Coronavirus Has Social Security on Pace for Its Worst Year Ever
Social Security is easily our nation's most important social program. It's been making continuous monthly payments to a growing lot of eligible retired workers for more than 80 years, and is directly responsible for pulling more than 22 million people out of poverty, according to an analysis from the Center on Budget and Policy Priorities.
It's also a program that many folks lean on, probably more than they should. While the Social Security Administration cautions that the average worker will see 40% of their wages or salary replaced by the program during retirement, data shows that 62% of retired workers lean on their monthly payout for at least half of their income.
These statistics make what I'm about to say incredibly worrisome: Social Security is officially in trouble.
Source Fool.com
