About Social Security's Future

Have you read the front page of your Annual Social Security Statement lately?



I just received my annual statement and this is what it said:


About Social Security future.....


"Social Security is a compact between generations. For decades, America has kept the promise of security for its workers and their families. Now, however, the Social Security system is facing serious financial problems, and action is needed soon to make sure the system will be sound when today's younger workers are ready for retirement.


In 2017 we will begin paying more in benefits than we collect in taxes. Without changes, by 2041 the Social Security Trust Fund will be exhausted and there will be enough money to pay only about 78 cents for each dollar of scheduled benefits. We need to resolve these issues soon to make sure Social Security continues to provide a foundation of protection for future generations."



You might want to think through your retirement strategy if you relying on social security to provide a big source of your income especially if you are under 40 years old. Start planning now. Changes are on the horizons.



Grab your annual "Social Security Statement." and check it out for yourself. It is an eye opener.

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