Social Security

[6andcounting]

I work at a bank. So many people 70+ thought/were duped into believing SS was going to be their retirement plan. Most of these peoples entire estates will have to be sold off to pay creditors and that still won't cover it. It's only supposed to be a portion of retirement income - it gives the exact % on everyone's individual basis on the yearly statement . As someone who is 25 it's shocking how people who went straight into the workforce in good paying jobs with no (or little) education debt and who've lived in the same home for 30+ years that has quadrupled in value can have so little money in retirement. Obviously there can be reasonable explanations for circumstances, but so many people didn't think ahead or just figured SS and pensions were free money that would cover all their problems.

Dollar for dollar SS is the worst retirement vehicle out there and it's not even close. If it should continue to exist, it should be because of disability benefits and survival benefits for people who die while they are still working and their family will miss that persons income.