I have to take issue with the first bullet: "Social Security. Nobody stole the trust fund, it’s not going broke and, yes, it will be there for you." The official report of the Social Security Administration Summary: Actuarial Status of the Social Security Trust Funds (ssa.gov) notes that by 2034 the trust fund will be exhausted. In addition, over the 75-year period, Social Security taxes will only fund 74% of the promised payouts. The bottom line is that unless there are major changes (i.e. large tax increases), Social Security will not be there for me at the current level of payouts. I fully expect that my benefits will be lower than yours.
Comments
I have to take issue with the first bullet: "Social Security. Nobody stole the trust fund, it’s not going broke and, yes, it will be there for you." The official report of the Social Security Administration Summary: Actuarial Status of the Social Security Trust Funds (ssa.gov) notes that by 2034 the trust fund will be exhausted. In addition, over the 75-year period, Social Security taxes will only fund 74% of the promised payouts. The bottom line is that unless there are major changes (i.e. large tax increases), Social Security will not be there for me at the current level of payouts. I fully expect that my benefits will be lower than yours.
Post: Faulty Perceptions
Link to comment from November 29, 2023