Tired of not having the financial freedom to live the life you want? The Free Retiree Show helps listeners excel in their career and financial lives so they can live the life they’ve always dreamed. Lee Michael Murphy, wealth manager, is joined by career advisor Sergio Patterson and attorney Matthew McElroy. Tune into their weekly show as they give you entertaining and valuable advice, and help you filter out the BS in their respective fields. The Free Retiree Show has four pillars to help listeners achieve success: career advancement, money management, avoiding detrimental mistakes, and learning from a successful business and thought leaders. Each episode shares valuable insights from experts and brings you interviews from some of the most successful people in business. Join us as we learn how to become free retirees.
Wednesday Oct 13, 2021
Wednesday Oct 13, 2021
MONEY MANAGEMENT EDITION
When you retire, what will Social Security be like?
American citizens have lost hope that there will be anything to see. In a Gallup poll conducted in 2021, 43% of respondents said they were concerned about Social Security.
According to a study conducted by the same firm, 38% of respondents believe that Social Security is going to be their biggest source of income at retirement.
Can you imagine how Social Security will look in the future? Should workers be concerned?
Many younger workers are concerned that, when they retire, they won't be able to collect social security. While they have contributed to the retirement system for years, they fear that when they retire, they won't have any money left. In the Social Security Trustees' annual report released in April 2020, the trustees noted the potential for social security to become insolvent within 15 years. Moreover, the current COVID-19 pandemic is probably depleting reserves, too.
With such reports, it is inevitable for American workers to fear what the future holds. But for bestselling author and Boston University professor, Laurence Kotlikoff, it is important to understand social security, prepare for the future, and more.
Join us and as Prof. Kotlikoff discusses the importance of understanding social security and how the system works and what we can look forward to in the future with hosts wealth manager Lee Michael Murphy and career advisor Sergio Patterson. Tune in to this week’s episode of The Free Retiree Show.
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