Does Joe Biden's 4-Point Plan to Change Social Security Resolve the Program's Massive Funding Shortfall? Here's What an Analysis Showed
In June, more than 49 million retired workers took home a Social Security check. Although the average payout to these retirees totaled just $1,837.29, more than 20 years of annual surveys have shown that between 80% and 90% of retired workers lean on their Social Security income, to some degree, to cover their expenses.
Considering how vital Social Security is to the financial well-being of our nation's seniors, sustaining the health of the program is of the utmost importance. Unfortunately, the foundation that supports America's top retirement program is deteriorating and at risk of crumbling without changes from Washington, D.C.
With Social Security on shaky ground, Americans are looking to Capitol Hill for solutions, and that generally starts with the President of the United States, Joe Biden.
Source Fool.com
