For many aging Americans, Social Security is critical.

Social Security makes up at least 50% of the income for half of couples 65+ and is the sole source of income for about 20%.

Imagine being one of those recipients, then reading articles with titles like Social Security Trust Funds Now Projected to Run Out of Money Sooner Than Expected, or Social Security Will Be Insolvent by 2033. or Social Security Could Be Insolvent Within 8 Years. 

If you depend on Social Security to survive, this is scary stuff.

But if you're worried about the viability of Social Security, here's something that might offer comfort: These same types of stories have been going around since I first became an investment adviser 40 years ago. Why do they periodically repeat? First, because there's some truth to them: Social Security does face funding challenges. But I suspect it's also at least partly because scary headlines sell stories.

Still, Social Security funding issues aren't imaginary, and changes will almost certainly have to occur if the system is to remain viable. But what could those changes entail? More important, how can you best position yourself to maximize monthly checks when your time comes?

Want more information? Check out these resources:
9 Social Security Terms Everyone Should Know
Retirees Have a New Top Financial Fear in 2021
6 Money Mistakes That Will Wreck Your Retirement
Don't Get Scared Into This Social Security Mistake
6 Groups Who Cannot Rely on Social Security Benefits
A Simple Way to Maximize Your Social Security
12 Ways to Maximize Your Social Security Checks
CNBC: Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says
Motley Fool: How Safe Is My Social Security?
Investopedia: How Secure Is Social Security?
AARP: How much longer will Social Security be around?
Kiplinger: Relax, Your Social Security Benefits Are Safe 
Subscribe to the Money Talks News newsletter
Miranda Marquit's website

For many aging Americans, Social Security is critical.
Social Security makes up <a href="https://www.ssa.gov/policy/docs/ssb/v77n2/v77n2p1.html">at least 50%</a> of the income for half of couples 65+ and is the sole source of income for<a href="https://www.nasi.org/education/the-role-of-benefits-in-income-and-poverty-2/"> about 20%</a>.
Imagine being one of those recipients, then reading articles with titles like <a href="https://www.cnbc.com/2021/08/31/social-security-trust-funds-set-to-be-depleted-sooner-than-expected.html">Social Security Trust Funds Now Projected to Run Out of Money Sooner Than Expected, </a>or <a href="https://www.washingtonpost.com/business/2021/09/03/social-security-insolvency/">Social Security Will Be Insolvent by 2033.</a> or <a href="https://www.marketwatch.com/story/social-security-could-be-insolvent-within-8-years-economist-warns-11629891784">Social Security Could Be Insolvent Within 8 Years.&nbsp;</a>
If you depend on Social Security to survive, this is scary stuff.
But if you're worried about the viability of Social Security, here's something that might offer comfort: These same types of stories have been going around since I first became an investment adviser 40 years ago. Why do they periodically repeat? First, because there's some truth to them: Social Security does face funding challenges. But I suspect it's also at least partly because scary headlines sell stories.
Still, Social Security funding issues aren't imaginary, and changes will almost certainly have to occur if the system is to remain viable. But what could those changes entail? More important, how can you best position yourself to maximize monthly checks when your time comes?
Want more information? Check out these resources:
<ul>
<li><a href="https://www.moneytalksnews.com/social-security-terms/">9 Social Security Terms Everyone Should Know</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/retirees-have-a-new-top-financial-fear-in-2021/">Retirees Have a New Top Financial Fear in 2021</a></li>
<li><a href="https://www.moneytalksnews.com/5-retirement-planning-mistakes-youll-regret-forever/">6 Money Mistakes That Will Wreck Your Retirement</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/dont-get-scared-into-this-social-security-mistake/">Don't Get Scared Into This Social Security Mistake</a></li>
<li><a href="https://www.moneytalksnews.com/who-cant-receive-social-security-retirement-benefits/">6 Groups Who Cannot Rely on Social Security Benefits</a></li>
<li><a href="https://www.moneytalksnews.com/solutions/social-security/">A Simple Way to Maximize Your Social Security</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/12-ways-to-maximize-your-social-security-checks/">12 Ways to Maximize Your Social Security Checks</a></li>
<li>CNBC: <a href="https://www.cnbc.com/2021/08/31/social-security-trust-funds-set-to-be-depleted-sooner-than-expected.html">Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says</a></li>
<li>Motley Fool: <a href="https://www.fool.com/retirement/2018/08/28/how-safe-is-my-social-security.aspx">How Safe Is My Social Security?</a></li>
<li>Investopedia: <a href="https://www.investopedia.com/articles/personal-finance/120415/how-secure-social-security.asp">How Secure Is Social Security?</a></li>
<li>AARP: <a href="https://www.aarp.org/retirement/social-security/questions-answers/how-much-longer-will-social-security-be-around.html">How much longer will Social Security be around?</a></li>
<li>Kiplinger: <a href="https://www.kiplinger.com/article/retirement/t051-c000-s002-relax-your-social-security-benefits-are-safe.html">Relax, Your Social Security Benefits Are Safe </a></li>
<li>Subscribe to the <a href="https://www.moneytalksnews.com/#newsletter">Money Talks News newsletter</a></li>
<li><a href="http://mirandamarquit.com/">Miranda Marquit's website</a></li>
</ul>

Welcome to Stacy Johnson's "Money!" A podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Money! with Stacy Johnson

How Secure is Social Security?

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