Republicans Want To Postpone Social Security - 149

The Option Genius Podcast: Options Trading For Income and Growth

So this week, we have two different high ranking Republicans who want to raise the retirement age in the United States. That's what we're talking about in today's video. If you enjoy these type of videos, if you want to learn about retirement and how to make more money so that you can retire more comfortably, please go ahead and subscribe to the channel. Appreciate that it would really help get the message across, we can get more information to you. So now let's talk about what's going on. So earlier this week, Nikki Haley who is running for president, actually, she's running for the nomination to eventually run for president. But she's a very high ranking Republican, big in the circles and she made a comment that she wants to raise the Social Security entitlement age when you can collect social security higher than 67. Now, it used to be 65. Now it's 67. She wants to raise it even more.

And then on the talk shows CNN asked Nancy Mace who is a Republican Representative from South Carolina if she agreed with that. And then she was like, yeah, definitely, we definitely need to do this because Social Security is screwed up. The Republicans and the Democrats have screwed it up, and we need to fix it. Now. Nobody's going to argue that it needs to be fixed. But with Nikki Haley's version, she wants to change the retirement age, not for older folks, but for people in their 20s. Right, because people in their 20s don't vote Republican.

So yeah, okay, that makes perfect sense for you. But yeah, there's a problem there. It needs to be fixed. Social Security is, I mean, we've been hearing rumors about its demise for years, is it gonna happen not happen? Eventually, somebody's gonna have to come in and fix it, because we don't have any other options for most of the people in this country. Now, unfortunately, we're not the only ones in this boat. France this week, President Macron he almost single handedly passed a bill or law, whatever, that they are going to raise the retirement age in France from 62 to 64. And that has led to massive protests, and strikes all across the country, the garbage sanitation workers they're on strike, there's garbage piling up all over the country, the bus, drivers union, they're on strike, buses aren't running all kinds of crazy stuff is happening, because people are enraged. People are scared.

People are. I mean, they that's the biggest fear that people have. They're not fear of death, they're not scared of public speaking as much as they are afraid of running out of money in retirement, and becoming a burden to their family or somebody else. And it's very legitimate, you know, I'm going through a personal issue right now with my father who, for the first time in his life has become dependent, he has some back issues, he can't move. And it's driving him crazy that he has to be reliant on nurses and help and other people to even move around to even go to the bathroom. And it's mind blowingly depressing. You know, if you have read the Passive Trading Book, which you can get up passivetrading.com. If you read the book, you know that Social Security was not supposed to be gotten in the sense that when they came out with Social Security, they set the retirement age at 65. But at that time, most people didn't live to 65. And so yeah, they didn't really want you to get in Social Security, right? But it was good for votes.

Now, people are living well past 65. So almost everybody gets Social Security. And it's only getting worse. I mean, I'm 46, myself, and I plan on living to 120. So I mean, let's say if I got in, and I started working at the age of 26, or 21, whatever, right? And I'm going to retire at age 65 or 67. I'll have put in a certain amount of money, but then I'm going to take money out from 67 all the way to 120. So I'll be taking a lot more money out that I put in, and so will everybody else. And so yes, somebody definitely has to be done with Social Security.

But I for one, am not sure that the government officials, even though they're elected, these politicians are the ones that should be creating this stuff. Yes, they have people that are experts, supposedly they're advising them, but it comes down to the lobbyists, right? Whoever's got the biggest lobby, Wall Street, the banks, investment companies, they're the ones that are going to set the policy and it's really a shame, but that's how it works. So here's what you need to do and here's how it should be. Okay?

The proper way to look at social security is that it is the cherry on top of your retirement planning sundae. So you got your ice cream, you got your hot fudge, you got your nuts, I love my nuts, and you got your whipped cream. The cherry on top is Social Security, you might get it, you might not get it, but you shouldn't need it. Too many people in this country are only living on Social Security, that's the only income they have, they have no savings, they have nothing else. They're only living on Social Security, and their life is miserable, they're already miserable. And it's only going to get worse because they might raise the age of social security. Or they might lower the benefits or a combination of the two. That's scary, right?

If you need a certain amount to live on, you got your medicines, you got your rent, you got all your stuff, and then you have less money coming in automatically. Now these are folks, they can't go back to work, because they're too old. Or they're not capable, healthwise, or whatever reason they can't find a job. You know, these are the people that are working at Walmart as the greeter. Yeah, that's an easy job. You stand there all day, but your knees hurt like crazy. And it's not fun. And I don't want you know, my father or my mom or anyone else to be actually having to do that. So what do we do? What do you do? Well, it's laid out in the book, passive trading, you need to take advantage of what's out there, you need to take advantage of the situation now, as soon as you can.

