Social Security Won’t Give You Security

If you’re counting on Social Security to
finance your retirement, you’re in for a big surprise—and not the good kind. Let me give you two reasons why. One: Social Security is going broke. And, two: Even if it weren’t going broke,
it couldn’t possibly cover the cost of a decent retirement. Let’s look at these two reasons in a little
more detail, and then I’ll propose a solution. Social Security is going broke. When this government program was set up in
1935, the average life expectancy was 60. But you couldn’t collect your first check
until you reached 65. In other words, most people didn’t live
long enough to receive Social Security. And most of those who did, didn’t collect
it for very long. Today, the average lifespan is 79. So now, most people do live long enough to
receive Social Security—for 10, or 20, or even 30 years. Here’s another important piece of information:
When the program started, the ratio between worker and retiree was 159 to 1. That means for every one person drawing benefits,
159 were paying in. Today the ratio is 2.8 to 1. You get that? We’ve gone from 159 workers supporting every
retired person to fewer than three workers supporting every retiree. And it’s going down. You don’t need an advanced math degree to
figure this one out: Social Security is spending more than it’s bringing in. Far more. Its own Board of Trustees has said that it
will be bankrupt within twenty years. That doesn’t mean it won’t exist. It means that either the government will pay
you less than it promised, or it will have to raise taxes to make up the shortfall. Most likely, both. Sounds about right for an entitlement program,
doesn’t it? Starts out small, but just keeps growing and
growing until it collapses under its own weight. But let’s indulge in a fantasy and say that
Social Security is perfectly designed, perfectly balanced, and efficiently run. And that you would get every dollar you were
promised. You’d still have a major problem if that’s
all that you’re relying on. To illustrate, in 2017 the average monthly
Social Security check was a little over $1,400. That’s under $17,000 a year—barely above
the poverty line for a two-person household. Do you really want to live at the poverty
line in retirement? Why in the world would you plan for that? But sadly, many people are. According to a recent study, 53 percent of
un-retired baby boomers have no retirement savings. That means they’re planning to rely on Social
Security for their retirement income. That’s them. Don’t let it be you. Here’s the right way to prepare for retirement: First, get on a budget. I don’t care if you’re 55 or 25. I don’t care if you’re making $400,000
a year or $40,000 a year. You need to have a plan for your money. I love motivational speaker John Maxwell’s
line that “a budget is simply telling your money where to go instead of wondering where
it went.” That means knowing, before the month starts,
where every dollar you make is headed. Whether it’s the mortgage or rent or groceries
or a car payment or whatever, you need to give every dollar an assignment. Second, attack and avoid debt like the plague. Most Americans spend 25% of their income paying
off debt. Imagine how much money you could save if you
didn’t have this albatross around your neck. Well, actually, you don’t have to imagine. Again, it’s simple math. A 30-year-old investing $500 a month in an
investment fund with a six percent annual return will have over a million dollars by
the time he’s 70. So make a plan to get rid of your debt for
good. I like the “snowball method.” List your debts, smallest to largest, putting
every extra dollar you have toward the smallest while making minimum payments on the rest. Once the smallest is paid off, roll that payment
into the next-smallest. And do this until all of your debt is paid. Finally, put Social Security in perspective. Anything you get from it should be considered
a fringe benefit—icing on the cake, not the cake itself. There’s nothing wrong with getting Social
Security checks. After all, you earned it by contributing to
the system all those years. But there is nothing “secure” about Social
Security. The last thing you want to do is rely on it. If you do, well—good luck. I’m Chris Hogan for Prager University.

100 thoughts on “Social Security Won’t Give You Security

  1. How is it an "Entitlement" program when I payed in and so did my employer, all by Law?
    I should be at least guaranteed to receive all the money in my account!
    More than what was payed in by me and my employer, that amount would be the only part called "Entitlement.

  2. Social Security is a Ponzi scheme, and should be abolished.
    They take money out of our paychecks for it, and we will never get it back

  3. Spot on! So what should we do about the pending boomer retirement crisis…invest in trailer parks and McDonalds as it's the cheapest place to live and food for them to eat. Profit from their stupidity.

