Investor and author Al Jacobs contends that the Social Security system has been flawed and doomed from the very start.
Jacobs, a professional investor and author of the book “Roadway to Prosperity” essentially opted out of the Social Security System after the Reagan administration took charge in Washington, D.C.
From that time on, Jacobs has contributed only minimally to the system, while retaining a vested interest in both Social Security and accompanying Medicare benefits from the U.S. government.
“Social Security provides necessary security for those who have worked until they are 65 and not accumulated enough savings to live on,” says Jacobs, “but for those who have accumulated the means to do without Social Security income, they’d be wise to extract themselves if they are able,” he said.
Jacobs says there are many reasons that the U.S. Social Security System was in trouble from the start.
Here’s his look at