Can You Depend on Social Security for Retirement?

Many do, but that doesn’t mean you should. In fact, those who count on Social Security might just end up with nothing in the end.

I recently heard Dave Ramsey speak about Social Security and the insecurity it would provide. He said that he would forfeit his Social Security benefits if only the government would allow him to stop paying into it. Keep in mind Dave is nearly 50 years old; he’s been paying into Social Security for a long, long time!

Should I count on Social Security? I suppose the root of the question is whether or not the government is dependable. In the scheme of a lifetime, government programs come and go. Should I entrust my retirement into the hands of politicians? Everyone is aware that Social Security is a non-sustainable program. Should I depend on Uncle Sam for my income? I think not.

Instead, investing on my own is of primary importance. The only way to ensure I get the kind of retirement I’m looking for is to invest the money myself and ensure proper diversification.

It is said that the average Social Security recipient gets $1,094/month. That’s depressing. I want to have good money to give away!

If you are a member of clergy, you can elect to not pay Social Security by signing a form. God calls us to be good stewards of our money. If Social Security is a failing program, it is not wise for those of us who don’t have to contribute to keep on contributing. Instead, make sure you are investing well.

We need to make sure we are responsible with the money we have. Our working years are short, and retirement planning is more important than ever before. Eliminate your debt, save money, and invest. You’ll be glad you did. Then, when you’re older, go buy that RV you’ve been eying and hit the open road. You’ll be ready to give like never before!