WARNING: Medicare Depleted in 2026: Social Security Depleted in 2034? Now What?

This is a very important article.

Millions of people currently rely on social security to survive. Without it, they couldn’t pay their bills. This article says the following:

The new projections in the annual Social Security and Medicare trustees reports indicate that Social Security’s massive trust fund will be unable to pay full benefits in 2034 instead of last year’s estimated exhaustion date of 2035. For the first time in 39 years the cost of delivering benefits will exceed the program’s total income from payroll tax collections and interest during this year. From here on, Social Security will be tapping its savings to pay full benefits.

Read the article HERE.

Personally, I think it will be exhausted sooner than that. It’s not like we have a full workforce to pay into social security for Baby Boomers. Look at all the “help wanted” signs everywhere. People aren’t working. To make matters worse, many jobs are low paying jobs where many people are only working part time.

The End of Medicare?

The article also snuck another bit of important info in there:

“The depletion date for Medicare’s trust fund for inpatient care remained unchanged from last year, estimated in 2026.”

2026? We’re almost in 2022.

Here’s more information:

The Medicare Hospital Insurance Trust Fund will have sufficient funds to pay full benefits until 2026, according to the latest annual report released Aug. 31 by the Medicare Board of Trustees. That’s unchanged from last year’s report. The HI Fund, known as Medicare Part A, helps pay for inpatient hospital services, hospice care, and skilled nursing facility and home health services following hospital stays.

Read more HERE.
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Are we near the end of Medicare?

What does the Medicare Trust Fund do?

“The HI Fund, known as Medicare Part A, helps pay for inpatient hospital services, hospice care, and skilled nursing facility and home health services following hospital stays.”

These are two HUGE stories that people really need to be aware of.

A Sense of Urgency

A 401k is NOT enough. The stock market is due a MAJOR CORRECTION, and this correction will take YEARS to recover from. If all your money is in the stock market, this could be devastating.

This is another reason savvy investors buy gold and silver. This is real money, but we’re not taught about in in schools.

And I also think Medicare will be exhausted BEFORE 2026.

How will you spend your golden years?

NOW is the time to start working on generating multiple streams of income and passive income. Pretty soon, the government will NOT be able to help us.

The average person relies on their paycheck to pay all their bills and maintain their standard of living. This is a mistake. Ask yourself the following questions:

  • What if you lose your job?
  • What if you can’t work?
  • What if things get more expensive (inflation) and your pay doesn’t increase along with rising costs?

These are all realistic scenarios. In addition, once people retire, they rely on their savings and social security to survive. But social security will be gone in 2034 (or sooner.) What’s the plan of action?

Top sources of multiple streams of income include the following:

  • Rental property
  • Vending machines
  • Royalties/books/publishing
  • Franchises
  • Monetized websites/social media
  • Online courses
  • Small business
  • Dividend paying stocks/mutual funds

Currently, most people are focused on covid, and a war is waging between the vaxxed and unvaxxed. While this is going on, many of them aren’t paying attention to stories like this. Yes, covid is important, but we can’t focus all our attention on someone’s vaccination status.

Mainstream media can’t focus on all the important news stories simultaneously. This means you must get information from various sources. This can help you stay well-rounded and aware of other news stories that are of importance. It can also help you prepare for various events as necessary.

This type of information is not discussed in school either, but could be very beneficial for young people.

Download a free copy of my book Planting Seeds: The Children’s Guide to Entrepreneurship HERE.

Multiple streams of income and passive income streams can take time to develop. The time to start working on them is now.

Discover how to generate passive income today. Register for my online course Tired of the 9-5? How to Retire Early With Passive Income. Available on Udemy.

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