Around noon on Friday, March 30th, I was giving a presentation for the Financial Planning Association of New England. It was on one of my favorite topics: Social Security. The first question I asked the audience was “When is Social Security going bankrupt?” Most people said around 2034. That’s what pretty much everyone thinks. The problem is that’s not the answer. Social … [Read more...] about Social Security is NOT Going Bankrupt (Again)
Social Security solvency
When is Social Security Going Bankrupt?
In a word: Never. It’s been an amazing thing to watch. We're living in a global pandemic and experiencing a wild economic showdown. Daily news is crazy. One topic that caught my attention was the speed at which the media started covering the pending demise of Social Security. I can’t count how many times I’ve been asked, “When is Social Security … [Read more...] about When is Social Security Going Bankrupt?
Social Security Solvency: It Better Be Here to Stay
You may recall last month's blog post, Social Security Solvency: It’s Here to Stay. In that post, I shared where you can get the numbers to see how the program is working and what the projections are for its longevity. This month, I wanted more analysis of Social Security solvency in a way to bring home how impactful, or not, changing Social Security would be on the … [Read more...] about Social Security Solvency: It Better Be Here to Stay
Social Security Solvency: It’s Here to Stay
There are some 45,000,000 retirees collecting Social Security retirement benefits today. More than half of these folks decided to claim their benefit before their Full Retirement Age or FRA. In fact, 52% of men pushed the “grab-and-go” button well before Full Retirement Age. And, nearly 59% of women did the same. Full Retirement age is the age considered officially … [Read more...] about Social Security Solvency: It’s Here to Stay
