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Skepticism is Building With Respect to Social Security’s Future

A study conducted recently by annuity and life insurance products provider PlanGap reports that 70% of the participants in their 2023 Social Security Confidence Survey are not confident in the federal government’s ability right the Social Security ship in time to avoid the cut in benefits projected for 2033. Of the remaining study participants, less than 10% expressed optimism that Congress will successfully stave off the insolvency. David Duley, Founder and CEO of PlanGap, puts this skepticism in perspective with this comment, “Social Security is a significant source of income for 90% of retirees, and its uncertain future is naturally leading to fear, frustration, and doubt among the American public.” For a more complete analysis of the PlanGap survey, click here…

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