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Social Security’s future, for younger workers
If you’re savvy at all on the goings on in Washington, you know that Social Security’s future is a hot topic of discussion theses days. That’s because the program’s annual Trustee’s Report forecasts that it’s Trust Fund, now flush with about $2.9 trillion in reserves, will be depleted in 2034. Though that doesn’t mean Social Security is going away (it’s not), the projected 21% cut in benefits gives pause to anyone who either now, or will someday, rely on the program for retirement. And what all of that means, according to this article by Motley Fool’s Maurie Backman, is that America’s so-called millennials need to take their future into their own hands and start saving diligently for it. Click here to read more.