68% of Retirees May Be in for a Huge Social Security Shock
Millions of seniors today rely on Social Security to pay their bills, and without those benefits, they'd be in serious financial trouble. But Social Security is facing its own share of financial problems, and if those issues aren't resolved, the result could be devastating for seniors.
Interestingly enough, today's seniors have a rather optimistic attitude with regard to Social Security. In a recent survey by the Employee Benefit Research Institute, 68% of retirees said they're confident Social Security will continue to provide benefits of equal value to those being paid out today, and 48% of workers echoed that sentiment.
But Social Security's most recent Trustees Report tells a very different story -- specifically, that benefits may be cut across the board in as little as 15 years. And that's bad news for current and future retirees alike.
Source Fool.com
