Replies

Many of these young people (I get to say that since my kids are this age) probably do see the whole social security thing spiraling out of control and no one doing anything about it. It gives a sense of helplessness to them.

I disagree. Social Security, or the premise of it, depends on a lifetime of work. Of earning a paycheck, paying your way through life, of paying for housing, raising a family, making sacrifices in order to save now, so that you might be able to enjoy your future...when you can't work because of older age.

I don't think most young adults recognize what Social Security is, because they haven't worked enough, paid enough taking care of themselves or their families. They don't yet appreciate that they too, will be old someday, and that they may not be able to physically or mentally work.

Because they don't yet recognize what retirement is, what Social Security is (and let's face it, SS is not a magic bullet for retirement), they can't yet appreciate what it would mean to have a reduced, or even no SS benefit when they retire.

If I heard more of the millennial generation saying, "you know, I'm putting 10-15% of my paycheck into my retirement savings, and I'm contributing another 6.5% to SS...it'd sure be nice if I could see some of that when I'm ready to retire!" -- If I heard them saying that, then, I might feel sorry for them.

"If I heard them saying that, then, I might feel sorry for them."

I think in a backhanded way, that's what the guy is saying. Social Security is either not going to be there for me or be there for me when I'm way too old. IMO, it should have never been started but that's another conversation. It's here now and we have to ask ourselves what are we going to do to fix it.

Everytime someone tries to put forward an idea, the other side of the aisle bashes them over the head with it. W's idea of privatizing part of it was a good idea and look how he got hammered for it. Both sides, especially the Democrats do not want to find a solution for this. They want old people dependent on them. The millennials feel that it's going to fall apart and not be there for them so some of them are going to have the attitude of carpe diem. The whole idea is a ridiculous ponzi scheme and they are right, why should they have to contribute to something that's going to pay my way when I get old and it's not going to be there for when they get old. That is the attitude I sense from what he said though he didn't outright say that. The article states nothing about whether he is planning for his own retirement so we can't speculate on that part.

People can’t afford to save money for retirement. Especially when married. One spouse may want to but the other basically makes the decision by spending all the money as rapidly as possible.

Most people under 40 today will die at their desks.

they can't yet appreciate what it would mean to have a reduced, or even no SS benefit when they retire.

Are you joking? There's not going to be SS benefits for Millennials. Millennials aren't going to retire. They'll work until they're dead or hospitalized. They might as well enjoy life now.