Is Social Security Going Broke? Myths, Truths & Opportunities

What we want to do in this episode is make sense of what exactly is happening with Social Security and which concerns are legit and which ones might be overblown. This isn’t the first time Social Security has had to make adjustments since it was originally introduced in 1935, and we’ll take you through what has changed over the past nearly 90 years.

 

Here’s some of what we discuss in this episode:

• Historical background on where we got to where we are today with Social Security. (4:11)
• Here are the facts around Social Security right now. (7:57)
• Why do we keep hearing about bankruptcy and whether the benefits will be gone soon? (10:11)
• This isn’t the first time changes have been made to Social Security. (12:31)
• What changes could be considered in the near future? (16:49)
• Do you ever make too much money to qualify for Social Security? (23:12)

 

Additional Resources: 

Proposed SS changes - https://www.ssa.gov/OACT/solvency/

The Social Security Trust fund - https://www.ssa.gov/news/press/factsheets/WhatAreTheTrust.htm

 

Get in touch with Don and learn more: https://doncashpodcast.com/