  4. How much Welfare was given in 1935. How many immigrants were in the USA in 1950 60- 70 Etc . Living off of the Americans. Obama cleaned out Social Security when he left his Presidency. I worked since I was 15 yrs old as many others did . We deserve SS & stop paying people from out of the country that do not work &’are promised the golden streets . 🇺🇸

  5. I'll tell you why it sucks:

    The GOP is gutting it because it is taking money from the rich! How dare we try to help those who actually worked!

  6. Problem with this channel, is that it's so bias. I have never seen one video criticize the republican party. Probably because they are bing funded by them, ah the party of big business screwing over the white working class who vote for them, such as by taking away their health care.

  7. Here's what it is in the beginning of Social Security you collected around 65 your life suspension back then you would probably die around 7 0 now people are living longer and now they ain't got enough money to cover it all but yet we pay into it this is why I voted for Trump what are they doing with our Social Security money they have all this money to invest the government does the space program you name it

  8. That's true because if they got rid of Social Security but yet you pay into it and nobody was receiving it all hell would break loose trust me it would and it pay you any last man I can't be paid less than what I'm getting now I can barely make it

  9. Good Job, BUT, if you analyse completely, you notice that the original 'Social Security' was born as a remedy of the concept of 'Socialization' (as opposed to 'self-interest') 'We' (the people) had to convince the 'individual', that it would be advantageous to join civilization …as is usual with 'sales practices', one assumes that the customer needs enlightenment …To that effect the U.S. (gov) made a list of it's valuables' …HEALTH, SAFETY & WELFARE (nebulous targets) … to 'Pay' for I.T. 'they' engineered a new line on everyone's paycheck (tax? or insurance?) …technically this is a PONZI SCHEME (pyramid) …IF, you do the math, you realize that it was an 'Incompetent Incorporation' (illegal) from the beginning …Why did they allow I.T. ? …NOW, they have added a line (insurance?) for medical …NEXT, they will 'airline' us with 'weasel fees' (co-pay, deductibles, admin, premiums …) …NOW, compare the rest of the world's systems of government …We are by far the best of the best …one for all and all for one …

  10. …SOCIAL SECURITY …45 years (15% of your gross, not net) $100,000 gross ($65k net) x 15% = $15,000 y x 45= $675,000- …ADD compounded interest (for the loan at 10%) == $4,501,743 …NOW, do you see what you should be worth? …your SSI check should be $37,500- PER MONTH (not $1,400-) (PONZI SCHEME)

  11. I wish I'd known more about how Social Security works years ago. After two strokes, I got on Social Security Disability and SSI while still in my 40's. It switched to retirement benefits when I turned 66 early this year. My total income is way less than the average… I make $833 a month with January's increase. Not enough to live on. I live in a 35 year old RV behind a house, using their electricity and shower. I have no running water, no heat, no toilet. This state won't even give me a useful amount of food stamps. There is no security in social security. It's only thanks to some special people that I have this RV and a place to plug in. I don't think this is what Security is supposed to mean.

  12. You guys are Jews! Man, man, man. It took me months to realise this, no, years. This is the answer. You guys are Jews.

    These videos build up on logical arguments, which stand to reason. Ten years ago I believed almost all of this, too, actually. But reality and my country’s history put doubt into my mind. Even though your arguments stand to reason with about half your videos a voice inside me kept telling me it’s wrong. The tension between your arguments and the persistent voice drove me crazy. Now finally, I have peace. You guys are Jews! You aren’t Christians. You are Jewish! It’s a different worldview.

    It started when once I heard Dennis Prager say: „It is deeds which hurt other people. It’s not thoughts. So we should watch our actions.“ The voice was yelling „WROOOOOONG!!!!!“. I didn’t know why. Now I know.

    Jews try to have actions shape thoughts. It’s a from outside to inside approach like communism. But Jesus says: „I say to you that whoever looks at a woman to lust for her has already committed adultery with her in his heart.“ Jesus gives a from inside to outside approach.

