Is retirement for Americans a thing of the past?

A new survey finds that more than forty percent of Americans think they will not be able to retire until their 70s or 80s.  Many Americans do not save sufficiently for retirement and rely too heavily on Social Security, which is intended as a supplement to retirement, not a sole means of income.

Many factors are at work here.  For one, artificially low interest rates created by the Fed provide more incentive to spend and go into debt rather than save.  And the existence of Social Security also means that many people think they can rely on the system for their retirement.

Fiat money is another factor.  Unless one puts their money in risky investments such as the stock market, inflation will diminish the value of savings over time.  When there was a gold standard people could save and have their savings appreciate in value over time rather than depreciate as now happens with the current fiat money system that is controlled by the Federal Reserve System.

But in the below video you’ll see just how poor of a return you get from Social Security as compared with investing privately in the stock market or other assets.  Even investing in Treasury Bills provides a higher return than Social Security.  That would be better than forcing people to pay into Social Security but the real solution to the retirement crisis is to get government out of the picture completely.

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