On its 80th birthday, here are 30 things you probably didn't know about Social Security.

America’s Social Security program is turning 80 years old this year, but some believe it’s somewhat of an auspicious anniversary, more reason for caution and nail-biting than celebration. But no matter if you love it or lump it, there is no debating that Social Security has been one of the single most significant, ambitious, and helpful government programs in the history of the world. And while the particulars of Social Security are covered ad nauseam in other financial articles and guides, we thought we’d cover 30 things you probably didn’t know about 80-year old Social Security.

Happy birthday!

1.  On August 14, 1935, President Franklin Delano Roosevelt signed the Social Security Act that made the Social Security program law.

2.  The program was founded because so many Americans had just lost all of their assets and savings in the Great Depression, leaving them nothing for retirement.

3.  80 years later, 165 million workers are currently covered under Social Security, including 46.6 million seniors age 65 or older.

4.  And about 60 million Americans currently receive Social Security benefits, adding up to $863 billion of payouts.

5.  To put it in perspective, that amount is the largest item on our federal budget and accounts for about a quarter of all spending.

6.  Within the next two decades, the number of SS beneficiaries should grow to 90 million.

7.  Compare the huge number of Social Security retirees today to the program’s first year of benefit payouts, 1940, when only 220,000 Americans were signed up.

8.  In fact, Social Security's first beneficiary was a woman named Ida May Fuller from Ludlow, Vermont, who received monthly payments of $22.54 a month for 35 years.

9.  FDR’s original Social Security program only paid benefits to retired workers. But later on, the program was expanded to offer disability benefits and payments for a beneficiary's spouse and children for widows and widowers.

10. The average monthly payment for SS benefits now is $1,221, or $14,700 a year.

11. Since Social Security first collected tax contributions in 1937, it’s collected more than $13 trillion in income and paid our $10.6 trillion, as of 2007.

12. That amount of money that flows in and out of Social Security is so enormous that each year, it manages more money than the economies of all but the 16 richest countries in the world!

13. Each day, 182,000 people visit Social Security offices, and 445,000 people call the Social Security Administration.

14. Just last year, there were 17 million applications to replace lost, damaged, or stolen original Social Security cards!

15. 2010 was the first year that Social Security disbursements outpaced its income, if you don’t count interest on trust-fund assets. Even factoring in that interest, disbursements should outpace income by 2021, and that interest is expected to be completely exhausted by 2033.

16. Only 8% of American workers are very confident and only 24% somewhat confident that Social Security will continue to provide benefits of at least equal value to today’s retirees and recipients.

17. 33% of today’s workers say that Social Security will be a major source of income when they retire, compared to 46% who say it will only be a minor source of income and 20% who say they won’t count on it for income at all.

18. Today, the average retiree gets 12 more years of Social Security benefits than a person did in 1940 due to the fact that we’re living longer AND retiring earlier (an average age of 64 instead of 68 in 1950.)

19. And while Social Security is still the largest source of income for Americans over 65, only one in three people depend on it to cover 90 percent.

20. Thanks to the increase in elder Americans (Baby Boomers), the Recession’s impact on stagnating wages, and a larger population receiving benefits, there are less than three workers paying into Social Security for every one retiree eligible for a payout.

21. That’s a sharp drop from 2009, when there were 3 workers per retiree, and 1960, when there were 5 workers paying into the system for ever person collecting a check.

22. In fact, 75 million Americans are on the cusp of retirement and being eligible for Social Security payouts, as each day, 10,000 more people turn 65 and the oldest of the Baby Boomers generation turn 68 this year.

23. Each American citizen is assigned a Social Security number, shortly after birth since 1989. But many people don’t realize that those 9-digit combinations are not random. In fact, the first three digits are based on the geographic region you were born in, with lower numbers in the Northeast and higher numbers in the West. The middle two numbers are called the group number and issued in nonconsecutive order between 01 and 99. Meanwhile, the last four digits are issued sequentially. So far, there have been 420 million unique Social Security numbers that aren’t being reused after the person’s death.

24. To save money, Social Security is phasing out paper checks. It actually costs them $1 to mail out each paper check, while electronic deposits and transfers only cost 1/10^th of that. Does it sound like small change? In fact, going paperless is expected to save taxpayers $300 million over the next five years!