    But Jews can’t do that because you don’t have a direct link to God who – through this direct link – is able to renew your minds. That link is Jesus. Through Jesus a gentile like me is closer to God than any Jew could ever be. The only thing which you Jews have is the law. A reflection of God. But I have God himself. The second best is the worst enemy of the best. I pity the fool. And after all, the law is something to control your actions. But Jesus has fulfilled the law.

    If your thoughts are clean (ideally, it's a process over years and generations) then there’s no need to watch your actions. Words and actions flow from your feelings. Feelings flow from your thoughts. A renewed mind doesn’t need to control actions because the actions will be reflections of its thoughts.

    Also the problem with the Jewish approach is that you risk pretending. You can be a lawful person to the outside and still be rotten inside. Next to need to be successful and a positive attitude pretending is the most American characteristic I can think of. Masters of showmanship.

    But Jesus criticised teachers of the law and Pharisees: „You are like whitewashed tombs, which look beautiful on the outside but on the inside are full of the bones of the dead and everything unclean.“ Jesus said that during the hight of Jewish civilisation. Around forty years before the scattering. It was the best the second best had to offer.

    In Europe Jews were excluded from society for centuries. Jews had no part in creating European societies. Europe is actually founded on Christian values. Those values are Jewish-bases of course. The Tanakh is two thirds of the bible. But it’s being looked at from the point of Jesus. Judged by Jesus’ teachings. It’s being looked at through the Jesus glasses. It’s being reinterpreted. Correctly interpreted actually since God is the giver of Moses’ law and everything else.
    The USA on the other hand had welcomed Jews as anyone from the beginning. „Pure“ and „original“ Jewish values could shape this nation from its beginning.

    That is why you guys like the USA so much. It has been created in accordance with your worldview. Well, not quite enough, right? Hahaha.

    Ben Shapiro always preaches that a society should let its members feel the consequences of their wrong actions. God punishes those not obeying his laws and blesses those who do. But this social reality needs to be created first. Needs to be created by Jews. Because you Jews know the law best. And in this reality created by yourselves you get the most blessing. You’d be on top of the social reality which you want to create.

    But Jesus says we should carry each other’s cross. If a woman had sex before marriage and gets pregnant Shapiro says that society should let her feel the consequences: loss of freedom, security, finances… and with these also loss of health and life span. Make her an deterrent example! It’s like natural selection. Social natural selection.

    But Jesus says we should forgive, give fresh starts and carry each other’s cross. Therefore European societies say that society should help the helpless. But Jews don’t know about the need to be forgiven by God. And they will not carry someones else’s cross. Bad gets קללה, good gets ברכה. That simple. Why should a Jew carry someone else’s curse?

    Of course all that Christian social thinking only works in a highly discipled society where the Tanakh’s understanding of right and wrong is strongly embedded in society. It only works if the wrong doer repents first. Evil needs to be erased from our midst. Otherwise you risk communitization of evil. Back to communism…

    Most European societies have started to lose this understanding of right and wrong. We are tempted to do communitization. If we keep losing the Jewish law foundations then that means the love of Jesus loses its foundation. As Paul said: „[…] I would not have known what sin was had it not been for the law. For I would not have known what coveting really was if the law had not said, >You shall not covet.<“

    Christianity builds on Judaism but is also more than Judaism. Once the Jewish foundations of a Christian based society are gone it will remember the Tanakh and then rebuild the Jewish foundations so it can put Jesus on top again. The other option is destruction of this lawless, empty-shell-Christian society.

    But rebuilding Jewish law foundations means to fall back on a lower social level first. On Tanakh level. On Jewish level. Fortunately, the level of the USA is still far away from Western Europe.

    With this high social level Europe allows for more individualism. Shapiro says that if you and the family which you were born into can’t effort to send you to university then that’s just as it is. You are bound to the circumstances of the group which you belong to. Or you can painfully work yourself up and see how far you get and if at all. That’s collectivistic and fatalistic.
    But in Europe you are just yourself. And any life is open to you no matter what group you belong to. That’s individualistic. Your life right away depends on your gifts, ambition and luck but not the conditions your group is in.

    You Prager guy! What a headache these last months were. But I’m grateful. You were my grindstone. And ironically you yourself have created a stern enemy for your teachings. Not for yourself. I don’t have the platforms yet. But with much pleasure I will make your disciples’ intellectual world a living hell!
    Wait! There’s no hell in Judaism, is there? Well, you get the picture!

