Epic Real Estate Investing - This Social Security ‘Glitch’ Just SCREWED You | 1461

Episode Date: April 5, 2025

In this episode, an alarming social security scam is laid bare by Elon Musk and Doge, with former President Trump amplifying concerns. The episode delves into the astonishing waste and fraud within the Social Security system, revealing millions of fictitious entries in the database. With claims that the U.S. could be losing $500 billion annually to this fraud, Matt discusses the implications for the retirement system and those who depend on it, like Dave. Despite government assurances, the episode questions whether significant reform can be accomplished. Finally, it pivots to financial independence strategies, emphasizing the importance of controlling one’s financial future amidst systemic instability. Learn more about your ad choices. Visit megaphone.fm/adchoices

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Let's go. Elon Musk and Doge just exposed a social security scam so big Trump had to get involved. But the real shock? The government's response or lack of one. This just in, Doge volunteer credits Trump for unprecedented effort to curb jaw-dropping social security fraud. And we are working very hard to stop it.

We're going to. The government is not efficient. And there's a lot of waste and fraud. It is astonishing. It's mind-blowing. just we routinely encounter wastes of a billion dollars or more, casually. Yeah, like Elon said, the minimum impulse bit is often a billion dollars. This isn't fringe conspiracy stuff.

This is Elon Musk's team, digging through the Social Security database and finding millions of entries that flat out don't make sense, or dollars. Let's break this down. According to Doge and confirmed it by the government accountability office, the U.S. may be bleeding out $500 billion a year in fraud, and a lot of it is hidden inside programs like Social Security. We're also identifying shocking levels of incompetence and probable fraud in the Social Security program. Trump listed it out like this, and these are his words, not mine. 4.7 million people aged 100 to 109, 3.6 million aged 110 to 119, 3.47 million aged 120 to 129, 3.9 million,

aged 120 to 129, 3.9 million aged 130 to 139, 3.5 million aged 140 to 149. But wait, it gets better or worse. 1.3 million people aged 150 to 159 years old, 130,000 people over the age of 160, and yes, one person listed at 360 years old. That's more than 100 years older than the country itself. I don't know any of them. I know some people that are rather elderly, but not quite that elderly. Let's get real. Even if you think it's just bad data, this is a retirement system built on numbers that don't even match reality. And that's terrifying. Social Security was created in 1935. Back then, life expectancy was 61 years old. Today, it's pushing 80. That means the system was never designed to cover 20 to 30 years of retirement. But here we are, with millions of fake, outdated,

or dead entries. And the government says, don't worry, no one's actually cashing the checks. Now, we couldn't find any evidence of payments to 150-year-olds. Trump called it out. A lot of money is being paid out. It just keeps getting paid and paid, and nobody does anything about it. And he's right, that hurts Social Security. It hurts the people who actually depend on it. But we're going to find out where that money's going, and it's not going to be pretty. This isn't just a broken system. It's a leaking pipe in your retirement plan. The SSA says, the fraud isn't real, that these records are just old. No one's getting paid. Nothing to see here.

Now, we couldn't find any evidence of payments to 150-year-olds. But if that's true, why are Elon Musk the Doge team and President Trump sounding the alarm? And why haven't we fixed it? Why are we still talking about 140-year-old ghost retirees in 2025? And to make things even more chaotic, new lawsuits are piling up. Disability rights groups are suing the government, claiming Doge's cost-cutting moves are hurting real people, the very people who rely on Social Security the most. And just last week, Doge was accused of shutting down field offices, canceling leases, and essentially breaking the system even more, all in the name of fixing it. Regardless of which side you believe, the bigger problem is this. Why are you depending on this in the first place?

Let me tell you about Dave. Dave, not his real name, but he's a guy that I'm working with, and he worked for 40 years. He paid into the system, played by the rules, and retired last year. a month from Social Security, $300 from a small 401k. His expenses are $3,200 a month. As you can see, that's a problem. And then he saw this story in January stating that the trust fund reserves used to pay beneficiaries are projected to become insolvent in 2035. And that without congressional action, retirees will only receive 83% of their full benefits. Dave told me he won't survive a 17% hit to his income. And now he's watching all the fraud stories in the news cycle right now. He's doing the math and he's realizing he's going to be short, really short, every month. And if

checks get delayed, he's done. And this isn't a hypothetical. Millions of people are quietly slipping into poverty because they built their future on promises that were never real. Now, to be fair, not everything coming out of this is doom and gloom. Trump administration officials are claiming that as a result of this crackdown on fraud, legitimate social security recipients could actually see more money, not less. What we're doing will help there. benefits. Legitimate people as a result of the work of Doge will receive more social security, not less. And that's a bold promise. I want to emphasize that. As a result of the work of Doge, legitimate recipients of social security

will receive more money, not less money. Millions of seniors are now hopeful that they'll get bigger checks, but they're also confused. Because just last year, the news was screaming about cuts, not increases, not politics, just math. The trust fund was projected to go insolvent. That meant a 22% pay cut for over 70 million Americans. Yeah, the bad news is the Social Security runs out of money by the time I retire, runs out of money in 2035. Now you've got one side saying you're going to get more,

the other side saying you're going to get less. And the system itself, it's crashing, literally. The Social Security Administration website crashed four times in 10 days this month. So who's right? Will you get more money or nothing at all? Here's the truth. They're trying to fix decades of dysfunction in months. I mean, imagine throwing dirty laundry on your floor for 30 years and then trying to clean it all up in one afternoon. Yeah, it's going to get messy.

That's what Doge is up against. Tens of millions of fake or outdated records. Entire government systems written in Cobol, a programming language from the 1960s. There were some great people working at the Social Security Administration that found this 2008, and nothing was done. And now they want to rewrite it all using AI in three to six months. If they pull it off, maybe we get a better system. Maybe your check goes up, but let's be real. It's a big maybe.

And even experts say, there will be glitches, there will be delays. So you can hope for a better check or you can build a better income. I say this because I used to believe in those promises too, until I started investing in real estate, not for some flashy flip or fast money, but for income that I control. Today, I don't panic when headlines like this drop. I don't worry about the next check because I built a system that sends one to me automatically every month. And now I'm helping Dave build his own system too. First property already in the bag for Dave. Now, I'm not saying social security is going away tomorrow, but I am saying if your whole plan depends on it, you're already in trouble. Because here's the deal. If you don't take control like Dave has, your future is at the mercy of a system that's already buckling under pressure. There's a lot of uncertainty when it comes to the markets right now. But here's what is certain. People will always need a roof over their heads, and they're either going to buy that roof or they're going to rent it, and fewer and fewer people can afford to buy it, so they'll have to rent. That's the

direction the country is headed. If you're in your 60s, or even your 50s, or even your 40s, there's no more time to waste. The system you thought would be there might not be, or at least not in the way you were promised. Taking control of your financial future isn't just a good idea. It's Survival Strategy 101. And when you look at what's happening, a massive housing shortage, rising rents, population outpacing construction, real estate becomes an obvious choice. You don't need a crystal ball to see it. The right strategy, the right funding, and the right guidance. This could be your moment. If you need any help with that, let me know. All right, I'll see you next time. Take care. And that wraps up the epic show. If you found this episode

valuable, who else do you know that might too? There's a really good chance you know someone else who would. And when their name comes to mind, please share it with them and ask them to click the subscribe button when they get here and I'll take great care of them. God loves you and so do I. Health, peace, blessings, and success to you. I'm Matt Terrio. Living the dream. Yeah, yeah, we got the cash flow.

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