The New Retirementality: Planning Your Life and Living Your Dreams... At Any Age You Want

Chapter 2. The End of Social Insecurity and Other Retirement Fears

To tremble before anticipated evils is to bemoan what thou has never lost.

—Johann Wolfgang von Goethe

The first and greatest commandment is, 'don't let them scare you.'

—Elmer Davis

The financial foundation for people beyond the age of 65 will be Social Security, in spite of all reports to the contrary. There is a clear disconnection between the expectations of people toward Social Security and the financial reality of later years. We, as a generation, have been taught not to expect Social Security to be around. Consequently, a majority of people say they are not counting on Social Security in their retirement planning. In reality, however, Social Security is a major part of the foundation for most retirees' fiscal houses and will continue to be for many years to come.

The Demise of Social Security: Fact or Fiction?

Let's take a closer look at the fearful future for Social Security being projected by the doomsayers and the logical underpinnings that this horror story's plot is built on. As you inspect these rationales, you will see that much of it is hype, myth, or unbridled pessimism. Closer inspection shows that all of the prophesied circumstances that may or may not be in our future are manageable.

One of the favorite portents of "the gray sky is falling" crowd is that "Social Insecurity" will lead to "AARP-Ageddon"! According to this old warning, the Social Security system will be insolvent by the time you need it. ...