Why You Have No Reason to Count on Social Security
If you’re counting on the federal government to take care of your retirement, you really need to watch this video.
This presentation by PragerU features Chris Hogan, a financial expert and author of “Retire Inspired. In it, he explains the weaknesses of the Social Security program so viewers will understand that they can’t rely on this program to provide for them during retirement.
He begins by discussing the reasons Social Security cannot provide for today’s retirees, including the change in lifespans in the United States, as well as the decrease in the ratio of workers paying into the system to individuals drawing Social Security payments.
He goes on to explain that, even if Social Security were not going bankrupt, it still would not be able to provide a comfortable lifestyle for beneficiaries during retirement.
After explaining the failings of Social Security, Hogan explains that many un-retired Baby Boomers are not planning for retirement and instead intend to rely on Social Security. He explains that this is not a solid retirement strategy. H
e wraps up the video by offering several tips individuals and families can use to plan for their retirement and ensure that they have the money they need to live comfortably without the help of Social Security.
~ Liberty Video News