Today is the only day you have, you can't do it tomorrow, can't do yesterday, you need to start today. And so you can watch the other videos on this channel, you can head over to option genius.com. You can listen to other episodes of our podcast, but you have to get started. Right? There's nothing else. And if you're having trouble, reach out to us last for help, say what do I do, we're coming out with more and more products that are speaking to the market. And one of the ones that we're thinking about, and I put this out to one of our groups, and I said, Hey, look, I'm thinking about doing a workshop, you know, maybe 3-4 hour workshops, I'm going to cost a lot of money. And basically the title is How to retire on one stock. And people went nuts, they're going, Oh, my God, that would be so amazing, I need that I need that that would be so great. Because it's all about simplicity. That's what we teach anyway, you know, you're investing you're trading should be simple.

If you cannot explain it to a six year old, it's too complicated, right? If you have to tell them all the way when this when this X goes through this line, and this thing chops up, and then this beep goes off, then and I put this trade on, and I can I have to get out. It's too complicated. It can be simple. And it doesn't have to take a lot of time. We have people doing it all the time. And we're actually starting a hedge fund that is going to be doing it exactly the same way that we teach it. So if we can do it with millions of dollars, I'm sure you could do it with your account. And I'm sure you can figure it out. And you can learn because we're willing to teach you we're going to teach you exactly what to do. So yes, the Republicans and the Democrats are going to be talking about this, you're going to you're going to hear about this, in the future, as the elections come closer, it's probably going to be a debated topic.

If not, it's going to happen, eventually, something is going to change has to change because the government, unfortunately, they're paying out a lot in Social Security. And they're not that good at investing the money. So yes, they could probably print a lot more money and fill it up with Social Security or some old bonds or whatnot. But that's just going to put the country deeper and deeper in debt. And if that continues, eventually that's going to stop as well. And then the country will go broke and then Social Security will go broke and then it'll just be worse. So hopefully, whatever they come up with, they don't kick the can down the road, they fix it, they solve it, they do the issue, but I have Well, I'm not holding my breath. For these Republicans to kick, you know, dissolve it. They're probably just gonna keep kicking the can so it makes good headlines. You know that, oh, hey, we have a problem. We have a solution to this problem. Yay. And for those of you who are voting for us, it's not gonna affect you. Yay, it's gonna affect your kids. Oh, wonderful. So they're, they're going to suffer.

But at least you don't vote for us. So we're good. That's what the Republicans think. Democrats are gonna think the opposite. They're going to try to come up with some other way. But something has to be done. Hopefully, it will be done better than worse than, you know, something good is gonna come out of this. But in the meantime, don't hold your breath. You need to take action. So hopefully, you've already started. You know, you're putting money away. You're saving money you're investing, learn to trade. Start with one strategy. Maybe it's a covered call, maybe it's a naked put, whatever it is. Is pick one strategy, we have plenty of them to choose from, and start working it, start making some money and compound it and watch the other videos, watch our podcast to see how that money works, how the strategies works, how it compounds, and then we'll need that silly little cherry on top. I mean, the way that I don't even like those chairs, to be honest, though it's all processed, it's not a fresh cherry the sauce on it is like nasty. So I don't want my my my Sunday my beautiful ice cream sundae messed up with that cherry anyway. But in terms of extra money, sure if it's around, when I'm 67.

And who knows, maybe 69. So I don't know when they're going to change it. But for now it's at 67. If it's still around, sure, I'll take it. But I'm not holding my breath that is gotta be there. And I'm not planning to rely on it. And neither should you. So ask yourself this question. You know, do a thought experiment Einstein used to do these all the time, right? What is going to happen if you CANNOT collect Social Security? Ask yourself that question. This is a thought experiment-- financial planning, retirement planning thought experiment? What will happen to you If you do not, CANNOT collect Social Security? Whether it's not there? Or you don't qualify? Whatever. What's going to happen to you? When are you going to retire? If are you going to retire? Will you be able to retire? What's going to happen if you can't work anymore? What's gonna happen? It's not fun to think about. But you have to, because nobody's going to care about you, like you, nobody's going to take care of you, as well, as you'll take care of yourself. And you do not want to be dependent on others. Okay, I hope I got through. I hope, really, that it hit home, and that this message works and you start getting to business? Just do it just start. Even if you lose some money in the beginning, that's okay. People do. It's normal, you know, when you're learning something new, it's not gonna be perfect, you're not going to get it right, every time of right off the bat is going to take some time. And that's the problem that people wait too long to get started. We have emails almost every week from somebody, well, you know, I'm going to be retiring in a year, and I want to learn how to do this stuff. So yeah, that's great. I wish you would have started 20 years ago, right, then you would have really had a big ass nest egg, and you wouldn't have to worry about anything. But even if they're 6465, and they're starting now, hey, they got plenty of time to learn this stuff. And it's simple. It's not easy. It's simple, simple to understand. And then you got to learn it, get through the experience, put the trades on, master some strategy. And then you don't have to worry about Social Security. You don't have to worry about what the politicians are going to do with it, and your life will be much better. There'll be less stress, less headaches, and less worry. And that's what I want for all of you. So with that said, I wish for all the trades to work out in your favor, but if they don't at least trade with the odds in your favor. Take care. We'll see you next time.