25. The Social Security Administration is in dire straights, both financially and operationally. In fact, over the past three years, the SSA has lost 11,000 employees, about 12% of its workforce, and by 2022, about 60% of its supervisors will be able to retire. Additional budget cuts have forced 44 field offices to consolidate, 503 mobile contact stations to close, and eight new hearing offices to be suspended. Even call centers are under siege, with average wait times when someone calls in now over 10 minutes, when it used to be only 5 minutes as recently as 2012.

26. The struggles of Social Security have been so well documented that we could easily write another book about its impending financial hardship. But basically, by 2016, the trust fund that supports Social Security’s disability payments is expected to be empty. If (when) that happens, the 11 million people who now receive Social Security disability payments will see an automatic 19 percent cut in benefits.

27. The math gets even scarier when you consider that over the next 75 years, Social Security is projected to payout $159 trillion MORE in benefits than it collects in taxes.

28. If we adjusted that number for future inflation, that means our Social Security program will be underfunded by about $35.3 trillion in 2015 dollars. Just how big of a gap is that? $35.3 trillion is TWICE the entire national debt!

29. It’s not a complete doom and gloom scenario, as Congress is already floating some ideas to remedy this shortfall and get Social Security back on track. However, solutions include increasing SS taxes, cutting benefits, and pushing back the retirement age – none of which are very popular with the American people.

30. But even a payroll tax increase of 1.3 percent, benefit cut of 16.2 percent, or any combination thereof, would right the projected Social Security deficit and allow the program to remain solvent for about another 80 years – in time for another birthday celebration.

Forget real estate, stock, and tech bubbles; the first market crash in history was Dutch tulips - Tulipmania.

In recent memory, we’ve seen market crashes and bubble bursts revolving around different commodities: stocks, real estate, technology, mortgages, and even the banking system, itself. The fear and panic from a market crash is downright horrifying, shaking the very foundation of our economy and belief in the system to serve the individual.

But has it always been that way? We can look as far back as the Great Depression in the United States as evidence that this phenomenon of an overinflated bubble meeting a sharp pin prick is not new, but was the stock market crash of the 1920s and 30s the first? Not even close.

In fact, you’ll probably be shocked to hear that the first speculative asset to skyrocket in value and then crash entirely was Dutch tulips. That’s not a typo – I really do mean Dutch tulips. In the 1600s, certain market and geographic factors (and a whole lot of greed and irrationality) saw the price of imported tulips climb so fast – even 1,000% in one month – that some rare bulbs were worth an entire luxury home. Only months later, that same rare tulip wasn’t worth more than a common flower, sending the Dutch economy reeling. The Dutch tulip market crash was such a profound historical event that they even had a name for it: “Tulpenwoede,” or tulip madness.

The buildup.

1593 Tulips were first introduced to the Dutch when traders from Turkey brought them across the seas to Europe. Legend has it that a Dutch ambassador working at the court of Suleiman the Magnificent in Constantinople, Turkey noticed the magnificent flowers and sent some to a Botanist friend in Holland.

The rich had already been in the practice of rampantly collecting luxury items from foreign shores at the time, from seashells to spices to artwork. 

When the Amsterdam stock exchange opened in 1602, bolstered by the Dutch East India Company, a thriving but informal future exchange market blossomed. Soon, flowers became a hot commodity, and among them, tulips were the most coveted.

But what probably launched the Tulipmania value explosion – and subsequent market crash – was a strange twist of fate. The tulip crops were infected with a non-fatal virus known as mosaic, which didn’t kill them, but changed their appearance, causing brilliant “flames” of color to appear on their petal.

All of a sudden, the already coveted flowers became rare and unique trophies for the rich. As a luxury item only available imported from Turkey, they had been selling at high prices before, but once the mosaic virus enlivened their appearance, the price shot up astronomically.

Cashing in on the new tulip craze, but by the 1630s, a few tulip brokerages had opened for business, most of them wealthy merchants in the same tight circle or even family.

The bubble inflates.

Although the supply of new tulips, and especially those with the beautiful mosaic defect, was limited, people clamored to get more as the ultimate status symbol – or means to a quick profit as prices always seemed to rise. When buyers and garden centers bought as many as humanly possible, it further limited supply, fed demand, and skyrocketed prices. Traders and merchants stocked inventories of tulips as fast as they could, with no consideration for cost.

"Neighbors seemed to talk to neighbors; colleagues with colleagues; shopkeepers, booksellers, bakers, and doctors with their clients gives one the sense of a community gripped, for a time, by this new fascination and enthralled by a sudden vision of its profitability," writes Anne Goldgar in "Tulipmania."

