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Social Security’s Mythical Demise Continues to be a Concern for Many
We’ve discussed this point several times via posts on this website, but the concern that Social Security will not be around for future retirees just keeps coming up. The latest incarnation of this long-standing concern was highlighted in a post on fool.com by Katie Brockman, wherein she cites results from a recent SimplyWise survey indicating that 56% of survey adults fear Social Security will “dry up” before they get there. Setting the record straight, Ms. Brockman explains the issue of the programs’ trust fund depletion, and the resulting cut in benefits projected to occur in 2034 (perhaps sooner, when the full impact of the pandemic’s economic consequences are factored in). Read Ms. Brockman’s post here…