Post by Forever Sunshine on Jul 23, 2012 15:12:41 GMT -5
Despite what you've heard, Social Security isn't going to disappear.
Many younger people, and even some older ones, are convinced the retirement system's coffers will run dry before they get a chance to claim benefits.
The reality is quite different. Even if Congress does nothing to fix the troubled system, and its trust fund is exhausted in about two decades, Social Security will still collect enough in payroll taxes to pay out 75% of promised benefits at that point.
Seventy-five percent isn't ideal, but it's sure better than nothing.
money.msn.com/retirement-plan/what-you-will-get-in-social-security-weston.aspx
Many younger people, and even some older ones, are convinced the retirement system's coffers will run dry before they get a chance to claim benefits.
The reality is quite different. Even if Congress does nothing to fix the troubled system, and its trust fund is exhausted in about two decades, Social Security will still collect enough in payroll taxes to pay out 75% of promised benefits at that point.
Seventy-five percent isn't ideal, but it's sure better than nothing.
money.msn.com/retirement-plan/what-you-will-get-in-social-security-weston.aspx
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