Mark Kohler says Social Security will exist but won't provide meaningful money for people in their 20s to 40s. He recommends saving, building side hustles, investing in businesses or rental property instead of counting on it.
Do you think the younger generation should be planning on Social Security as a resource?
No. Now, am I saying that Social Security won't be there? No, I'm not saying that Social Security is going to be there. As long as the US Government is operating, there is no way they're going to let Social Security go away. There is no politician that would ever go to Washington and ever kill Social Security. Social Security will be there, Tyler. And all you young people in your 20s, 30s and 40s, start saving now. Building a side hustle, buying rental property. Start getting good at something you're passionate about and making money on the side. Will Social Security be there? Sure. But it is not going to be a resource. My definition of a resource is it's impacting your life. Social Security is not going to impact your life now or 10 years from now or 33 years from now. It'll be there, but people do not lie on it. The truth about Social Security, if you're a young person, don't freaking worry about it. You think about your side hustle. You think about your investments in your business. That's what people you should be thinking about. That's the truth about Social Security.
The secret to managing your family's future #financialfreedom #estateplanning #shorts
Moving Property to an LLC: What They Don't Tell You #realestate #investing #tips