    You guys are Jews! You aren’t Christians. It finally makes sense. I have peace. שלום and a Happy New Year!

  13. I wonder if he will leave the outgoing message on my answering machine…….

    What a voice! (And great subject matter as well)

  14. For everyone saying "This should be taught in High Schools. Kids need to be taught more finance!" Don't let the teacher be the one to tell them how to handle money. After all, they were the ones who put themselves 50k dollars in debt to finance a degree that would give them a minimum wage job. They're not the experts here. YOU ARE. You teach your kids about money. To hell with allowances, make them earn it! Teach them about retirement. About the debt snowball.

  15. I like the criticism, however, there's much more to it than this. Inflation and cost of living is different now. My last gas bill was $900 for 2 months. In the 50s, $2 brought you 3 week worth of groceries for a family of 5. If anyone's interested in learning more about the money system, watch "Zeitgeist 2, chapter 1". It about the federal reserve practice.

  16. Go read Andy Landis’ Social Security book and you’ll learn why this video is seriously flawed and short sided.

    Social Security is not a tax – you actuarially get out what you pay in. It’s not an entitlement program either, it’s a self-funded pensión that’s COLA adjusted and far from broke.

    Per the debt, this guy doesn’t understand debt leveraging or the snowball method. Aggressively Pay down a 4% mortgage that you can also itemize instead of investing in a well diversified low cost indexed portfolio earning 7-8%… you do the math.


    A NAPFA Fee-Only CFP(r), MS

  17. Good video & all correct except for one bit of advice on repaying debt: The snowball idea sounds good but it is flawed because the order in which you pay should take into account the interest rates you pay…This means that the credit card debt at 19% should take priority over the credit line debt at 4%

  18. Well, the first part of the video where he says social security is going broke, I didnt agree with. That's why they provided a backup argument. The second part, where they said that social security doesnt give enough money, that's where you, if you feel it isnt enough, can invest more. Social security shouldn't be lavish, it should be a backup. And it is. The last part of this episode is the best prageru video I've ever seen. Low bar, but still. Great debt education. Rare praise from me, but well done. Just try to keep the politics out. And prageru might just actually teach you something.

  19. Social Security is not secure…..thanks PragerU for stating the obvious once again. I’m sure majority of Trump supporters enjoy an extra pay to survive in their old age because Roosevelt thought about you.

  20. $1,400 / month?! There's nothing left for food or shelter after you spend that on another gun every payday.. and how do you afford ammo? This just doesn't work for me.

  21. 1400 dolares é menos que salario minimo mas nao é salario de fome nem da linha da pobreza. no Brasil esta é a renda de um recem graduado

  22. So let's get rid of Social Security so those planning on surviving on it's benefits won't be able to survive? And those who had additional savings on top of SS will not be able to survive either? Great idea! Sign me up! NOT!!!!!! You know where you can shove that.

  23. the other problem for the USA is state and federal government pension funds. The issue is the government neither kept all the money paid into it nor invested it, they basically spent it. So now there is another huge IUO the states and the federal government cant afford going forward.


  25. I'm on track to be debt free in 13 months. After that it's a matter of improving my income so I can afford a mortgage and $500 a month into a fund.

  26. This would be doable and to fix the health care, social security, and the national debt in one go but it would take one full generation to make it happen. All for 50/mth for 82 years. At a 12% rate a year amd that would equal 57 mil (for one head). If you took 57 mil times 350 million americans that equals to $19,950,000,000,000,000. This is way more money anyone can spend in this life time.

  27. In Germoney they just keep increasing the retirement age and taxes. It is so bad these days that you have retirees roaming the streets collecting bottles out of trash cans so they can cash in on the deposit. That's your brain on socialism.

  28. The reason retirees are going to other countries.
    17,000 US$ a year
    Is a comfortable life in other countries like in Asia.

  29. For the record, I LOVE Prager U and am a fan of Chris Hogan.

    But there are fundamental problems with this analysis.

