Yes DWW, something stinks about the whole system. See they teach you that working hard and making your own way is noble, but rich people don't think this way, they make others work for them, and also make there money work for them, and know all the loop holes in the system, if you want to know what they are get an ex tax attorney to be your solicitor.

What did everyone think was going to happen? Companies stopped offering pensions to regular employees decades ago. Experts pointed out that Social Security was a ponzi scheme around the same time, and then showed us the mathematics that explained how baby boomers propped up the system and it was going to implode once they all retire. The youngest boomers will be turning 65 in six years. If you are Gen X, unless you did a really long stint in the military, and miraculously survived unscathed, worked at a decent government job, or got super lucky with an employer in the public sector that offered you a nice pension (I'm fairly sure these DID exist for some of gen x), you might as well forget about retiring. If you are a millennial or gen z, it probably ought to be one of your lesser worries. But you know what? Retirement never even existed outside of the military and maybe a few police and fire departments prior to the American Civil War (or the 1870's in Europe). It's a luxury, and no one should have ever felt entitled to it in the first place. Social Security tax here in the USA was always just a slush fund for government spending anyway - no one ever truly expected it to pay a comfortable livable income anyway.

I get basic social security disability insurance and I'm able to live just fine on less than 1000. a month because of government housing programs for the poor. I guess it depends on what you consider "decent money"? And frankly I'd be thankful if I were healthy enough to be able to go to work at 67!! I was diagnosed with degenerative joint disease in my back at age 40. I could no longer work by 50. But by then I had a lot of other ailments. Maybe they need to learn how to live on less so they can retire. If they had less income they might qualify for more government assistance. Maybe it comes down to choosing retirement or things. I'd have to have more details to help them.

Well...yes, but typically (definitely not always) this is due to financial mismanagement, due to living paycheck to paycheck rather than saving money and preparing for retirement. That's not always the case, as I can attest! (Though I've not reached 67 yet and still hold out some small hope...)

If you saved and invested when you were younger, you can retire at almost any age.