Gen Z and Millennials Continue to Lack Faith in Social Security - CNBC & AMAC

Polls have suggested for more than a decade that younger Americans do not believe the Social Security program will be there for them.  Megan Leonhardt of CNBC writes here on a study by Northwestern Mutual’s 2020 Planning & Progress.  It finds 23% of Gen Z (those born in 1997 or later) and 26% of Millennials (born between 1981 and 1996) believe there’s little chance they’ll be able to rely on Social Security to fund their retirement.  She explains the fears are unfounded given that as long as people contribute payroll taxes there will be a program.  She does explain the program’s financial challenges given changing demographics, and she also notes a number of things younger people can do now, such as ramping up savings, well before retirement to secure a brighter future.  Full piece here.

The Association of Mature American Citizens (AMAC) has developed a bipartisan compromise bill, titled “The Social Security Guarantee Act”.  One of its several components is Social Security PLUS, a new yet voluntary early retirement plan that would allow all earners to have more income available at retirement.  This component is intended to appeal especially to younger workers.  Learn more about AMAC’s Social Security Guarantee here…



Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or

What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers