Social insecurity

New data from the Social Security Administration shows that the government won’t be able to pay promised benefits after 2035.

The new report reads, in part:

“The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds are projected to become depleted in 2034, the same as projected last year, with 79 percent of benefits payable at that time.”

Hey, hey hey. Chin up bucko. The report used to read:

“… are projected to become depleted and unable to pay scheduled benefits in full on a timely basis in 2034.”

I guess they thought that last bit scared the sh*t out of people just a little too much so now it’s been deleted.


Stick your head in the sand?

Uh. No. That’s probably not a great idea. Of course, if that’s your thing, have at it.

How about… rely on state pensions?

Pew International’s report shows that:

“In 2016, the state pension funds in this study cumulatively reported a $1.4 trillion deficit—representing a $295 billion jump from 2015 and the 15th annual increase in pension debt since 2000. Overall, state plans disclosed assets of just $2.6 trillion to cover total pension liabilities of $4 trillion.”

Pew regularly updates info as it becomes available. States are, understandably, slow in reporting their assets and liabilities.

You would too if you were severely in the hole on your promises and have basically been lying to your constituents all this time.


If you want to eat something other than cat food in your old age, probably a good idea to take responsibility for your financial future and not rely on the feds to do it for you.

Clearly, they have issues.

Long-time readers know of the dicey issue plaguing 401(k) plans and (to a lesser extent) IRAs… which leaves a few options:

  1. Private investment accounts
  2. Direct stock ownership
  3. Life insurance

Yes, there are the odd bits and ends including real estate, but… of the three most common options, #3 has been a reliable place to save money since before this country was founded, followed closely by #2.

Anywho, if you want a stable, secure, savings plan, join the email list, learn more about the life insurance planning process, learn about The Perfect Policy™ concept, and then decide if this is something you want to do.

David Lewis, AKA The Rogue Agent, has been a life insurance agent since 2004, and has worked with some of the oldest and most respected mutual life insurance companies in the U.S. during that time. To learn more about him and his business, go here.