Retire Early? Maybe Not. Social Security’s Woes

The biggest mistake that people are making is that they are counting on it and it may not be there. Social Security and Medicaid Medicare updated their go-broke dates today. It's 2036 for Medicare and 2035 for Social Security.

Our nation is already broke to the tune of 35 trillion and adding 1 trillion dollars in debt every 100 days, so how are they going to save it? People aren't disciplined enough to save for themselves.

The Social Security Act was signed in 1935, and that's the day it went bad. The average lifespan at the time was 59. In 2020, it was 78. People then kept working until they died, not now.

They have added so many other benefits in that plan we can't keep up. Including Medicare that was added in 1965. Benefits for single moms and disabilities, etc. The list goes on and on and strayed away from its original intent to help supplement a person's income in their final years.

There is no fix for a program this large and it's such a political tool now it will never be fixed. We will see a huge correction someday and a huge crash in the future and nothing will be left. Irresponsible people in D.C. over the last 90 years have put us in this predicament. They could take all the money that our entire economy produces and it won't get us out of this hole.

There is already a 200 trillion dollar future unfunded liability our children and grandchildren will face. It's so ugly and we keep pushing it down the road. We're bankrupt and broke and no one cares. Better get your ducks in a row...

See ya tomorrow at 5.