Will Social Security Even Exist When I Retire? What Gen Z and Millennials Need to Know

Social Security income is a lifeline many seniors count on to help fund their retirement. But if you're a millennial or Gen Zer, you might be worried Social Security won't be around when you retire. It's a fear I've often heard expressed by my own clients. For years, we've heard the government-run program is running out of money. President Donald Trump's proposed plan to cut Social Security taxes could speed up this timeline. Though current retirees might pocket more money in the short term, it would leave the fund at risk for future generations. Though that's certainly a problem, as a money coach and author of Crush Your Money Goals, I make sure my clients know that Social Security payments alone are rarely enough to pay for your expenses in retirement. Constance Craig-Mason, of National Social Security Advisors, agrees. "Financial well-being isn't just about the numbers -- it's about stability and peace of mind," she says. "This uncertainty highlights why Social Security should be ... Read full article.