What we can learn from Social Security exceeding its income in 2020
This is very disturbing that social security is set to exceed its income in 2020. What does that mean for all of us paying in? To be honest, I am not quite sure, but one thing I have always stated is that I will not rely on the government for my retirement.
**UPDATE** Furthermore, we are also told that the Social Administration will need to dip into reserves starting in 2020 and they will be exhausted by 2035. This is not good at all!**
What this headline does do is draw a lot of attention to the issue. Maybe we will finally be able to have a system where you are able to opt-out of social security and put your money away as you see fit. That would be ideal, but if too many people opt-out the system will implode.
America has some very real structural issues in many of these social programs and we are finally starting to see them for what they are. I for one would like to opt-out. I think it is finally time to let us opt-out of social security and take care of ourselves like full-grown adults.
about the author: About the author: My name is Anthony Davian and I am from Cleveland, Ohio. I was formerly known as the idiot @hedgieguy. I am a recovering hedge fund manager and serial entrepreneur. My passion is working with start ups.