Social Security Just Turned 85 -- But Can It Make It to 100?
On Aug. 14, 1935, President Franklin D. Roosevelt signed the Social Security Act into law. This action, intended to protect against the "hazards and vicissitudes of life," created one of the most popular entitlement programs of all time. That program just turned 85. It's accomplished a lot in its time, including keeping millions out of poverty and paying out trillions in benefits. In fact, in June 2020, more than one in six U.S. residents were receiving benefits.
But despite the fact millions of people are relying on Social Security and millions more still regularly pay to fund it, there are serious concerns about its future. In fact, if the program is going to make it to age 100 and keep fulfilling its mission, it may need some help.
Image source: Getty Images.
Source Fool.com
