The future of social security - KPLC 7 News, Lake Charles, Louisiana

The future of Social Security

(Source: MGN Online) (Source: MGN Online)
LAKE CHARLES, LA (KPLC) -

Social Security has provided many Americans with a comfortable retirement, but what does the future of the program look like?

Sam Hebert is a financial planner and said the future of Social Security doesn't look promising for future generations.

"A lot of people are concerned about Social Security. Will that promise that the government made to us be when there we retire? And a lot of people think that's not the case," Hebert said.

He thinks the program needs to be reformed and fast.

"For Social Security to be viable, like anything else, you've got to have more money coming in than you do going out. And we're having more money coming out of the Social Security system than what's being put in."

Given the uncertainty surrounding Social Security, many young people have shown concerns about their retirement plans, and some don't even know where to start.

Mass Communication student, Avery Pousson said, "It does worry me, because I want to have a strong confidence in my life so I don't have to worry about things in my life after I decide to not work anymore."

Electrical engineering student, Tyler Austin, is also unsure when it comes to planning for the future.

"I don't have any plan at all actually ... it's not something I've even thought about as of now," Austin said.

With the future of Social Security in question for the young people of today, Hebert said there is one solid way young people can prepare for their retirement.

"It's always a good idea to take care of yourself. And the best way to do that is start saving ... start investing. The younger you start, the easier it is," he said.

A lesson which many young people are already taking to heart.

Avery Pousson said, "I also plan to save a lot of money on my own ... be frugal throughout my life and hopefully, I can figure out whatever may happen in the future because it's really unpredictable at this point."

Copyright 2013 KPLC. All rights reserved.

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