Don't Let This Common Social Security Fear Drive You to Claim Benefits at the Wrong Time
Many people worry that once they retire, Social Security won't have the means of paying them the benefits they were hoping to get. That fear isn't exactly unfounded.
Earlier this year, the program's Trustees reported that Social Security's trust funds are slated to run dry by 2034. Once that happens, the program may be forced to implement benefit cuts across the board.
A lot of people, though, are blowing that news out of proportion. Are benefit cuts a bad thing for current and future retirees? Absolutely. But is Social Security looking at running out of money completely? Absolutely not.
Source Fool.com