There’s been a lot of debate recently about the future of Social Security retirement benefits. Some say the Social Security system needs fixed. They argue that the current system is under funded and without a solution the Social Security Trust Fund will eventually be depleted. This is due, in part, to the economic slowdown but a more significant reason has to do with changing demographics. Today, there are fewer workers for each retiree to replace the contributions previously made by a larger number of workers. Because there are fewer younger workers for each retiree, it’s possible that:

1. Social Security taxes may increase in the future, or
2. Retirees will receive reduced benefits.

Are you concerned about your Social Security retirement benefits?

Social Security benefits have traditionally been an important source of income for most people during retirement.

Most people expect at least some part of their retirement income to come from Social Security at retirement age. Even if you expect to receive at least some part of your retirement income from Social Security benefits, will your savings cover the rest?

If you are concerned about the future of your benefits, contact me for information about a new tool that can help you calculate how your benefits could be affected by the depletion of the Social Security Trust Fund. This tool can also help you calculate how proposed solutions to fix the Social Security system could impact your benefits.

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