Well, given the fact that life expectancy is now 80+ and growing, and using the same government calculation, we would have to set Social Security at around 85 in order to continue to fund a plan that someone else might want to access for reasons other than us. If we adopt this scenario we will simply continue to do our part and die off in advance of collecting much, if anything, from the program.

Is the problem that there are too few younger workers to fund Social Security for our much longer lifetimes as some would have us believe? While it is true that Gen “X” has only 46 million folks to support the baby boomers’ much larger population, Gen “Y” is 77 million strong and they are ready to step up and pay the tab for our old, old age.

Or, is the problem with Social Security something entirely different? Well, there’s a little more to the Social Security story that you may not know about but we, most certainly, will tell you…

According to Congressman Jeb Hensarlin (5th District in Texas), Washington has “raided the Social Security Trust Fund 49 times in the program’s 70 year history. In addition, Washington has cut benefits six times while raising Social Security payroll taxes more than 20 times since 1935. The riskiest plan for Social Security is leaving retirees’ money in the hands of politicians in Washington.”

And, are you aware of the government’s plan for themselves? In a nutshell, our Senators and Members of Congress do not pay into Social Security and, so, do not collect from it. However they do have a special plan for themselves that they devised and voted in! When they retire, they continue to draw the same pay until they die although, of course, it may increase from time to time to provide for cost of living adjustments. The cost for this plan is “free” to them – you pay for it. And, oh yes, the plan is inheritable by their spouses.

Don’t trust those Leprechauns to tell you the whole story. Don’t trust entitlement benefits. Invest in lifelong learning – it offers the only high return you may count on!

On a similar matter… the S-AGE was asked the following question: How is Medicare Doing? Should we be concerned? “Ah” – whispered the wise one into my ear – “another big secret is out! While Social Security is shaky - Medicare is dead broke and has been for a few years. Surprised that you haven’t heard more about Medicare’s woes in the news? Don’t be. You’re not likely to hear more about Medicare until after the next batch of Leprechauns are voted into office in the upcoming election year.”