Will there be any retirement benefits or social security in 30 to 40 years from now? Or will it all run out?
Iam American 26 years old lived in Sacramento, CA all my life.
- RichardLv 75 months agoBest answer
There will be social security, but the reserves are going broke. If Congress does not reform it, benefits will be cut.
PS: Be sure you stay in Sacramento. If you step outside the city limits for even a minute, all of your money will magically disappear.
- STEVEN FLv 75 months ago
ALWAYS plan to support YOURSELF.
NEVER count on the government to pay SQUAT.
If you have more than you need, you can always donate to your favorite charity.
- JetDocLv 75 months ago
Used to be that the best investment you could make for the long term was real estate. "They're not making any more dirt! But even real estate investors can lose big time when the "bubble bursts" like it did back in 2008.
Today, it seems the BEST way to insure your money won't lose value over time is to invest in precious metals. Buy REAL hard gold or silver or platinum and keep it safe. The value of pretty much everything else (including land) will rise and fall with the world's economy.
- Trivial OneLv 75 months ago
I'm 60 years old. For my whole life, people have said that Social Security won't be there in the future. It's still here. It went through a significant overhaul in the 1980s, and it will need another overhaul soon. The risks and costs of the program going under are too great. It will be easier and far more effective to continue to adjust the system to meet needs than to let it die. Social Security will be there. It will undoubtedly look different by the time you collect, but it will be as a basic retirement benefit.
However, Social Security was never intended to be the sole source of elderly people's support. It was designed to supplement a company retirement/pension plan and personal savings. Social Security will never be adequate as the sole source of your retirement income, so participate in your employer's plan and put aside some of your own money. Start doing that now and you'll have a sizable nest egg when you get to retirement.
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- JayLv 65 months ago
Yes. But unless the US Congress does something this year in 2035 the amount of social security will decrease to 78.3% of what is currently being paid out.
So if it is 2034 and you are getting $2000 a month...in 2035 it will go down to $1,566.00
- SumDudeLv 75 months ago
Yes, SS will be there. But you can bet you and your children will be paying higher rates along the way.
- exactdukeLv 75 months ago
As long as the government has a printing press, there will always be Social Security. Of course, we must be vigilant that the Dems don't spend it on welfare for the illegals.
- martinLv 75 months ago
Because families aren't sticking together the way they used to, it's all the more reason that Social Security will be necessary even more than it is right now. People are moving away to pursue their own individual lives sometimes in cities far away from their families. Those people are individuals who will need all the help they can get from the government.
- GypsyfishLv 75 months ago
That depends on whether people keep electing Republicans, who have been clear all along that they want to destroy the social security system.
- shirtshertshurtLv 65 months ago
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