The future of Social Security is a concern on the minds of all Americans. People are constantly wondering whether money will run out before it comes time to claim their benefits. While the worries are justified, there’s a good chance the government will make changes to the program to keep it funded for generations to come.
We know that there are already some big changes being considered for the Social Security program. CNBC has a great article about some of them, and we want to take time on this podcast to make sure you understand what the changes mean and how they could impact you and younger generations.
The goal isn’t to provide any advice in this episode because there are so many different ways you can look at Social Security. Instead, we want to tackle a few of the current questions about the program and the way it stands now along with a few questions about what could be coming in the future.
Here’s some of what you will learn in this episode:
- The facts about Social Security and what’s most important to know. (2:00)
- When will the Social Security funds run out? (6:04)
- One of the biggest changes we could see is the age for full retirement. (9:59)
- Tax increases being discussed. (11:27)
- What planning changes should you be making with all these questions surrounding Social Security? (14:40)
If you have any questions about what we discussed or anything else in your financial plan, email us at firstname.lastname@example.org.