4 Things Millennials Should Expect From Social Security
Social Security is, for millions of retired Americans, a financial lifeline that they simply couldn't do without. A 2017 Gallup poll found that a majority of seniors relies on their monthly benefits check to account for a "major" part of their income, suggesting that without this income, our nation's retired workers would be in some deep financial trouble.
But this financial lifeline has issues, and today's working generation of millennials is well aware of it. According to last year's Social Security Board of Trustees report, the program is projected to exhaust its $2.85 trillion in asset reserves by the year 2034. In the eyes of millennials, this means Social Security is less than two decades from going belly-up. In fact, a 2014 survey from Pew Research Center noted that 51% of millennials believe that Social Security won't be there for them when they retire. That's a scary thought for workers who've paid into a program for years or decades and expect it to be there when they retire.
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Source: Fool.com
