Everyone knows that Social Security has problems. Even the politicians. No one seems willing to do much about it. Especially the politicians.
You’ve probably seen some of the numbers. When the Social Security began in the 1930’s, life expectancy was 62 – many people would never see a benefit – and there were 42 workers contributing to the fund for every one retiree receiving from the fund. Life expectancy for today’s 65-year old is well into the eighties and there are about three workers supporting the plan for every one beneficiary. Soon to be two for every one. Social Security depends on younger workers to pay the benefits for retired people. Social Security’s math won’t work all that much longer. They say the “go broke” date is now sometime during 2033. Continue reading