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While our government sinks ever deeper into debt it would be wise to prepare for your golden years with the added insurance of an investment in gold coins.

January 10, 2011 – While our government sinks ever deeper into debt it would be wise to prepare for your golden years with the added insurance of an investment in gold coins. Chances are you will not be getting much help from the government.

We all know how Social Security is running out of money, and with 78 million baby boomers lining up for benefits it will get a lot worse fast. One commonly expressed argument puts the blame on unreasonable increases in benefits. But since 1980, when the government started fudging the CPI, the cost of living adjustment to Social Security has failed to come even close to matching the loss of purchasing power. Since 2000 the COLAs have increased payments by 27% while according www.Shadowstats.com the true cost of living has doubled. Just as interesting, from 2000 to 2010 the over 65 population actually decreased slightly.

While the reason for the state of Social Security may be open to debate, there is no question about Medicare, which according to Geoff Colvin of Fortune Magazine is underfunded by $34 trillion. It is easy to see why. Over the past 20 years medical expenses have increased at double the rate of the CPI and hospital expenses have risen at more than triple the CPI. The problem is compounded by Americans living longer. From 2000 to 2010 the proportion of the population over 75 has risen 11%, necessitating more frequent and costly medical care.

The problem is just another case of the government digging a hole too deep to climb out of, one more product of decades fiscal recklessness. The younger you are, the less likely you are to see any benefit from your Social Security and Medicare taxes. Fortunately you also have more time to accumulate wealth in gold coin investments that will keep pace with the true cost of living increases.

Kevin Johnson

Senior Staff Writer – GoldCoin.net

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