Social Security Isn’t Going Broke
Don’t fall for one of the many Social Security myths floating around. For example, you might have heard that Social Security is going broke by 2034.
While it’s true that the Social Security trust fund is expected to be depleted by 2034, there will still be Social Security tax revenues to continue to pay benefits. Those taxes are projected to be able to pay about 77 percent of current benefits, and that assumes no changes are made to solidify the program.
Nobody wants a 23 percent cut in their income, but keeping 77 percent of your benefits is a lot better than losing them entirely.