    First and foremost the average Social Security check is completely irrelevant…to YOU. Grandpa Jones is 93 yrs old and has been on Social Security for nearly 30 yrs. What do you think his check is?

    Yet, Boomer Jane, who made on average 60k a year over her 35 yrs of Indexed Earnings smartly waited until this year, when she is 70 to claim her benefit.

    60k a year of indexed earnings equals an AIME of $5k which equals a PIA of $2136. But because she waited 4 yrs from her FRA to take her benefit she'll get a 32% increase and thus her check will be $2820.

    Let's say her husband John didn't work and "only" gets a spousal benefit. That benefit will be half of Jane's PIA, which is $1068.

    Add those two numbers together and you get a benefit of 3888 a month or $46656 a year.

    So, why focus on the average check which includes Grandpa Jones? Makes no sense at all.

    Secondly, remember Jane and John were living on $60k a year while Jane was working. RIght out the gate she lost 7.65% to Fica tax. She then loses another say $4k a year to Fed and State income tax. So, they're only NETTING around $50k after tax.

    Contributing to a 401k? probably, we'll say 10% So, after 401k and taxes she's really only bringing home around $45k a year or so.

    And yet with a TINY bit of planning their Social Security can provide MORE income than what they were living on. And don't forget SS is TAX FREE if it's your only source of income.

    Lastly, SO many people will say but what about health costs? Well, how did Jane have health insurance when she was working? No doubt she was paying premium for coverage for her and John. I imagine that was around $400 a month or so.

    Fast forward to being on Medicare and Part B is $135 a month or so, Part is around $35 a month, for each. So, between them they are paying $340. Now factor in a Medigap policy of say $150 a month each and their insurance costs go up to around $640 or so

    Higher than what they were paying before by a couple thousand a year, indeed. But that's not enough to say there is a retirement crisis, not by any stretch of the imagination.

  30. Chris has a pleasing demeanor. He should do more of Praeger U's videos.

    What many don't realize is that the amount of Social Security benefits were intended to have elderly persons, whom typically lived with their children, have something to help "pull their weight". Of course, it's not MEANS tested, as many recipients have substantial assets, such as a primary residence that's well appreciated over time.

    How much better off would SS recipients be if their monies, along with their "Employer Contributions" (in reality, imputed income, as far as the employer is concerned, simply further wages, even if it's tacked on to the gross pay of the employee), had instead gone into a self-directed account, wherein the investor could assume market risk but also reap much higher returns? The REAL issue is that over time, Government deficit spending brings about inflation, the most cruel tax of all, and it wipes out any guaranteed instruments.

  31. Probably because were wasting our money on the lazy welfare turds that don’t want to work! Now the ones who worked or fought for their country all their lives get screwed because of these lowlife turds!!!!

  32. They are wasting many billions of S.S. on non retirement programs like $4.4 Billion annually on anti-father Title IV-D flowing to divorce judges,police. call Congress to stop the evil

  33. Social Security is NOT an entitlement! That is money is put in by both my employer and me. The government never contributed one cent into my Social Security. IT IS NOT AN ENTITLEMENT!

  34. By making cuts to welfare you are going to force Latinos and African Americans to work i think that a good thing.I am a Mexican and Republican.

    The Ilegal and Black Cards are killing Social Security.

  35. For most of the people watching this video there isnt gonna be a penny left when we retire. So dont even count on it.

  36. Welcome to Indian way of living, and many (thankfully not all) Indians are spending like Americans…

  37. This guy seems to think that regular people make between $40,000 to $400,000 a year. I got news for you buddy, over 50% of workers make less than $30,000 a year. People dont choose to retire without savings, they just dont make enough money to save.

