The Most Important Social Security Chart You'll Ever See
You may have heard that Social Security is broke, bankrupt, or something to that effect. While this is a bit of an exaggeration, the reality is that Social Security isn't in the best financial shape from a long-term perspective. Here's a rundown of the latest projections, and a chart that illustrates why Social Security is expected to run out of money.
First of all, it's important to point out that Social Security is actually in decent financial shape for the time being. Not only does the program have $2.85 trillion in reserves, but it ran a surplus last year and is expected to continue to do so through 2021.
Image source: Getty Images.
Source: Fool.com
