Finances,  Retirement

Social Security is Not Enough

A coworker is being forcefully retired at work.

At over 70 years of age, he has worked for my bosses now for 40-plus years.

Tears were shining in his eyes as he told me the news. He has one month’s notice before his last day.

“But you’ve got Social Security, right?” I asked, casting about for a way to console him.

“It’s not enough,” he sighed, visibly shrinking. “It’s not enough to take care of me and my wife. That’s why I’ve kept working.”

I didn’t know what to say. What could I say?

I listened to him talk instead.

Years ago my friend bought into the lie.

My friend had believed that Social Security would take care of him when it came time for him to retire.

But they lied. They’d lied to him, and now it was too late.

My friend faces a frightening future as a result of his trust.

I don’t know what is going to happen to him. I don’t know if he will be able to find another job at his advanced age. I don’t know if he’ll be able to pare down his expenses to compensate for the lost income.

And there’s nothing I can do to save him.

I closed my eyes in silent prayer as he left the room. I prayed that he would find a way through this.

I also made a vow to myself.

That is not going to be me. That is not going to be my future. I’ve seen the writing on the wall; if I don’t do something to build up my passive income I’ll share the same fate as my friend.

I’ve got to keep trying.

I’ve got 21 years before I reach the age of 70 in order to make my goal a reality. I will do whatever it takes to avoid his fate.

And while I’m at it, I am going to continue shouting from the rooftops about the dangers of relying on the Government to provide for you.

Hopefully people will start to listen.

2 Comments

  • Kelly L Barrington

    Do know what shocked me about this article? Apparently we are the same age.
    21 years until I’m 70!
    70 seems SO OLD!
    21 years is not THAT long of a time!

    The realization of how fast time is REALLY going. That’s what shocked me about this article.

  • Karen Richardson

    I’m getting my first social security check this month, I hope. Was supposed to get my first check in November… Glad I’ve been saving for years so I should be okay. Remember that the amount of social security you get is based on 30 years of income so the greater your income the more you get. If course who knows how things will be in 20 years. I started out as a young woman very poor and have worked and saved my entire life so that I (hopefully) will never have to live like that again. Always had a side hustle and still do. Always wore my clothes out. Lived below my income most years. I am grateful that I was able to work and grateful I saved as much as I did and worked some tough jobs i hated until I could find something better. It’s not easy to save surrounded by others who don’t but I’m glad I made the choices I did. Made many mistakes along the way especially in investments but learned from my mistakes and kept reading and learning.

    Wish you the best and looking forward to your next post and book.

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