Social Security Is Going Broke! (Just Like the Zombie Apocalypse Is Coming)
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This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
Weekend Reading
Should you plan for a Social Security shortfall? If you look at the news, you’ll see exaggerated concerns about the viability of Social Security benefits, often amplified during political campaign seasons such as the one we find ourselves in now.
READ THE ARTICLEWhat you should know: Despite the warnings that Social Security could be "broke" by 2035, experts clarify that in the event Congress takes no action, payroll taxes will still fund a significant portion of benefits — around 75-to-85 percent.
Key takeaways: Social Security faces challenges, but it will not disappear entirely. Amidst uncertainty, it’s vital that you plan for retirement based on accurate information and guidance from a trusted professional rather than misleading rhetoric.