I’m 35 years old. My hairline is that of a 46 year old. Collectively, my hairline and I, are confident that Social Security will not be there for us when we retire. That is to say it won’t be there in its current form and/or its current level. I don’t really feel as though this prediction is in any way a political statement. I simply used some middle school mathematics to derive my conclusion. I’ve written before about the retirement problems facing anyone under 45 years old. All jokes aside, this is a hair-raising situation. How are you supposed to budget for retirement, if you don’t have any idea where your income sources are coming from?
I don’t get tremendously bent out of shape over my assumption, primarily because I don’t want to end up as a one-man annexed country in the woods. For years, it’s been suggested that privatizing social security is a reasonable solution to our impending problem. I’ve casually considered this possibility in the past, but I wanted to consider it even further. So I asked Kamy Akhavan from ProCon.org to join me on The Pete the Planner Radio Show to discuss. During the first segment we discussed the pros from privatizing Social Security. And in the second clip we discussed the cons to privatizing Social Security. You decide which perspective makes the most sense.
The pros of privatizing Social Security
The cons of privatizing Social Security
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.