Are you worried about the future of Social Security? The future of the program seems to be on the minds of many Americans lately. A recent article from MarketWatch.com aims to answer a few questions.
“Social Security is not going anywhere, but millennials shouldn’t count on 100% of their benefits and legislators really need to pay attention to the program, experts said.
The program’s trustees said its two trust funds will be depleted in 2034
. . .
though that doesn’t mean Americans will stop receiving benefits. Simply put, it means the program will rely on tax income to provide its benefits as opposed to the money in those trust funds, and that benefactors will receive three-quarters of the benefits they were to be owed.”
So what does that mean for you, in say five years? And what does that mean for your children, on down the line? The article goes on to explain that, starting with the basic figures of the current situation and potential outcomes, as well as potential solutions for the future.
Visit the MarketWatch website here to read the full article.