The Great Retirement Betrayal

While you may not depend on Social Security to fund most of your expenses, you shouldn’t ignore it either.

photo by Michał Parzuchowski on unsplash.com

Investing to ensure a smooth retirement is (or should be) one of the biggest concerns of people today, both young people and those close to retirement. In fact, about half of adults over 65 in the U.S. alone who live alone cannot afford to pay for their basic needs, according to a recent study. Among couples, nearly a quarter of families are financially insecure in retirement.

This concern is quite relevant; the rest depend on relatives, charity, or are forced to continue working. Workers will need to adopt a method of working harder, saving more, spending less, and making every penny count.

I’ll talk more about this in a moment. Even with this scary scenario, workers continue to be fooled.
After all, you already know that relying on Social Security will not guarantee a decent retirement.

And there’s not much you can do about it.

An amount will continue to be deducted from your paycheck every month, and nothing can be done about it.

Still, you can save part of your salary.

And this is great!

This attitude makes you a different person.

This leads us to the sad conclusion that 9 out of 10 of today’s workers will face serious financial problems when they can no longer work.

In other words, all the financial assets and Social Security contributions accumulated over a lifetime have not been sufficient for a smooth retirement for many of the retirees.

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