Can You Still Count on Social Security for Retirement Income if You're in Your 40s?

Many workers fear that Social Security might not be available when they retire. While it is true that the program is facing a financial shortfall due to the increasing number of baby boomers retiring, it is unlikely to completely collapse. The upcoming challenge will be how to manage funding and sustain benefits, possibly leading to necessary cuts instead of a total loss of the program. Thus, planning for future retirement requires understanding these potential adjustments.

The truth is that Social Security is facing a financial shortfall in the coming years as baby boomers retire; this could lead to benefit cuts.

Despite rumors of Social Security going bankrupt, there's reason to believe monthly benefits will still be available in 20-25 years, but at a potentially reduced amount.

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