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“Dave Ramsey Show” host Dave Ramsey on why, with rising government debt, you need to take responsibility for your own retirement.
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While the politicians in Washington squabble over Republican Paul Ryan's Medicare plan the fiscal clock continues to -- on that and America's other major entitlement programs like.
Social Security now.
Both are expected to run out of money just within the next quarter century unless congress steps in -- it to shore them up and.
Dave Ramsey says you know what you cannot count on the government to come through -- to be taking steps of right now.
To protect your own retirement.
How do we take that into our own hands and protect ourselves because we know the government either can't or won't.
Well I think mathematically we've got to understand that that is Social Security going to be.
What it is today when we reach retirement the answer is no.
That's not a political statement it's not a philosophical statements of mathematical statement.
That's not that we're going to run out of money we've already run out of money the public is now demanding that congress balance the budget.
In order to balance the budget if you do away with all federal programs all of them except Medicaid Medicare social security and defense.
We still didn't balance the budget.
So it's impossible mathematically balanced budget and not touch.
This this sacred cow it's going to be touched now that we've said that that's not a scare tactic to tactic you taking care of yourself.
Is there's nothing wrong -- that anyway so get your Roth IRA start funding your 401K.
Start living on less -- you make -- saving some money.
Don't plan on the government taking care of you which is well known for its ability to handle money this is silly.
Alright well -- there was appalled that not so long ago among young folks are under thirty and so -- -- said.
They expected more likely to see -- UFO event ever get a Social Security check when they retire they they may well be right -- because for the reason you're saying some people are planning.
Their own sort of pension funds or private pension funds whether it's itself fortified or or fortified by their company however Medicare.
Everybody is is thinking that you know hopefully some of the cost will be picked up.
On my health care costs when -- all but you're saying no we have to do a double duty prepare for Social Security our -- Social Security checks and it.
Our own health care checks.
Well I think we've all pretty much established that we can't keep spending more than we make in this country.
If we continue to do that long term there's a word -- it's called bankruptcy.
And the only way to not spend more than we make is to do it to modify these programs.
I don't like it it means there's some sweet people will depend on these things they're gonna have some pain in their life I'm not fond of that idea I'm not mad about this.
But it's just a mathematical fact it's like you know a couple that's -- themselves in the 300000 dollars in credit card that it's a mathematical fact they're gonna have some sacrifice to get out of the mess.
Outside David one of the things that you just said always jumps out at us and you said start living on less then you make.
And then what putting that extra money where to prepare to plan to bullet -- what we know will be a barrage of -- hail storm coming out of us.
Well again I'm not really worried about a hail storm in this case because I've got a storm shelter it's called wealth.
You know I went to save some money -- social fund -- Roth -- fund your 401K and good growth stock mutual funds.
Get yourself out of debt get an emergency fund.
Take control of your own life don't be sitting in.
It -- fretting about the government taking care -- you have you ever seen anything they've done that was really high class I don't wanna live in subsidized housing.
I don't want the level of service that any government agency provides us something major in my life that I'm looking for.
So the only way to do that is what you said to buttress yourself is to go out there and invest in a 401K.
You know -- -- fund your 401K it's later in thirty bucks a month that's a lot of money you can't do that if you got a Tahoe payment.
And so you've got to get your own act together and not be leaning on the government into your future then you get to have this neat thing called a future.
Sell the -- however body but Dave Ramsey says sell thanks David great to see appreciated they have very much.
