Why I'm Not Counting on Social Security, and Neither Should You
More than 65 million Americans receive Social Security benefits of some sort, and the program pays out over $111 billion every single month. Despite how large and important Social Security is to so many people, the program is in serious trouble. According to its own trustees, the program's combined trust funds are expected to run out of cash by 2035. In the absence of a fix between now and then, that would be more than 20%.
Of course, Congress is likely to patch Social Security before that day of reckoning arrives, as it has so many times before. Despite the likelihood of a patch, however, I'm not counting on Social Security benefits for my retirement. Frankly, if you sit back and think about it a bit, you probably shouldn't count on it either.
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Source Fool.com
