Ep. 32 - Is This What Social Security Was Meant To Do?
Ep. 32 - Is This What Social Security Was Meant To Do?
The other day on Reddit someone commented that Social Security is meant to provide you with a full retirement. I had to laugh. Social Security was meant to be a suppliment to your retirement savings. Back in 1935 when Franklin D. Roosavelt passed it into law most people had work pensions and most people were expected to save for retirement. Social Security was designed as a safety net to keep people out of poverty, not to be their retirement plan.
In this episode we explore statistics on how many people are contributing to social security for each person collecting it as well as the fact that it's current workers that are funding the social security of those receiving it currently.
Check out this episode in full to learn more and what it means to you.
Want help with your retirement planning? Contact Red Barn Financial at www.redbarnfinancial.com, call 615-619-6919 or email smoran@redbarnfinancial.com