2 Legitimate Social Security Worries, and 1 Reason Not to Be Concerned
While a strong case can be made that Medicare is America's most important social program, and there is a chance it could be a few decades from now, Social Security probably plays a more critical role in the financial well-being of many seniors. Every month, more than 42 million seniors receives a check from Social Security, and a little over three out of five of these seniors relies on their stipend for at least half of their income. In fact, a third of seniors relies on Social Security for at least 90% of their monthly income.
As you might imagine, with Social Security holding such high importance for seniors, any rumors or concerns about the program are bound to rile up seniors, pre-retirees, and even working Americans who one day hope to receive a benefit check of their own during retirement. Some of these concerns – two in particular -- have validity, and they should be something pre-retirees and retirees think about. On the other hand, one Social Security worry isn't something that any workers or retirees should concern themselves with.
Image source; Getty Images.
Source: Fool.com
