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The Shaky State of Social Security

Posted by Gabriel Burczyk | Founder & CEO

July 4, 2018

If there’s a good word to describe the state of Social Security in America, it might be something like “uncertain.” And that’s a far cry from the reliable, dependable safety net that many retirees and future retirees have come to expect of the program.

Many readers probably know where this is going – the familiar narrative that Social Security is underfunded, may run out of money soon, and may not be there for future generations. Even still, as the checks continue rolling in, the idea that Social Security is in trouble has a feeling of being far-fetched. For many, it feels like an issue that may indeed be true but doesn’t necessarily apply to you specifically.

First signed into effect by President Roosevelt on August 14, 1935, the Social Security Act created a social insurance program designed to pay retired workers over the age of 65 continuing income after retirement. Since then, tens of millions of people have received benefits through the Social Security Act. Yet, the program was wrought with challenges from the start, and experienced financial peril as early as 1977.¹

And, despite attempts to keep it solvent, the Social Security program faces a major long-term shortfall. Surprisingly though, a large number of Americans seem unaware of this looming failure.

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Retirement Planning Social Security Benefits Retirement Income Strategy

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Boost Your Social Security Check with These Strategies

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Managing retirement income is a highly personalized endeavor. What works well for one person isn't necessarily the best solution for another. But one thing is usually true for everyone: increasing your social security income is a good thing. It turns out that your social security income amount isn't necessarily fixed. You can potentially increase social security benefits by taking advantage of one more of the following strategies. And that's definitely a good thing. [+] Read More

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