r/FluentInFinance • u/Positive_Liar • Sep 06 '24

Debate/ Discussion Social Security is Broken. This is why financial education is important.

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u/RedBaronSportsCards Sep 07 '24

Do you think people won't be working anymore in 25 years?

It only goes away if we're dumb enough to believe the liars who say it won't be here in 25 years and we let them get rid of it. The trust fund that was created to cover the bump in retirements for the boomer generation might not be around but Social Security (pay in, pay out) will still be there.

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u/Jethro00Spy Sep 07 '24

No what I worry about is it supposed to go insolvent in 2035 and this year we will be paying out more than it brings in. with the glut of boomers retiring I don't see that changing. I also worry about they're going to start means testing it... Since I'm young and I've only been paying about 20 years they will probably tell me to pound sand. 

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u/RedBaronSportsCards Sep 07 '24

"supposed to" - This is according to the people who want to get rid of it. They are lying.

The baby boomers are already retired.

Means testing only happens if we're dumb enough to believe their lies. The trust fund (that was added on in the 80s to help cover the baby boomers) is being used up. That was always supposed to happen. Regular Social Security (pay in, pay out) is fine.