In this episode of Gimme Some Truth, we take a closer look at the future of Social Security and what it means for retirement planning. Mitch shares insights into the projected depletion of the Social Security Trust Fund by 2033, highlighting that while the headlines can be alarming, Social Security payments have never been missed.
We explore the origins of Social Security, the impact of demographic shifts, and the political and funding challenges shaping its outlook. The conversation also reviews potential legislative reforms — including retirement age adjustments, tax changes, and benefit modifications.
Finally, we emphasize the importance of stress-testing financial plans so individuals can prepare for possible changes and uncertainties in the system.
Timestamps
00:00 – Introduction and Topic Overview
00:50 – Current State of Social Security
02:07 – Historical Context and Trust Fund Details
05:26 – Future Projections and Potential Solutions
07:07 – Political Challenges and Demographic Impact
12:54 – Possible Changes and Recommendations
14:50 – Conclusion and Final Thoughts
READ THE BLOG POST FOR MORE INFO:
https://walknercondon.com/blog/is-social-security-going-away/
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