  38. The problems and issues with Social Security is complex and has many variables (varied cirumstances and situations and especially various people who EVILLY WANTED TO MILK IT FOR SELFISH ECONOMIC AND POLITICAL GAINS! Originally the real systems and procedures of the Social Security Pension Plans are based on investing their social security taxes in long term and multi-generational and multi-use and multi-purpose all climate and all weather infrastructure public utilities and their supporting technostructure full-set industries. And carefully and prudently "REGULATED BY THE PUBLIC GOVERNMENT IN ORDER TO PROTECT THESE PHYSICAL ECONOMIC INVESTMENTS TO MAKE THEM SAFE FOR THE INVESTED SOCIAL SECURITY TAXES INVESTED INTO THEM FROM WALL STREET" The aim is to ensure that all the social security taxes that has been paid by the retirees and seniors, and the steady stream of social security taxes that is being right now by the still working citizens will be safely invested and protected from Wall Street by "VERY STRICT GOVERNMENT REGULATIONS AND BY OTHER GOVERNMENTAL REGULATORY POLICIES" This done in this way so that their social security taxes can produce a steady retirement income stream from "REAL INVESTMENTS IN PRODUCTION OF GOODS AND SERVICES IN PUBLIC UTILITIES, PUBLIC INFRASTRUCTURES, AND PUBLIC TECHNOSTRUCTURES. While at the same time creating an increased in the high density life-supporting capacities and capabilities and abilities of society in sustaining human life in an geometrically increasing life-supporting capacity and at the same time sustaining economic life functions and activities in an geometrically increasing life-supporting capacity. In this way, society is not only stabilized but also assured of a steadily increasing life-supporting and economic activity-supporting capabilities, capacities, abilities. While a re-investment policy will ensure a steady support in scientific R&D in further improving such physical economic assets investments. This means investing social security in human resource development and in health care in all medical fields and educational fields and in all emergencies, plus for civil emergencies and military defense capabilities to defend the independence and sovereignty of the national-state constitutional republics. So, we will have to employ people on a large scale, as Roosevelt did, in public works, based largely on either government–that is, Federal, or state, or even local government–utilities; or we will have public utilities which are chartered by state governments, like we used to have public utilities, for things like power and so forth: high-volume; certain large-scale government project, to local public utilities. People can invest safely, their savings, in these kinds of public utilities, because we regulate the system, to make sure these things are safe for them. So, we have a large-scale of investment in this direction. This will benefit also the private sector since they are also dependent on public utilities and public services and public infrastructures and technostructures PAID FOR BY TAXPAYERS' MONEY AND BY SOCIAL SECURITY TAX MONEY.

  39. Affordable Care Act? Have they forgotten the self-sustaining and self-regenerating Hill-Burton Health Care Act of the New Deal? Hill-Burton Self-Sustenance and Self-Funding System

    Implementing the Hill-Burton Health Care Act which is a national public health care accessible to everyone regardless of their economic and social status by funding and treating it like a military national defense establishment for it will be our first line of defense against diseases and plaques since everybody can get infected then it should be funded and treated like the way we fund and treat our national military defense establishment, the implementation of the Glass Steagall Banking Act and State Public-owned Banking system to help secure our citizens savings and to ensure and acquire safe investments in public infra-technostructure and in transparent and stable local industries and businesses in the production of goods and services which all will be protected against nefarious financial practices and schemes by Wall Street.

    The Hill-Burton Act will be funded the way the U.S military will be funded and it's medical personnel provided by a similar medical-G.I BIll Act. Every medical student who wants to become a doctor, nurse, surgeon, medical technician, medical specialists, etc will be given free medical tuition fee and a weekly and monthly stipend to support himself and his family (plus health care Hill-Burton style of course) until he has finished his course. Then he has to pay back his free medical tuition fee by providing free medical health care in one of the many Hill-Burton Hospitals, clinics, medical centers, ERs, trauma centers, etc. And a weekly stipend and monthly stipend will be provided for him and his family, plus medical coverage for him and his family, until he has finished his paid internship which can last from 4 to 8 years.

    Then he can either go to private medical practice or stay on then Hill-Burton Medical but on a fixed income indexed to a real time and realistic actual living costs to maintain himself and his family and he and is family is covered also by the Hill-Burton Health Care Act Policy.
    Show less

  40. Good Job, Chris
    …I juxtapose the 6% – 8% interest charged by the government for student loans with social security deposits over a citizens lifetime (45+ years)

    …If the 'gov' had paid even 1% interest on these funds, social security would be infinitely solvent today

    …Why not 'found' a class action in the name of the Public Trust that 'recoups' this math in favor of the citizens of this country?

