Gordon said there’s also a ton of uncertainty surrounding the Social Security program itself. Because of this, there will likely be reduced benefits in the future to keep the program solvent.
Couples who wait until the higher earning spouses max their benefits at age 70 face additional issues.
I can’t help but note that Newsweek didn’t even attempt to discuss the prospect of increasing payments to Social Security from upper income earners or requiring Congress to payback the “loans” they took from it to pay for military expenditures.
I’m loving the fact that a large chunk of my paycheck is paying for a system that will without a doubt be disbanded well before I ever reach retirement age. I’ll never see a dime of the 10s of thousands I’ve already paid in, let alone anything I pay in over the next 30 years
While I obviously understand the concern, this has been said since the current Social Security recipients were children.
Have you tried being born into money?
People have been saying this for a long time now, though. It’s not nearly as dire as it’s presented.
And trying to fund your own retirement with whatever you have left.