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You know the saying, ‘Past behavior is the best predictor of future behavior’? Well, if that’s the case, then there’s a rude awakening ahead for America. And no, I’m not talking about global warming or a killer asteroid. I’m talking about Social Security going bust. The trustees for Social Security have once again issued their annual report. And just as we’ve expected, the system is set to crumble by 2035. That’s right, our trusty safety net won’t be able to meet its obligations in just a few short years.

It seems like great news that this projected shortfall happens a year later than previously reported. The whisperings echoing down the halls of government are that little tweaks and changes can magically rectify this monumental issue. But here’s the raw reality, folks. The Social Security system is an enormous, intensive machine, gobbling up an annual expenditure of $1.2 trillion. It’s the single biggest government program out there. So, minor little adjustments are frankly a drop in the colossal financial ocean we’re looking at.

Imagine being a young worker today, fresh on the job, filled with ambition. But right off the bat, 6.2% of your paycheck is deducted for Social Security, with the employer forced to match the contribution. Both funds flow into a system on life support. It’s like being charged at a restaurant for a meal you’ll never get to eat, all the while knowing the restaurant is going to close shop before your reservation date.

Historically, Social Security wasn’t supposed to morph into this treacherous financial quagmire. It began in the 1930s with over 40 working Americans to every retiree. Now, due to longer lifespans and declining birth rates, we’re looking at a little over three workers for each golden-ager. So, you tell me, how is this sustainable?

The concept of Social Security may ring hollow for upcoming generations who might view it as a government tax and spending program. Forced to pay in, they’re unlikely to see their contribution back. That’s a far cry from the noble idea that Social Security started with. Despite years of alarm bells ringing, it’s clear that saving the system, by either increasing taxes, raising retirement age, or slashing benefits is just kicking the can down the road. Are we just delaying the inevitable?

Here’s a better idea. Why not insistent on people securing their own future in retirement? Not by emptying their wallet for an unstable system, but by allowing individuals to use their payroll taxes to invest in personal retirement accounts? The freedom to navigate self-secured retirement has been caged too long, it’s time to release it.

There are huge benefits, folks. The equity markets could bring a higher return over a 45-year working life than Social Security. On top of that, trading paper for stocks could start to level the disparity in wealth between Black and white households. It also ties us all back to our American system of capitalism.

In conclusion, the Social Security system needs an urgent revamp to stay alive. A nationwide personal investment program in lieu of the present model could be the game-changer we need. The only constant in the world is change. It’s high time we embrace it.

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