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Will Social Security Be There When People Need It?
According to Northwestern Mutual’s 2022 Planning & Progress Study, 44% of Americans don’t think Social Security will be there for them when it’s time to claim benefits. Maurie Backman explains Social Security’s looming insolvency. She explains the difference between benefit cuts of around 20%, which would happen automatically unless Congress acts to shore up the program, and no benefits at all. The latter is simply not reality, though people often fear getting no benefits at all. Backman offers advice on how to save in an upcoming era of less generous benefits. Full piece here.