American Dependence on Social Security
Americans have come to rely on their Social Security as one of their primary sources of income in retirement. Social Security makes up as much as 89% of income for 63% of retirees. This is pretty troubling news when the Social Security Trust Fund is facing insolvency in the next 15 years. Worst case means that those relying on the income from benefits will see a cut on their already strained resources. The number of retirees relying on benefits may also rise as time passes as pensions continue to become rarer and rarer. For more information on this topic visit this article by Brian Stoffel with The Motley Fool.
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