Since its establishment in 1935, Social Security has been a foundational element of the American retirement system. However, while it plays a crucial role in providing financial security to the elderly, Social Security was never designed to be the sole source of income for retirees. Instead, it was intended as a supplemental income. Despite this, … Read more
Concerns are growing among retirees about potential Social Security benefit cuts, driven by fears that the trust funds may run out of money to cover the monthly benefits for over 70 million beneficiaries in the U.S. This financial strain is largely due to the mass retirement of older workers, leading to a revenue shortfall since … Read more
It’s common for many to feel uncertain about the future of Social Security benefits, fearing they might not receive any payments when they retire. This belief leads millions to neglect their retirement savings, putting their financial future at risk. Recent news about the Social Security trust funds potentially running out by 2035 has heightened these … Read more