{"id":857,"date":"2010-12-31T20:36:46","date_gmt":"2010-12-31T20:36:46","guid":{"rendered":"http:\/\/henryalford.com\/?p=857"},"modified":"2010-12-31T20:54:07","modified_gmt":"2010-12-31T20:54:07","slug":"baby-busted","status":"publish","type":"post","link":"https:\/\/henryalford.com\/?p=857","title":{"rendered":"Baby Busted?"},"content":{"rendered":"<p>Over at the <a href=\"http:\/\/online.wsj.com\/article_email\/SB10001424052748704073804576023890972991846-lMyQjAxMTAwMDEwOTExNDkyWj.html\">Wall Street Journal<\/a>, Brett Arends is looking at the possible repercussions the extension of the Bush-era Tax Cuts will have on an nation full of aging baby boomers. With the new Tax Deal expected to tack another $900 billion on to the national debt, the US Government may have to make big slashes in spending to keep its head above water. And whenever the words &#8220;big&#8221; and &#8220;spending&#8221; come up, the conversation immediately turns to Social Security.<\/p>\n<p>If Social Security were axed, retiring Americans wanting to ensure that they won&#8217;t outlive their savings would have to purchase their own annual income\u00a0annuities\u00a0from private insurers to replace the\u00a0monthly\u00a0check they would typically\u00a0receive\u00a0from Uncle Sam.<\/p>\n<p>A cool $128,000 can buy a 66-year-old man an annuity with a yearly income of $10,000. However, &#8220;only a third [of workers] have saved as much as $50,000,&#8221; which, if put into an annuity, would provide them with a salary of $54 a week.<\/p>\n<p>Arends&#8217;s advice? Save up. &#8220;Starting about 20 years ago.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over at the Wall Street Journal, Brett Arends is looking at the possible repercussions the extension of the Bush-era Tax Cuts will have on an nation full of aging baby boomers. With the new Tax Deal expected to tack another $900 billion on to the national debt, the US Government may have to make big [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-857","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/henryalford.com\/index.php?rest_route=\/wp\/v2\/posts\/857"}],"collection":[{"href":"https:\/\/henryalford.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/henryalford.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/henryalford.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/henryalford.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=857"}],"version-history":[{"count":5,"href":"https:\/\/henryalford.com\/index.php?rest_route=\/wp\/v2\/posts\/857\/revisions"}],"predecessor-version":[{"id":862,"href":"https:\/\/henryalford.com\/index.php?rest_route=\/wp\/v2\/posts\/857\/revisions\/862"}],"wp:attachment":[{"href":"https:\/\/henryalford.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/henryalford.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/henryalford.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}