A social security account is vital to those who would have to retire, and they need to secure their own identification and credentials to receive the benefits from the government. Social security is important because it will serve as the monthly assistance of the government to those who are already of old age and do not have any jobs to earn money from. There is a reason why they are getting a small percentage of the salary, and these deductions will be used in a good way when the time of retirement comes. However, it seems like more people in the United States are having trust issues with their government when it comes to retirement benefits. As a result, the younger generation, referred to as millennials, are looking for alternative ways on how they can retire.
The reliability of social security accounts is slowly becoming a concern for the American public. David Giertz pointed out that these concerns are severely damaging the reputation of government retirement benefits, and if it continues to give a perception of distrust, especially to the public, there may come a time that no one would be willing to give off some of their salary for a future retirement benefit plan. One of the reasons why people are starting not to trust the retirement benefits from the government is because of the financial advisers who are not doing their jobs well. People trust them to report and state all of the issues regarding their retirement benefits, but some are choosing to keep their mouth shut when problems arise because they do not want to resolve it.
Being a financial adviser is now tainted with unreliability and distrust, and David Giertz is not happy about it. He stated that the issues between the financial advisers and the public must be addressed immediately, because it would have a negative effect to those who trust their services and to those who are working to get a retirement benefit. He stated that one of the things that the financial advisers should do is to build trust and prevent negligence. He added that if the millennials have seen changes towards how the financial advisers are treating their clients, they might change their minds and opt for the retirement benefits offered by these professionals and the government.