There's Good News About Social Security -- but Take It With a Grain of Salt
Millions of seniors today rely on Social Security to cover their living expenses once their careers come to an end. And chances are, you'll end up depending on those benefits financially once you retire.
But Social Security is facing its share of financial challenges that put current and future beneficiaries at risk of getting less money out of the program. See, Social Security's primary revenue source is payroll taxes -- the ones we all gripe about. But in the coming years, Social Security expects that revenue source to shrink.
The reason? Baby boomers are likely to start retiring in short order, at which point they'll not only stop paying into Social Security, but they'll also start claiming benefits, leaving the program with a shortfall on its hands.
Source Fool.com
