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Youre not going to retire at 63 its probably going to be 10 years later, he told GOBankingRates.
Heres why Cardone believes the retirement age will soon be 73.
Also see the most realistic retirement age in every state.
Cardone believes the latter is likely to be the case.
The money is going to run out, he said.
Social Security cannot support [retirees].
Its been a busted system my whole life.
So if it cant support people in retirement, people need to keep working to earn money.
In addition, fewer people are paying into the Social Security fund via taxes.
Weve got 10,000 people leaving the job force every single day right now, Cardone said.
Some of these people are 65, 66 years old.
Theyre going to live until theyre 91 not 84.
I dont think anybody can benefit the Social Security program, he said.
It doesnt have enough money.
Our education programs are broken, and we spend $800 billion a year there.
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