Soon, it seemed like everyone was dealing in tulips bulbs, and a huge secondary market emerged where people bet on their future price increases, buying and selling options, not just the flowers themselves. The common perception was that the market for these tulips had no ceiling, as they thought they could easily unload tulips to unwitting foreigners, so people started cashing in or trading their houses, land, life savings, or any other assets they owned to get their hands on more bulbs.

The craze was so out of hand that in the 1630s, a sailor was arrested and locked in a Dutch jail for eating a tulip bulb that he had thought was an onion. It was said that the mistake of eating the bulb was about the same cost as feeding his ship’s entire crew for a year!

Everyone wanted in on the tulip madness, and by 1637, values were shooting up twenty-fold every month.  And then, the bubble hit it’s ceiling over a one month period in 1637, when the price of Switsers, a popular tulip bulb, went up 1,100%, from 125 florins a pound to 1,500 a pound.

Quite possibly, the zenith of Tulipmania was February 5 of 1637, when a historic auction was held in the town of Aikmaar to raise money for orphaned children. The prized sellers at the auction were two varietals of tulips: a Viceroy that sold for $4,203 florins and an Admirael Van Enchuysen that sold for 5,200 forins. Just how much is 4,000 or 5,000 florins? It’s enough to buy a luxury home in Amsterdam at the time. The value of these tulips had reached the point of abject lunacy.

The bubble bursts.

No one is exactly sure what happened to cause the market to crash, seemingly overnight. Some think it was traced to economic irregularities due to the Black Plague spread over Europe. Others think that the greed just hit its zenith, when people tried to sell their options and inventory more than keep buying. Or maybe someone just blinked, realizing the price increases and market craze was unsustainable. But all of a sudden, everyone wanted to sell. And the prices, which had been soaring exponentially every month, began to soften and then fall. The same mob mentality that drove the masses to buy and trade tulips out of greed turned to abject panic to get out.

Prices completely collapsed in February of 1637. Not only did people completely stop buying, but also the huge options and futures market that revolved around the tulip trade was exposed as a house of cards. At the blink of an eye, with no buyers and a herd of sellers looking to dump their tulips or promises to buy inventory in the coming season, sellers, insurers, merchants, and bulb traders went bankrupt.

The crash.

The ensuing crash was such an economic free fall for a good portion of the population that on April 27 of 1637, the Dutch government had to step to try to stabilize the Tulipmania fallout. The federal States-General issued a proclamation that laid out a process for arbitration for those who couldn’t pay their debts or were no longer willing or able to honor their contracts. They offered a solution of allowing people to honor contracts at only 10% of their face values, with local magistrates arbitrating, but even that didn’t help. The panic that swept the nation as people realized they’d cashed in their houses, businesses, life savings, etc. in order to buy simple flowers. No amount of government intervention would help, as people couldn’t even give away the once invaluable tulips and contracts to buy them.

The damage to the Dutch economy was total; even those prudent few people who weren’t involved with the tulip trade felt the impact of the ensuing national depression. For centuries, the aftershocks felt from Tulipmania kept the people, governments, and banks of Holland notoriously risk-averse. And even today, when they see a tulip, they think of something far different than just a beautiful flower.

The Alfano Group's special relationship with Granite Bay, California.

 We are proud to announce that Anthony Alfano of The Alfano Group recently won the award for Best Real Estate Agent from the 2015 Roseville Granite Bay Press Tribune’s Best of the Best Awards. It’s the second year in a row the Alfano team has won the award, as recognized by the California Legislature Assembly.

While there are many great real estate agents our there, part of the pursuit of excellence that earned us the Best Real Estate Agent award is an authentic knowledge and love of the communities we serve. And there is no better example than our respect and admiration for the community of Granite Bay, one of the most prestigious, desirable, and breathtakingly scenic places to live in all of California. We sell a whole lot of houses in Granite Bay and represent plenty of buyers who want to live there, but most importantly, we fully believe in that community and its residents.

Here is some basic information about our beloved Granite Bay:

Profile:

Granite Bay isn’t actually a city, but a census-designated place (CDP) in Placer County, California. With a total area of 21.6 square miles, it lies in the foothills only 25 miles from the Sacramento capital.

As of 2014, 22,204 residents call Granite Bay home, a rise of 13.67% since the 2000 census.

