Social Security is a bigger deal than you think

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By Scott Burns

In our economy, the most important asset isn’t actually an asset. It’s not something you own. It’s a variety of promises that our government calls an entitlement. Some call it virtual wealth.

But most of us call it Social Security.

It’s the biggest asset most Americans have. It looms larger than any other asset on what the Federal Reserve Bank calls the household balance sheet. Just how much larger will amaze you. Try $134.3 trillion. (As you will soon see, that’s far larger than the net worth of every household in America.)

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