Treasury Secretary Steven Mnuchin's Social Security Solution Is Downright Dangerous
Whether you're a current retiree or a worker readying to retire in a few years or decades, odds are you'll be at least somewhat reliant on Social Security. As of this year, 55% of current retirees consider it a "major" source of income, compared to just 10% who didn't consider it a needed source of income at all, according to national pollster Gallup. Comparatively, 79% of non-retired adults in 2017 expect Social Security to be a "major" or "minor" source of income during their golden years.
While Social Security has long been a rock-solid foundation for retirees, the disabled, and even survivors of deceased workers for more than 75 years, that foundation is starting to crack. Namely, ongoing demographic changes in the U.S. could dramatically change the face of Social Security in less than two decades.
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Source: Fool.com
