Devlyn Steele Warns: The Cracks in America’s Retirement System Are Growing

As the cracks in America’s retirement system widen, Augusta Precious Metals’ senior economic analyst Devlyn Steele is sounding the alarm. In a new video titled “Retirees: The Cracks in America’s Retirement System Are Growing,” Steele warns that millions of Americans are building their dream retirements on a foundation that’s quietly failing.

Below, you can watch the full video—or keep reading for the key highlights.

The Crumbling Foundation of Retirement

“It’s like building your dream home on a foundation that’s cracking,” Steele begins. The three traditional pillars of retirement—Social Security, employer plans, and personal savings—are all weakening at once.

• Social Security, he notes, is projected to be insolvent by 2033, leaving retirees with only 77% of promised benefits.
• Employer plans are increasingly exposed to higher-risk assets like cryptocurrencies, often without clear fiduciary protections.
• Personal savings continue to erode under hidden fees and conflicting financial advice.

According to Steele, “a stool with three weak legs will not hold your weight for long.”

Related: Shutdown Showdown - How Washington's Stalemate is Costing American Billions

The Hidden Termites: Fees and Conflicts of Interest

Steele compares retirement fees to termites quietly eating away at your home’s foundation. Even a 2% annual fee can destroy half your lifetime gains, he says. A Pew study confirms that small differences in mutual fund fees drain billions from Americans’ savings each year.

What makes this even more concerning, Steele adds, is that many advisors are not legally required to act in your best interest. The rollback of fiduciary rules has opened the door for commission-based recommendations that benefit the advisor more than the client. “If it was obvious, you wouldn’t put up with it,” he says.

That’s why Steele emphasizes education—so retirees can spot these risks and make better-informed decisions before it’s too late.

Related: How to Diversify Your 401(k) with Physical Gold (Tax-Free)

Washington’s Spending Spree and Your Nest Egg

Another “crack” in the system, Steele warns, is Washington’s mounting debt. With deficits soaring and federal spending unchecked, retirement accounts have become a tempting target. “When Washington needs money,” he says, “it’s easier to reach into your nest egg than cut spending.”

The takeaway: No one is going to protect your retirement for you—not Washington, not Wall Street, and not advisors chasing commissions.

Taking Back Control With a Self-Directed IRA

Steele’s solution is to take back control through a self-directed IRA, which allows retirees to choose assets like gold and silver—assets with no counterparty risk and proven long-term value.

A self-directed IRA, he explains, can:

• Cut out hidden management fees
• Provide greater asset flexibility
• Help retirees diversify away from risky paper assets

Instead of balancing on a shaky three-legged stool, retirees can build a strong foundation designed to last.

Related: Gold Continues to Soar, Hitting Record Highs 

More from Steele

Steele ends his message with a dose of empowerment:

“The future is in your hands. You can take control, take action, and protect your retirement.”

His advice to retirees is simple—get educated now and make proactive choices before the cracks turn into something more serious...

For those ready to learn more, Steele invites viewers to sign up for a free guide and one-on-one web conference with Augusta Precious Metals—offering “no commissions, no pressure, just education.”