Dave Ramsey breaks down why relying on Social Security for retirement is a risky move and how to secure your financial future without it.
Transcript:
DAVE RAMSEY: Well, I’ve never counted on Social Security and I’ve never taught people to count on Social Security to retire because it’s not enough one thing. And it was never meant to be the retirement plan. It’s meant to be a supplement or a, you know, a net to catch the people who had absolutely nothing. But, I mean, you don’t want to live on Social Security. That’s not a very good life. And so even if it exists later, you need to plan to do better than that. And so it’s a lot better to have a couple million bucks in your 401(k. I mean, the quality of your life is incredible compared to trying to live on 14 or 1,500 bucks a month, I mean, or $3,000 a month. And so we don’t want to be there. So I’m not really counting on it. One way or the other. I don’t know if it’ll be there. If it’s there, it’s not because of math, it’s because of politics.
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