Granite Bay enjoys a reputation as one of the nicest communities to live in both California and the United States. In fact, it just ranked highly for:

Ranked #6 Best Cities for Teleworking - Large Metro Areas

Ranked #7 Healthiest Cities

Ranked #7 Best-Rested Cities 2011

Ranked #8 Least Stressful Cities 2012

History:

The community where Granite Bay now rests was first formed in the 1850s as a Gold Rush settlement, like many in the area. In fact, it was first known as “Granite Bar,” a mining and panning community just south of Horeshoe Bar. Roads were developed to connect the camps, and irrigation provided by the North Fork Ditch allowed workers to settle down in the area and start planting almond and olive orchards. By the 1950s, two large cattle ranches encompassed Granite Bay, enjoying its green pastoral hills and abundant water. Building of subdivisions like Granite Bay Vista started in the 1960s, but the area didn’t get its official name until July 28, 1987.

Granite Bay derives its name from both the area of water in adjoining Folsom Lake and its unique geological origins. In fact, the entire area sits on a foundation of granodiorite from the Cretaceous age. Fossils from ocean sediment dating back 80 million years have been discovered in Granite Bay, often during construction.

Affluence:

Granite Bay is one of the mist affluent communities in Sacramento and Northern California. The average household income is $160,578 and the median is $123,631, well above the U.S. household median of $51,393. The economy of Granite Bay is always thriving, providing a strong tax base for community improvements. The medical industry is the leading employer in the area, accounting for 2.3% of all jobs, with plenty of careers in finance, computer tech, and tech manufacturing.

However, living in Granite Bay comes with a high price tag, as it’s been named one of the 25 American cities in the nation with the highest cost of living, a whopping 97.9% higher than the U.S. average.

Real Estate and home ownership:

Granite Bay real estate is highly desirable, so homes sell quickly with stiff competition. The median home cost in Granite Bay is now $653,900. That’s still down from the high point when home values were well into the $700s during the boom. But the market has rebounded nicely, with 24.3% appreciation over the last year.

There are 7,694 households in Granite Bay, with 89.8% owned by the occupants, 12.1% rentals, and 4.1% vacant.

Granite Bay is a hot bed for luxury real estate and million dollar homes, with approximately 25% of all listings priced over $1,000,000 at any given time, and 1% over the $2,000,000 mark.

Education:

Granite Bay is one of the state’s highest performing districts for standardized test scores, with only one public high school, Granite Bay High. Residents of the community are extremely well educated on a whole, with 96.8% of all residents over 25 years old having earned their high school diploma or higher, 54.2 earning Bachelor’s degrees or more, and an impressive 23.5% achieving a graduate or doctoral degree.

Things to do and see:

There’s no shortage of recreational activities in Granite Bay. Quarry Ponds, Otow Orchards, Rickey Ranch Pumpkin Patch, local farmer’s markets, fun runs and races, and swimming or hiking at Folsom Lake provide weekend entertainment for the whole family. American River recreation will set you up for a day of rafting or kayaking, and golf enthusiasts can swing away to their heart’s content at the Sierra View Country Club or Granite Bay Golf Club.

Chez Daniel, Back Wine Bar and Bistro, Hawks, Vaiano Trattoria, Source, and Bernardos are just a few of the amazing fine dining establishments in Granite Bay.

Notable and famous Granite Bay residents:

Eddie Murphy – Actor and comedian

John Travolta and wife Kelly Preston - Actors.

Tobin Esperance - Bassist of band Papa Roach

Jeff Keith - Singer of band Tesla

Chris Webber - Retired Sacramento Kings power forward and center

Jason Williams - Orlando Magic, former Sacramento Kings point guard

Shareef Abdur-Rahim - retired National Basketball Association (NBA) player and current Assistant GM for the Sacramento Kings

Rick Adelman - former Sacramento Kings head coach

Dusty Baker - Cincinnati Reds Manager, former San Francisco Giants and Chicago Cubs manager and MLB player

Steve Cook - Former professional ten-pin bowler and member of the PBA Hall of Fame

Maureen Reagan - Daughter of Former President Ronald Reagan lived in Granite Bay until her passing

Summer Sanders - Multiple gold medalist in swimming at the 1992 Summer Olympics, TV Sports commentator and personality

Steve Sax - Retired MLB baseball player (primarily second baseman for the Los Angeles Dodgers, New York Yankees, Chicago White Sox, and Oakland Athletics)