Many workers today fear that Social Security won’t be around for them once they’re set to retire. In fact, rumors have been circulating for years that the program is on the verge of bankruptcy. If you’re worried about not getting any benefits at all for your retirement, here are three important moves to make.
It’s easy to buy into negative news about Social Security when so much of what you read is bleak. But the reality is that Social Security is not at risk of going away completely. What’s actually happening is that in the coming years, the program will owe more in benefits than what it collects in payroll tax revenue as baby boomers leave the workforce in droves and not enough younger workers come in to replace them.