Cash Flow Guys Podcast

This week I want to talk to you about what will most likely prove to be the most important topic of this year…. Let’s talk about you retiring someday...or not. This means we need to learn a little bit about Social Security and how the system works.  First, Social Security payments come mostly from two primary “trust funds”.  One is called the OASI which stands for Old Age and Survivors Insurance, the other is referred to as “DI” which stands for Disability Insurance.   According to a recent press release provided by the Social Security Administration on April 22nd 2020, both funds will be out of cash in the year 2035. That’s less than 15 years away...which basically means you will NOT be able to retire off social security at ANY age. But Wait...there’s MORE! In the 2020 Annual Report to Congress, the Social Security Fund Trustees announced: The asset reserves of the combined Trust Funds increased by $2.5 billion in 2019 to a total of $2.897 trillion. (that’s good) The total annual cost of the program is proje