benefits. The result is that the surplus is being sharply reduced each year. The good news about Social Security is, if you end up ncarly broke you will probably collect enough money to keep you going month-to-month. The bad news is, as a middle-to-high income earner, you will probably pay a lot of money for benefits you may never qualify to receive. Politicians find it difficult to take action. Senior citizens vote in large numbers and fear reductions in their benefits. For most, Social Security and Medicare are their lifelines and they cannot afford a cut in benefits or an increase in cost. With 78 million “boomers™ heading toward retirement, Social Security is spending more than it takes in. It’s ahead of previous deficit estimates. Its reserves will likely be gone by 2030. When politicians will deal with reality is unknown. Do not count on it! Like the Federal government, many other employers, both public and private, can no longer afford the pensions and health care retirement benefits promised to their employees. Many people may not get what they counted on. Among these are airline employees, auto workers, and city workers who were victims of bankruptcy. How would you feel if you worked for 40 years and found out that your promised pension was not going to materialize?