Social Security benefits and what may happen in the worst-case scenario - CNBC

You hear people talking about how Social Security will not be there for them when they retire, even when waiting in line for a table in a restaurant. It is good that people are talking about and aware of the Social Security Trust Fund insolvency issue, but not so good if they don’t have their facts straight. Many fear they will never get back the money they paid into the system and claim their benefits early, causing a permanent reduction in their monthly Social Security benefit. In a recent interview, Stephen Goss, Social Security’s chief actuary, said, “It’s a long way from not having any money to pay for any benefits.” Lorie Konish explores what may happen in the worst-case scenario. Read Ms. Konish’s article here…

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