What Do You Know About If and When Social Security Will Run Out?
A truly worrisome belief that many Americans have is that Social Security will never run out. This is simply false- even the Social Security Administration admits to funds running out eventually, saying this will happen by 2037, with other sources such as the AARP saying they’ll run out of funds in 2035.
This doesn’t mean that the SSA will simply stop paying seniors, however. In fact, it is expected that beneficiaries will only receive 75% of what they should have received normally.
Taxes pay into the Social Security funds, so if they stay where they are, checks will keep on coming, albeit smaller ones than what we’re used to. It remains to be seen if any changes will be made in order to supplement benefits.
