Tech investor exposes the 3 'great lies' every American is taught about money and retirement

How often do you scrimp and save until the end of the money, check your bank account when your paycheck lands with a bump, and then scratch your head about where it's all gone within a matter of days?

It really does feel like it's becoming more expensive to live, but with everything from the price of eggs to the Nintendo Switch 2 continuing to go up, it's not hard to see why.

It's also true that you don't need to splash $2,000 on the new folding iPhone Ultra, but you probably knew that already.

If trying to keep a roof over our heads as we bust our backs during our 9-to-5s isn't enough to worry about, we've also got the looming spectre of retirement hanging over us.

While some people will undoubtedly have the mantra that there's no need to save for a rainy day, others are far more aware that those rainy days have a habit of creeping up on us.

Now, one top White House advisor has revealed the three 'great lies' that Americans are apparently being told about money and retirement.

Just because you've got a degree doesn't mean you're going to get that high-flying job (Alberto Menendez Cervero / Getty)

As well as making a name for himself as a scientist-entrepreneur, David Friedberg also landed himself a position serving on President Donald Trump's Council of Advisors on Science and Technology (PCAST).

Speaking to Steven Bartlett as part of the Diary of a CEO podcast, Friedberg unveiled the three lies that Americans apparently still believe when it comes to money and retirement.

Calling out the education system, Friedberg debunked the idea that if you graduate from college with a degree, you're going to have a great job waiting on the other side.

He went on to debunk the long-held American dream of buying a home, as well as the belief that all your assets should be in that home.

Finally, he painted a grim picture of our future, concluding that Social Security won't care for us when we're older.

While Friedberg is obviously going against the grain in terms of what most of us are taught, he does have some sage advice about how we could be planning for the future.

Instead of worrying about getting that job straight out of college, securing your first property, and having the safety net of Social Security, he explained: "Everyone should have ownership in stocks is the truth about that lie."

Expanding on why he thinks stocks are important, Friedberg added: "The money that went into Social Security went out to the government to pay bills, and it wasn't actually kept in the trust and so as a result Social Security is going to go bankrupt."

Friedberg thinks Social Security is a con in preparing us for old age (sakchai vongsasiripat / Getty)

It's a pretty scandalous claim to call Social Security one of the 'great lies', especially as Friedberg reminds us it's the idea that you'll be "safe and protected when you retire."

We've seen plenty of people make it big on the stock market, only recently covering how one father helped secure part of his daughter's future by investing in Apple decades ago.

Of course, stocks come with a huge risk, as you can never tell what's going to soar and what's going to flop.

He also tore into public pensions as a potential lie and concluded with his own musings on healthcare. Here, Friedberg said: "I could make the libertarian argument but I won't because I do think it's probably the right thing to say in a civil society no one should be without healthcare."

Ultimately, he thinks healthcare should be accessible to all, but he admitted it has to be a multi-tiered system.

So there we have it, all Americans are apparently being told three great whoppers.