The Good and Bad News About the Future of Social Security
It's no secret that Social Security has been struggling in recent years. Many older adults are concerned that the program is on the verge of bankruptcy or that benefits are going away, which could be devastating to those who rely heavily on their monthly checks.
While Social Security is facing its fair share of problems, the situation isn't as dire as many people believe. There are two pieces of bad news you need to have on your radar, as well as one positive thing to keep in mind.
The Social Security Administration (SSA) relies primarily on payroll taxes to fund benefits. Current workers pay into the program through taxes, and then that money is paid out to today's beneficiaries.
Source Fool.com
