Are There Any Good Solutions to Social Security's Financial Woes?
There are rumors circulating that Social Security is on the verge of bankruptcy and that future retirees won't be able to collect monthly benefits from the program. Thankfully, those rumors are simply just that.
Social Security is facing financial challenges that could force the program to implement benefit cuts. But it's not at risk of disappearing entirely.
The issue is that in the coming years, baby boomers are expected to leave the labor force in droves, and a smaller number of workers will come in to replace them. Since Social Security's main source of funding is payroll tax revenue, that puts the program in a tough spot.
Source Fool.com
