Shapiro: Retirement Age Should Rise as Social Security Benefits Stretched Thin

Shapiro says retirement is "stupid" and thinks the retirement age should be raised since life expectancy has increased significantly since Social Security was introduced.

The average monthly Social Security check is low, just over $1,900 per year, making it difficult to live comfortably on alone.

Shapiro believes the idea that people can work for 45 years then receive 20+ years of Social Security benefits is "not fiscally sustainable."

To stretch retirement savings, people can delay collecting Social Security until age 70 to get an 8% annual bump up to that age.

Even in retirement, people may need to keep working in some capacity or live on less to make ends meet beyond Social Security benefits.