Conservative pundit Ben Shapiro is facing criticism for recent comments he made on his podcast, The Ben Shapiro Show, suggesting that Americans should work beyond the traditional retirement age. Here’s the full story.
Is 65 Too Young?
During a recent podcast episode, Shapiro criticized the current retirement age of 65 in the U.S., highlighting President Joe Biden’s intention to seek reelection at the age of 81 as proof that retirement is not a necessary concept.
Retirement Rethought
“Joe Biden has technically been eligible for Social Security and Medicare for 16 years, and he wants to continue in office until he is 86, which is 19 years past when he would be eligible for retirement,” Shapiro stated.
Shapiro’s Background
Shapiro is a popular conservative pundit and the brains behind the website The Daily Wire – a site with 150 employees and a yearly revenue of $100 million in 2022.
Shapiro’s Controversial Claims
Shapiro called retirement “totally crazy” and said that the current retirement age is “insane.” He continued by saying, “No one in the United States should be retiring at 65 years old.”
Shapiro Sparks Debate
“Frankly, I think retirement itself is a stupid idea unless you have some sort of health problem.”
“Everybody that I know who is elderly who has retired is dead within five years. And if you talk to people who are elderly and they lose their purpose in life by losing their job and they stop working, things go to hell in a handbasket real quick.”
Trump’s Social Security Comments
His comments come days after presidential hopeful Donald Trump said that he’s open to cutting Social Security and Medicare in an interview with CNBC.
Fueling Shapiro’s Debate
Trump stated, “There is a lot you can do in terms of entitlements, in terms of cutting and in terms of also the theft and the bad management of entitlements.”
Financial Success
At 40 years old with an estimated net worth of around $40-50 million, Shapiro is well placed to offer his opinions on retirement as someone who has worked hard to achieve financial success at a relatively young age.
Sustainability Concerns
Shapiro believes that retirement is not a fiscally sustainable entitlement for the U.S. to offer its aging population.
He said: “You believe you should be able to work from the time when you are essentially 20 to the time when you are 65 – which is a 45 year period – pay in, and then you will receive Social Security benefits to support you and your family, your wife or whatever, for like another 28 years – that’s crazy talk.”
FDR’s Retirement Act
Shapiro argued that the current retirement age is outdated, as “When Franklin Delano Roosevelt established 65 as the retirement age, the average life expectancy in the U.S. was 63 years old. Today, the average life expectancy in the U.S. is close to 80.”
Life Expectancy Debate
Financial experts were quick to point out this mistake, explaining that average life expectancy was so low in FDR’s era due to mass amounts of child mortality, which drastically dropped the average.
Historical Context
In the 1930s, life expectancy for people aged 65 was actually around 77, indicating that the retirement act was created with the intention of allowing at least 12 years of social security.
Demographic Trends
The CDC estimates that life expectancy nowadays is around 77.5 years, while the population of Americans aged over 65 was 58 million in 2022, a figure that is estimated to reach 80 million by 2050.
Aging Population and Retirement
New figures (dated December 2023) from the Department of Housing and Urban Development indicate that 1 in 6 homeless adults are near or have hit retirement age.
Leadership and Age
Shapiro ended his critique of retirement by stating, “I fail to see how a country in which our entire leadership class is 80-plus is telling you that we should have a retirement age of 65. It makes no sense at all.”
Conservative Backlash
Some conservative commentators disagreed with Shapiro’s analysis, offering their own rebuttals, which prompted him to make a follow-up social media post.
Social Security Critique
He called Social Security “a Ponzi scheme that is 100% going to bankrupt the country,” a sentiment shared by Stephen Moore, a prominent right-wing economist and co-author of Project 2025’s mandate for leadership – a playbook to shape a Republican presidential transition.
Conservative Coalition’s Influence
Project 2025 is the work of “a broad coalition of over 70 conservative organizations,” according to its website.
Divided Opinions
Shapiro’s comments have divided opinions, with many supporting his assertions and many against. It’s clear that social security programs will play an important role in the upcoming November elections.
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The post Ben Shapiro Says Retirement at 65 Is ‘Unrealistic and Unsustainable first appeared on From Frugal to Free.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
