Time to Leave the Social Security Plantation
28th March 2026
Per the most recent report, in 2025, of the Social Security and Medicare board of trustees, Social Security is capable of paying out the entirety of promised benefits through 2033. After that, there is only the capability of paying out 77% of promised benefits.
That’s seven years from now.
Anyone who got a letter from their investment fund or insurance program that said, “We’re sorry, but in another seven years we won’t be able to pay out what was promised,” would immediately be on the phone to their lawyer,
Why does this very bad news about Social Security not seem to trouble Americans?
One reason is that we have no control. It’s not yours despite the fact that you paid for it.
You would immediately be on the phone to your agent or your lawyer if your insurance company declared bankruptcy because it’s yours. You own it.
Have you ever called Social Security or the IRS to ask a question? You will sit on the phone for hours, and in the end, most likely you won’t connect. Try it and you will understand what hopeless means.
My Social Security income just about pays my income taxes, so I’m good.