“Many high-net-worth investors ignore one of the most powerful financial-planning tools available to them: Social Security,” writes Ash Ashluwalia in this past Monday’s Wall Street Journal.
He caught my attention. I’ve been assuming the system’s demise–and seeking to make alternative plans–since the mid-1980s, when I first learned from Dr. Gary North about how the program is really a Ponzi scheme and is going to fail, one way or another.
Dr. North pointed to comments by then-Sen. William Proxmire during a 1976 hearing. I have bolded the most relevant part: (more…)