America's retirement crisis is biblical in proportions.

And there is a wonderful article that talks about some possible solutions;That won't work.

The 401K is a complete failure, and pension should not be controlled by your employer.

When you give someone else access to your money they tend to want to steal it for themselves.

your social security account needs be yours to control.

The social security system's biggest problem doesn't get talked about, but I would like to talk about it.

Social Security is done ass backwards, it kicks in at the end of the person's life and it tries to make up for any shortfall in a person's savings.
This leaves the burden on government too much and goes against
The basic idea of investing for the long-term using compound interest.

For sake of argument let's say the average person is going to collect $120,000 in Social Security benefits over his/her lifetime.

What if we took that $120,000 and instead of giving it to them at the end of their life, we gave it to them at the beginning?

Imagine, on the day after a child's birth Social Security deposited $120,000 Into a fund paying 5% interest compounded annually.

By age 20 that would be 318,395.72.

Of course the money cannot be touched by the child or the family.
It will simply grow at 5% interest
Untill the child begins to work.
There would be no option to withdraw it earlier.
$120,000 growing tax free
At 5% interest compounded annually.
At age 50 would be
$1,376,087.97

As a working adult 5% of his income will be forced into this account adding
To his account compound at 5%
His/her Social Security account would grow tax-free.

Let's figure out a 5% on an average income of $40,000 a year.
That would be a contribution of around $2,000 annually.
at age 50 the total would be
1,508,962.54.

So even if the very poor could not contribute anything to their retirement they would have over a million dollars by age 50!

This is the biggest best change we can make to Social Security.

Simply put the money you're already spending at the end of the people's lives

Investing it at the beginning and let compound interest do the rest.

Then everybody can choose to retire at 55 or not.

The Federal Reserve guarantees Banks an 8% rate of return.
So the government could guarantee a 5% rate of return no problem.

https://www.google.com/amp/amp.usatoday.com/story/100185208/