    …Next, deal with the Lobbyists and influence peddlers as they supersede the Public Interest

    …Let's hold these villains accountable in the history books

  41. …blaming the Public for trusting the government is counter-intuitive
    the gov needs to fix this Ponzi Scheme …or else

  42. Stupid Baby Boomers. They spent like they were punch drunk, destroyed the family unit, and left future generations to foot the bill.

  43. Chris, why not try some voice acting? I thought I'm hearing from any brother of James Earl Jones (if he had any).

  44. A 30 year old putting 500 a month into an account will have a million in 30 years. Well. I put 400 a month into social security for 22 years. Shouldnt that mean the money the government took from me and spent should have gained interest. Why can the government borrow against our social security without facing any financial consequences.

  45. 2 bedroom apt in cal costs $2000 ish per month –
    This is one reason why there’s so many homeless people here

  46. Well, all I can say is that-despite my pension-I had little financial security in my life until I-thankfully-began collecting Social Security at age 62. It has brought TREMENDOUS security to my life, both financially and emotionally. Paying into it all those years was THE BEST thing I have ever done! I paid into it for almost 30 years, so for those who accuse most folks of drawing from Social Security for more years than they ever paid into it, I'll answer THAT accusation when I hit ninety…IF I manage to make it to ninety. So far, a grand total of only TWO people (between BOTH sides of my family) have managed to reach that age. With the lifestyle I had in my earlier years, I'm not apt to be among them. I have never expected Social Security to "finance" my retirement. BUT I DO expect it to SUPPLEMENT my retirement. That's the damn reason I PAID (not the government) into it.

  47. And social security is taxable….all of my social security is going to the landord.He will live of my money.

  48. Whether you’re right or left thinking socialism is going to pay for your entire comfortable retirement is an idiot😂 good try Prager

  49. I’m thinking a lot of the audience of prager either doesn’t care or believes they have earned it somehow. I think it is best to explain that social security works like insurance in that it doesn’t save money you put in, but takes money from ppl in the present to pay for retirees.

  50. I'd sure be curious to hear from those giving this a thumbs down. Please do enlighten the rest of us on how this horrible Ponzi scheme is anything but an inevitable failure.

  51. I'm 50 years old. Was in High School in the heart of the 1980's. It was then that I determined to put social security out of my mind. I was persuaded it would be gone by the time I was older. I'm actually surprised to see the ponzi scheme still going!
    Oh, by the way, I never contributed to Social Security. I paid into it by legislative force. There is a world of difference. In my opinion, it is wrong to take Social Security, because it is theft at the heart. It has always been immoral to have money stolen "in your name" and supposedly "for your best interest" (sounding like mommy and daddy?)(Mmmm Hmmmm)
    Just because it is legal, and the status quo, remember, the same can be said of murdering the unborn children God created.

  52. Let's talk about social security you know why Social Security is going broke cuz of the government people in Congress they don't care they live good real good they're counting on you dying I'm serious they are they missed manage our money that's what they did was so security they missed manage the money and they don't care end of story accept Jesus as your personal savior we're just passing through this world God does take care of you

  53. Here's an idea for the government why don't they quit sending billions of dollars to other countries let's not kid ourselves they don't care about social security this space program they can cut funds like I said before quit sending billions of dollars to other countries the government just don't care

  54. The problem is that SS is just another pawn on the political game board, that means either party views it as a piece that can be used as a strategy and sacrificed when necessary. SS can be fixed with several adjustment options, other countries have already done it, so the doomsday scenario is only a political scare tactic. The bigger problem is the American ignorance of money management, for decades we have been driven by a consumer based economy, and there are more products and services reaching out for your wallet, than ever. I'm a child of the 60's, and I remember being taught basic household economics in high school, I don't know of any school teaching that today. Now schools are focused on diversity and inclusivity at the expense of practical subjects like the 3 R's and economics. The government can't fix the consumer mindset, that's the responsibility of parenting, but that's tough when parents can't even control their spending. If you want a comfortable retirement, get out there and learn what you don't know, the solution is simple and not complicated, it's hard but not impossible.

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