Facing reality when you under 50.
How many of the people out there under age 50 are planning for their post work lives without social security in the equation? More personal responsibility and self reliance is required because fed entitlement will not survive. It’s not about politics it’s math.
How can this Ponzi scheme maintain based on some of the reasons below?
Based on:
demographics changes(baby boomers retiring en masse)
people living longer due to medical advancements
low birth rates(immigration will not solve the issue because the reduction in the need for Labor is happening)
erosion of income based taxes
2
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4 comments
Feel free to reply to any comment by clicking the "Reply" button.I know that I paid my share, and I worry about SS going broke.
Leutrelle
Level 7
May 19, 2018
0
@Davidthinks There must be a solution.
You telling me that all money contributed plus interest will be given to me right Now? Because social security is not a gift or entitlement!!!! By the way SS is the smallest of my 3 pensions... TOO LATE GENIUS!!!
GipsyOfNewSpain
Level 9
May 19, 2018
0
Right on, Davidthinks. Even if SS is still here, it doesn't pay much. We should be planning for its demise as you suggest. If it's still here, then that's a bonus. People listen up...get with a reputable financial advisor and develop a plan for retirement. Even if you haven't started, begin right now. Also, he/she should not charge you for a review including your risk tolerance. Research their background on "FINRA Broker Check" via google.
SamHarrisFan
Level 6
May 19, 2018
0
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