While I agree it's not a realistic view given our current welfare state - it might just take something radical like removing the societal welfare to force people to plan for their future. For example, if said person blew their money and became destitute - their only salvation would be charity. The only reason we are in this mess is because of government putting us here. Now government is supposed to be our savior by legislating the problem THEY caused in the first place. What did people do prior to 1935 without Social Security? What did people do to survive before the 1930's welfare, food stamps, etc? Apparently they dd survive enough to increase our population, wealth and strength of this country.
My point here is, we cannot see our way free of the last 80 years of welfare creation. Government isn't the answer it's the problem. Here's a solution: Provide an opt out solution with the goal of dissolving SS in 20 years. Allow a 2% of the population (maximum) to opt out and require them to take at a minimum 50% of the money they no longer will be paying into SS, to now be put into a retirement account which they cannot withdraw from, but CAN invest. This 2% can change their mind and opt back into SS (with a penalty) in a 5 year time frame. [edit] Increase the % over time to include 100% of all workers in the 20 year period and issue a pay back for residual money left in the system - then close down SS. (Sorry - i didn't finish my thought on this)
In my case, I'm not counting on my SS to be there and am investing in my retirement on my own. I have another 23 years before I would be eligible to get SS benefits but I've mentally and fiscally already written all the money being paid into that system as non-existent. Were I to have that money available, I think I could do a better job with a better return than the government. The government however, needs SS to continue as it's a slush fund to use as they want instead of for their constituents retirement. Therefore, you and I and everyone else who's worked or is working or will work is being ripped off. Sorry if I'm not happy about that.