How Social Security Works

Since 2010, Social Security’s cash flow has been negative, meaning that the agency does not collect enough money through taxes to cover what it is paying out. Even though there was still this vast trust fund behind Social Security, they started tapping that fund’s interest.

Starting in 2021, they will have to dip into the trust fund itself to cover those benefit payments, and even that pool of cash has an expiration date. Trustees of the fund expect that by 2035 it will not be enough to cover full benefit payments. Due to COVID-19, that date may come years sooner than expected, which has some retirees seriously worried about their future.

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How Social Security Works

[Beatricegove]

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

[throwuout]

When you lie to the government it’s a crime, when government lies to you it’s politics

[amolejoshua]

With around $120k invested in Palantir stocks, any suggestions for additional stocks to diversify across various markets? Looking for a well-rounded portfolio that balances risk aversion with returns meeting yearly inflation concerns.

[barttfisher]

I am currently burning through my 40s and This is no time to taper retirement savings. I want to max out my retirement funding and I also have another $200k in a savings account that i want to invest in a non-retirement account.Would it be better going to housing? Maybe own property and let it till im ready to move in at 65.

[Monster]

Can we just lower congresses wages? They hardly do anything

[sysavanhsouthimath]

This video is misleading. They left out the part where the SS fund has been looted over the years by Congress for 'other' things. The fund would be doing great if the 'borrowed' funds were repaid.

[tahirisaid]

One thing a successful retiree never discloses is how they got to realize that the key to amassing wealth lies in making sound investments. I purchased my first home at the age of 21 for $87, 000 and sold it for $197, 000. My second home, acquired for $170, 000, was later sold for $320, 000, and my third property, purchased at $300, 000, fetched $589, 000, with buyers covering all closing costs and expenses. Not reaching a million before retirement feels like an unfulfilled goal.

[JLW]

2:51 FDR
1:40 Cashflow
6:50 Case Study
16:33 Universal Benefit Plan

[austinhannemann]

I can’t believe paying two state income taxes, insane

[districtnerfco.]

Ridiculous that were forced to keep up our end of the bargain, while the government can just say, “Sorry y’all.”
Legalized thieves 😡

[bernardwright]

Over the course of the years I’ve realized that time and patience is very key to understanding the school of the mind. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.

[helenharrison]

Been watching, listening, and paying attention to all of predictions and forecasts since early Covid. He hasn't disappointed yet 👌

[lisaowens]

If they can cover bailouts they can cover our social security.

[BudLeiser]

Take control of your retirement, don't trust the government.

[jeremygago]

Never was a fan of politics but I wanted to learn about retirement plans at a young age that has brought me to social security research and now I’m here. This has opened my eyes to why it’s so important to stay in the loop. It’ll effect us ether way. Better to be prepared then ignorant.

[KarmasMyBesto]

I’ve been working since I was 15. Applied for unemployment 2x when I was in between jobs. Denied. And now I have to look forward to the fact I’m paying for something that won’t be there for me when I need it EVER :-)

[gamesilike]

I am still in high school, I was never taught about investing or saving for the future. The only thing we were taught was work and you'll receive retirement benefits. I opened my Roth IRA earlier this summer, I have a 401K plan, an IRA, and I'm investing in stocks to have money for when I retire. I had to go out and learn all of this on my own with no help from the school system.

[cat-.-]

So millennials are paying for boomers retirements today and we won’t have a pension when they retire lol why am I laughing *tear*

[VirgoINFP]

They should let people choose to opt out paying social security or not, if the money is not guaranteed to be paid out in retirement.

[Greggsberdard]

I think the retirement crisis will get even worse.> A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.