Yes, Social Security Will Likely Exist When You Retire -- but It Probably Won't Be Enough

Getty Images/Zooey Liao/CNET For years we've been hearing Social Security is running out of money. If you're preparing for retirement like I am, you might be worried about how the fate of this program could affect your future. Millions of seniors rely on Social Security as supplemental income for retirement, but Millennials and Gen Zers are worried that they may not have that extra money decades from now. If President Donald Trump cuts Social Security taxes like he proposed he might, it could deplete the Social Security fund even sooner. As a money coach, it's a fear many of my clients have shared with me. My answer to them is that even if Social Security sticks around -- and as far as we can tell, it will -- these payments are rarely enough to cover all of your retirement expenses. You should only plan on Social Security benefits to fund a part of your future -- not all of it. Constance Craig-Mason of National Social Security Advisors agrees. "Financial well-being isn't just about ... Read full article.