In a recent episode of "The Ben Shapiro Show," lawyer and political commentator Ben Shapiro expressed his belief that the official retirement age in the United States should be raised. Shapiro argued that retirement is a "stupid idea" unless one has health issues and emphasized the financial unsustainability of supporting individuals for over 20 years through Social Security benefits.

Presently, Americans can start receiving their Social Security retirement benefits as early as 62 years old. However, Shapiro finds it "insane" that the retirement age has not been adjusted, pointing out that President Joe Biden, who has been eligible for Social Security and Medicare for 16 years, plans to stay in office until the age of 86, which is 19 years past the eligibility age for retirement.

While Biden's 2025 budget proposal aims to finance Social Security and Medicare through tax increases on high earners, Shapiro argues that there are simply not enough high-income taxpayers to sustain this approach effectively. He further believes that raising the retirement age would be a more viable solution.

Shapiro's main reasoning for raising the retirement age centers around the fact that average life expectancy has significantly increased since the establishment of Social Security in 1935. Back then, President Franklin Roosevelt designated 65 as the official retirement age when the average life expectancy in the U.S. was only 60.7 years.

At present, the average life expectancy in the country has risen to around 80 years, with the national average at 76.4 years. While individuals can start receiving Social Security retirement benefits at 62, their full benefits are not granted until they reach their "full retirement age," as defined by the Social Security Administration (SSA). Medicare eligibility starts at age 65.

Shapiro contends that the idea of working for 45 years and then relying on Social Security benefits to sustain oneself for an additional 20-plus years is not financially feasible. Moreover, the average monthly Social Security check, which amounts to $1,907, is not much higher than the federal poverty level of $15,060 for individuals, making it challenging for retirees to live comfortably on those funds alone.

To address potential financial challenges in retirement, Shapiro advises individuals to take control of their financial situation by building a substantial nest egg. He recommends maximizing contributions to tax-advantaged retirement accounts such as 401(k)s and IRAs, taking advantage of employer matching programs, and exploring alternative retirement plans for self-employed individuals, such as the solo 401(k) and SEP IRA.

Additionally, Shapiro suggests considering retiring at the age of 70 to receive a full 100% of Social Security benefits. By delaying the collection of benefits and earning delayed-retirement credits, individuals can experience a permanent increase in their payout by 8% per year until they reach the age of 70.

For those who wish to have a more comfortable retirement, Shapiro proposes downsizing to reduce housing expenses or relocating to a more affordable area. He also encourages individuals to continue working, either pursuing a second career in a passion-driven field or exploring part-time employment options, which can help maintain income and preserve retirement savings.

While Shapiro's perspective on retirement age raises valid concerns about financial sustainability, the topic sparks a broader debate about the evolving landscape of retirement planning in an era of increased life expectancy. As the discussion continues, individuals will need to carefully consider their own financial future and make informed decisions regarding retirement planning and savings.