Will Social Security Be There for You? - Livingston Parish News
The short answer is yes, but there are issues that must be addressed by Congress first for you to get full benefits. Here’s why:
Social Security now pays out more in benefits than it receives in revenue, with the shortfall made up by withdrawing from the reserves which have been built up over the years. Without reform, that Trust Fund will be fully depleted in a bit more than a decade and, if that happens, everyone’s benefit will be cut by about 23% (according to the recent report from Social Security’s Trustees). But that still leaves you with an unanswered question about when, considering all the rhetoric about solvency, you should claim your personal Social Security benefits. This Livingston Parish News article by Jennifer Barrett helps answer that question, providing details of the circumstances for when you should claim early, and when you might be better off waiting longer to claim. Click here to read more.
Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of this program. Learn more about it here…