I think the function of the social security administration to collect and distribute retirement, disability, and Medicare benefits should be dissolved and handed over to the individual states. Scandinavian countries are always pointed to, saying, “ Hey look. They  have if figured out, and it runs beautifully. We should model it after them. ” I firmly believe that a federal system for health care and benefits will not work in the US because our country is too big. We have a much (very much) larger population. We are spread out over one of the biggest countries on Earth, and our medical records are a messy spider web of platforms that do not communicate to each other. I think these reasons simply make it inefficient to govern social security benefits on a national platform.

I realize that the little I know of the social security benefits system is biased. I think it has been tainted by books that I have read by financial gurus that talk about how the system will fail because there is not enough money in reserves to survive after handing out benefits to all the baby boomers. Basically what these authors say is: there are too few Generation Y and Millennials paying into to the system to support the Baby Boomer’s monthly benefits, so that by the time it comes for us (Generation Y and Millennials) to tap into our social security benefits, the system will be bankrupt.

According to Jamie Hopkins, a professor at The American College’s Retirement Income Program, “Social Security will change because it is unsustainable at its current rate.”

Is this true, or dramatized? I don’t know. I want to learn more information from non-biased financial gurus about the financials of the social security benefits system. Does the social security administration publicize any projections that can shed some light on this issue?

I do believe social insurance is important in a nation, because it acts as a safety net for those individuals who do not have enough money for basic necessities. We need to take care of our citizens. However, I advocate that we do it in a more efficient way, which I believe is to break up the federal social insurance program into 50 individual social insurance programs (one for each state) that collects the taxes and distributes them as they best see fit for their state. For example, the taxes needed and service needed in my state of South Dakota is vastly different from those needed in California. Separately, states like South Dakota can come up with programs and systems that are customized for their demographics and state specific issues.

Millennials, are you planning on having social security benefits in retirement? Do you believe the social security benefits system will survive until we reach retirement age? According to a survey by the Pew Research Center in 2014, half of milennials surveyed believe that Social Security will go bankrupt before they retire.

There are two sides to every story. What’s the government’s stance on this issue? That is hard to find out! According to this Huffington Post article, government data on tax income pointing to a continuation of about three-quarters of scheduled benefits through the end of 2089, millennials will likely receive some Social Security — just possibly not as much as Americans receive now.

Whose right? I don’t know.

If you come asking my advice, I will say: “My fellow Millennial friend: do not count Social Security benefits in your retirement plan. If it’s still around, it’ll be a bonus.”