Social Security Sick?

Talking Real Money - Investing Talk

Don McDonald

Business, Education, Investing, How To

4.2 • 680 Ratings

🗓️ 14 May 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Millions of people rely on Social Security for a large portion of their income, yet the system is running low on money and won't be able to meet future obligations without major changes. So, which is better, reducing benefits or raising taxes? Plus, we take listeners questions: What's the best way to reduce taxes on retirement plan distributions? What can be done to reduce hodgepodgery in a portfolio? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Exclusively on Disney Plus.
0:02.0	It's hard and it's brutal and that's what makes it special.
0:06.0	The multi-award winning series, FX's The Bear, is back for a brand new season.
0:11.0	Upon my signal, unleash hell.
0:15.0	And every second counts.
0:17.0	When that shows zero, this restaurant ceases operations.
0:21.8	FX is the bear.
0:23.1	New season now streaming exclusively on Disney Plus.
0:27.0	18 plus subscription required season C's apply.
0:34.9	Reality radio for a really great future.
0:38.0	We're talking real money.
0:40.8	Originally, way, way back like 90 years ago,
0:45.6	there was a stopgap retirement system created for U.S. workers to keep people from getting into their later years,
1:00.1	for those lucky enough to make it past 65, to make sure that we didn't starve to death if we
1:07.1	didn't have a pension or other source of income or didn't die, literally die
1:12.7	before the vast majority of people died. The vast majority of people in the United States
1:18.0	in the 1930s died before 65. We didn't live that long. In case you did, the government
1:25.3	created Social Security as a means by which to keep you barely alive.
1:32.2	Well, over the years, Social Security has changed and it's really grown. It's a behemoth.
1:40.0	And that entitlement also includes things like Medicare and Medicaid and other programs,
1:47.1	Social Security Disability.
1:48.7	And there is a great deal of concern now that maybe, maybe we won't get our Social Security.
	...

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