Is Social Security Running Out? The Reality Check Gen Z and Millennials Need Now

Many older adults count on Social Security as supplemental income for retirement. But that might not be the case if you're a millennial or Gen Zer planning to retire decades from now. 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. As a money coach and author of Crush Your Money Goals, that's a fear I've heard from many of my clients. Even if Social Security sticks around, I make sure to let them know that Social Security payments are rarely enough to cover your expenses when you retire. "Financial well-being isn't just about the numbers -- it's about stability and peace of mind," said Constance Craig-Mason, of National Social Security Advisors. "This uncertainty highlights why Social Security should be viewed as a foundation, not the sole ... Read full article.