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There are rumors about Social Security going away soon. Is there any truth to this?
Will it be replaced with another option for those of us who have paid in our whole lives and are counting on it in a year or two?
Best Answer
356 points
Dusty answered 6 months ago …
For those who are now on Social Security or will be in the next few years there will be little or no change. The claims for the demise of Social Security are about if there is no change at all in the program and if the Federal govenment keeps doing more and more dumb things. Small changes to the program can and will keep it going indefinitely. Read that as meaning a lot longer than anyone over 50 is going to live and that some Social Security will be available for the newest babies when they reach a suitable age and need.
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123 points
paulrubillo answered 6 months ago …
Our government has said, based on their data, that the Social Security program would become insolvent within the next 30 years. It remains to be seen what changes will be made with the program in order to keep it afloat, and many people remain skeptical about the possibility of Social Security actually disappearing.
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2183 points
ChaosNantuko answered 6 months ago …
if your counting on it in a year or two, you should be fine. I'd say people under 50 might want to focus on saving enough for retirement to not need it, as there is a chance that any social security type programs that exists 20+ years in the future are an even smaller benefit then those of today.
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