Advance Placement: SOCIAL SECURITY WILL RUN OUT SOON - podcast episode cover

Advance Placement: SOCIAL SECURITY WILL RUN OUT SOON

Mar 30, 202310 min
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Episode description

In this Advance Placement we discuss the Social Security program the government created for retirement, but in 2034 those funds will be depleted. What does this mean for your retirement. 


#earnyourleisure #socialsecurity #retirement #2034



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Transcript

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.

Do what's right. Leave now. Under President Trump, America's laws, border and families will.

Speaker 2

Be protected, sponsored by the United States Department of Homeland Security.

Speaker 3

And then also what they have going on in France right now is riots in the streets because the President is trying to push the retirement age back. But we also all right, there two sides to this coin. At some point things have to change because the world is changing, Right, So hours have to get cut back. The retirement age has to get pushed back if people are living longer. Right, it's just common sense that the retirement age has to get pushed back. It's a strain on them.

Speaker 2

Or a leisure has to be earned faster.

Speaker 4

Maybe the government of France is not doing that well. By the anytime a government is trying to extend the retirement age, it is a sign that they have messed off the pension and government funds for.

Speaker 2

You to retire.

Speaker 4

That's the big bomb when that gets dropped, student loan debt, and where is the social security money.

Speaker 3

At Well, if you if you're relying on the government for retirement, you're screwed it. You're screwed anyway. I'm just gonna be fully transfer You.

Speaker 4

Don't think FTX bad.

Speaker 2

Wait, today revealed that bubble on.

Speaker 3

Well, here's the thing. If you ever look at your so this is important. Social Security, right, is the government program that was created to supplement people's retirements. That's what it was originally created for. But supplement is extremely important. It was never designed to be the fully source of retirement. But if you look at your your statement. You can go online and look at your Social Security statement. It actually says the day that Social Security will be insolvent.

It says you can actually read it. I forget what year it is, but I'm just I don't know exactly what year it is, but let's just say it's like twenty thirty. It'll say like twenty thirty social Security is on pace to be insolvent. It says it, and nobody, nobody read it, nobody cares about it. And I learned this when I was an advisor. I used to actually go through it with my clients and like, look, I

used to highlight it. You see right there, like there's saying that there's not going to be any money left. This is their way out. So when it does implode, if it does implode, they can say, well we've been telling you.

Speaker 5

Yeah, yeah, yeah, yeah, yeah, twenty thirty three, yeah, twenty two three, we'reneering, we're nearing.

Speaker 3

So now they can of course, they can make changes, they can do bailouts, but as it stands right now, it's on pace to disappear in twenty thirty three. So you, as an intelligent person, should never plan if somebody's saying, okay in twenty thirty four, I'm mo on Pace is divorce you in twenty thirty four, you're prepared to get divorced? You don't. You don't cry about it when it's they're telling you. They're telling you it's going to happen.

Speaker 6

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Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas. Man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you were here illegally, your next you will be fine nearly one thousand dollars a day, imprisoned and deported, you will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.

Do what's right. Leave now. Under President Trump, America's laws, border and families will.

Speaker 2

Be protected sponsored by the United States Department of Homeland Security.

Speaker 3

So relying on the government to save you is never a good option.

Speaker 2

Yeah.

Speaker 5

So we've already seen the United States push the retirement age back from sixty two to sixty five, and then I think now it might be seventy for a certaineventy one for a certain France is proposing to push it back from sixty two, which is what it is now, to sixty four, So two more years even, I mean, that's still younger.

Speaker 2

Reasonable, that's still younger.

Speaker 5

Than what the United States has.

Speaker 3

That's very reasonable.

Speaker 2

Yeah, that's not bad, the EU opinion.

Speaker 4

I would have eleven years or fourteen years of life to go explore and travel and play with your grandkids.

Speaker 7

Yeah, basically got your leisia a lot faster you're writing.

Speaker 2

I mean, I'm with you, basically you got Yeah, we gotta figure that out. That's to be the like, that's the goal.

Speaker 4

And they won't say it. But the reason that they're really mad at that kid from FTX because he's the one who made the block hot, meaning once he unveiled the corruption inside of the financial system, that was the thread that like destroyed the sweater or the veil. And now you're seeing he wasn't the only one mismanaging funds. Just bigger than you.

Speaker 2

No brown.

Speaker 3

In cases Pelican Bay. That's why they'll be playing basketball. Probably not though they're gonna be playing They're gonna be playing golf with Martha Stewart that she was at but uh, your man Trump, he's handing himself into marow.

Speaker 7

We shall see about in the second protest and the streets that was.

Speaker 3

Like that Dave Chappelle skid. Remember that when he gave he gave a skit about like this the white collar criminal that stole like sixty billion dollars and he was going to jail, so he had to like call they negotiated his surrender. He like he had like his meal planing, and then they had like the drug dealer where they ran the crib at like four o'clock in the morning and and hut the door down and like it's a

whole skin you've never seen it. It's actually a very true testament to the American justice system.

Speaker 7

I digress a lot of truth and Jess, thank you. So let's Mike edited this out. Let's be knocking on the door of the show. Oh man, hit the like button and ship please.

Speaker 3

My graduates from my school being forced back drop bag drop, Mike, drop back drop drop.

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.

Do what's right, leave now. Under President Trump, America's laws, border and families will be protected.

Speaker 2

Sponsored by the United States Department of Homeland Security,

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