How Serious are Social Security Worries?

By Mike Switzer

Published August 20, 2019 at 5:17 AM EDT

For decades, the media has been reporting that the social security system is in trouble. And here are just a few recent news headlines:

“Social Security is running out of money, with benefits on track to be reduced by 2035” ABC News - April 22, 2019

“How much longer will Social Security last?” AARP - April 23, 2019

“Will Social Security be around when I’m ready to retire?” The Washington Post - May 6, 2019

So we’ve invited our next guest to help us take a look at the situation through Social Security’s recently released annual report. Mike Switzer interviews John Cooper, a certified financial planner with Greenwood Capital in Greenwood, SC.

Tags

Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

See stories by Mike Switzer