Rest assured: Social Security WILL be there for you!

It has been fairly well publicized that the Social Security program has financial issues and, in fact, about 80% of today’s younger workers believe that the program won’t be there for them when they’re ready to retire. But the program having financial issues today is too often interpreted by America’s millennial population as it probably won’t be there for them when, in fact, the opposite is true. Yes, if Congress doesn’t act the program’s trust fund will be depleted by about 2034. But that means only that the program will be able to pay out as much as it is taking in, perhaps meaning a benefit cut of about 25%; it doesn’t mean the program will disappear. As this article by NerdWallet’s Andrea Coombes explains, when inflation adjustments are factored in, those reduced benefits will be more than today’s benefits, but simply won’t replace as much preretirement income as now, so your savings will still be the key to your retirement comfort.  Click here to read more.

AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee.  AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security.  To review AMAC’s Social Security Guarantee, click here.

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