Social Security

Social Security

Back in 1935, when social security was created, the ratio between worker and retiree was 159 to 1. So, for every 1 person that was collecting, there was 159 people paying into the system. Unfortunately, according to the Social Security Administration, there are now only on average 2.8 workers paying for every 1 worker that is collecting. As you can imagine, that isn’t financially practical or sustainable. Social Security’s own board of trustee’s has stated that no later than 2050, the entire system will be bankrupt.

In 2017, the average monthly Social Security check was on average $1,300. This of course is not nearly enough what someone needs to retire on. For perspective if you made on average $50,000 a year, and kept the roughly $3,000 that you pay into social security and put that in a conservative portfolio, around 6%, 6.5% annually for 40 years, you would have around $525,000 to retire on. That is life altering money.

These statistics paint the picture that the government should not be trusted with your hard-earned tax dollars.  The only solution for all Americans, from millennials like myself to senior citizens, is to

1. Either privatize the industry or,

2. Give the money back to the taxpayers.

You and you alone know the best way to invest your money, not the government.