Social Security to cover only about 75% of benefit payments through 2085.
A Social Security spokeswoman recently pointed out that interest income from the Treasury bonds held in the trust fund will allow Social Security to keep growing until 2022 — even if the agency has to siphon off some money to offset any shortages in tax revenue -- and won't be exhausted until 2036, when the first Gen Xers begin retiring. But that's already one year earlier than previous projections. After that, the agency says tax income under the current system will only cover about 75% of benefit payments through 2085.
Call me for a free evaluation about your very own financial security when you retire.
Jesse Alvarado
(562)822-5565
No comments:
Post a Comment