Michelle and college guy,
Don't despair, social security will be around when you retire. The benefits may have been changed but FDR was smart enough when he created it to establish it as a tax so polititicians won't be bold enough to meddle with it.
However, Social Security will not provide you with anything much more than basic living expenses. And you may not get that until your health is deteriorating.
Corporate America is changing. The companies that provide full benefits, pension packages, insurance coverage, etc. are a dying breed. They are also pulling back those benefits they do offer.
My advice for young people is to find a growth industry they really like. Find employment in that field or start your own business (preferable). If you like it, you'll be good at it. If you're good at it you'll be successful. If it's a growth industry and you're good at it you just about can't screw it up.