Gen Yers Get Cheated on Social Security

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Business - Financial - Arbor Books

Release Date: January 15, 2008

Gen Yers Get Cheated on Social Security

By Arbor Books
January 15, 2008

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There may not be enough Social Security available in the future for Gen Yers.

PR9.NET January 15, 2008 - MINNEAPOLIS, MN - There is an ongoing political debate as to how much Social Security there will be for Gen Yers in the next five to ten years. President Bush openly expressed that the entire system could be exhausted by the year 2042.

That reality makes Jessie Conners' blood boil. Ms. Conners, former Apprentice and author of Nightmare Nation: Redefining the Pursuit of the American Dream, addresses the future status of Social Security for Gen Yers.

A report by www.cnnmoney.com states that America has shown a negative savings rate for the past nineteen months, which means American consumers are spending more money than they are taking home after taxes.

"New reports have shown that the savings rate was already at a negative 0.6 percent in past months," the report states, "which means the common American spent $100.60 for every $100 they brought home. It is impossible to save under these conditions."

Recently, the IRS started allowing tax refund splitting, which lets taxpayer's direct part of their refunds into "money to save" and "money to spend." This plan aims to help Americans save for their futures.

"Economic experts have been predicting that the next economic crisis will center solely on consumer credit card debt, although many people believe we are in the midst of the crisis now," says Ms. Conners. "But if borrowing from our retirement continues to evolve, the long-term consequences of the present economic turmoil won't be felt for years or even decades."

According to Demos, in the past seventeen years, overall credit card debt for Americans grew by 315 percent.

Inspired by these statistics, Ms. Conners felt compelled to write Nightmare Nation to instruct readers on how to:
• Get out of debt.
• Create other sources of income.
• Change their attitudes toward saving money.
• Set up retirement accounts now, no matter what their ages.
• Invest! Find reliable advisors and make plans.

Ms. Conners has made countless television appearances, including Oprah, CNBC and The Today Show, and was recently interviewed by Chuck Jaffe of Your Money Radio. She also has upcoming interviews scheduled with WOCM-FM.

Jessie Conners works as a nationally acclaimed keynote speaker and appears at over 300 events a year. Currently a real estate broker, she started her own marketing firm at seventeen years old and began investing in real estate at nineteen.

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Gen Yers Get Cheated on Social Security

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About Arbor Books

ARBOR BOOKS , Inc. (" ABI ") is the world's premier, award-winning ghostwriting and self publishing company. We have appeared in The New York Times, The Robb Report, Worth Magazine, Writer's Digest, Newsday and The New York Daily News . We've conducted seminars on self-publishing services and ghost writing at major universities and America Online.