Fixing Social Security alone won’t solve America’s retirement crisis
America has a “retirement crisis” – essentially many or most people entering retirement don’t have enough income to be comfortable and to last the remainder of their lives. That could mean that many of today’s middle class Americans might find themselves at or below the poverty level at some point in their future. In this Forbes article by contributor Teresa Ghilarducci, the author describes how Social Security was never intended to replace 100% of a worker’s income in retirement, and that supplemental income was and will always be needed. This is true, even taking into account that the income replacement rate is higher for lower income workers. Click here to read more in the Forbes article about why Social Security needs more revenue, not cuts in benefits.