Will Social Security Be Around for Future Retirees? 71% of Workers Fear It Won't.
Millions of seniors today rely on Social Security to pay the bills in retirement. But whether future retirees will get the same opportunity is apparently more questionable. In fact, 71% of workers today fear that those benefits may not be available to them once their careers come to a close, according to a recent Wells Fargo retirement study. But are their concerns grounded in reality? Or are most workers just buying into a glaring myth about Social Security's potential demise?
Let's be clear: Social Security is certainly facing some financial challenges that, if left unresolved, could result in as much as a 20% cut in benefits as early as 2035. Of course, these projections could change in the coming years, but that's where they stand at present. And while a reduction in benefits surely isn't good news for current or future retirees, it's by no means the same thing as having no Social Security at all.
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Source Fool.com
