A program should be implemented for all working citizens in the USA to have an automatic savings plan, separate from Social Security, to help younger generations build a larger nest egg by age 55.
I watched the last video on the anticipated increase 3.8% to possible 8%. Hopefully we at least get a 5.9% increase again. I'm going to start collecting in December as I believe I get a 1 time check with no penalty, then next year while working just keep collecting. So I will either retire next May, or the following May, have not decided yet, but I am definitely starting in December. Now on this video I see them raising the full retirement age to as high as 70, but it could come in 2 installments. As far as filing I will have to file separate since my wife makes 6 figures a year and is almost 6 years younger than me. As far as the 55 year old viewer, well not sure what they make or the job skills, but I would definitely listen to your advice. With the markets where they are it would be a good time to invest all the extra money they can as I believe they will come back strong eventually. There really needs to be an automatic savings plan in place other than social security, especially for the younger population so when they are age 55 they have a bigger nest egg. I don't know why a program cannot be implemented for all working citizens of the USA.