Employees who are bound to retire must have a social security account, and it is an important matter. The reason why the government is taking up a small percentage of someone’s salary is because over time, this amount would accumulate, and once an employee retires, they would be able to support themselves financially through the retirement pension. However, an American businessman and entrepreneur, explain that the American people are having problems and challenges with their social security system. He is referring to the thinking of the majority of the Americans, and their approach towards the need of having a social security account.
David Giertz is pointing out that the American people have been developing concerns regarding the reliability of social security accounts, and how they are blaming their financial advisers regarding this matter. The financial advisers today are miserably failing because they are not doing their jobs properly. They never had the initiative to explain why a social security account is important. Only a few people knows the benefits of having a social security account, and the majority only thinks about it as another way on how the government can take something from their hard work. The financial advisers that are being hired by people today are having issues with understanding the rules on social security, because they simply cannot digest all of it in one sitting. According to the financial advisers, reading up all of the rules is such a daunting task that they would never do. The clients are the ones suffering because of this.
Because of the issues between the public and the financial advisers, David Giertz stated that the profession is now being tainted with distrust and unreliability. Added to it are horror stories surrounding financial advisers and their clients, and how some unlucky pensioners are losing money because of neglect. According to David Giertz, open communication between the two parties should be practiced, and the financial advisers should be responsible enough to read the rules and to understand them by heart. The end result would become beneficial to both parties, and it will build a bridge between the public and the financial advisers.