3 Great Reasons Millennials Should Take Social Security at Age 67
Social Security is our nation's most valuable social resource, yet it's also one of the most confusing. Despite pulling more than 22 million people out of poverty each month -- which is more than a third of current program recipients -- there's a lot that's often misconstrued about Social Security. Perhaps chief among these misconceptions is the program's sustainability.
In various surveys throughout the years, millennials have expressed concern and/or blatant doubt that Social Security wouldn't be there when it was time for them to retire and collect. This, thankfully, is a false narrative.
Social Security's two recurring sources of revenue -- the 12.4% payroll tax on earned income up to select levels and the taxation of benefits over certain income thresholds -- ensures that money will always be flowing into the program and that eligible beneficiaries will be receiving a monthly payout.
Source Fool.com
