Where is Social Security Headed?

For good reason, many retirees and pre-retirees are worried their Social Security benefits will be cut. Nearly two-thirds of American seniors rely on the program as their primary source of income, according to the Social Security Administration, and 10,000 more Boomers are retiring every day.

The situation only seems more dire when you consider the last few years’ Trustee Reports, which project a trust fund depletion around 2034 – a stat politicians and pundits are eager to point out. With an ever-increasing ratio of retirees to workers, it makes sense that seniors are uneasy about the program’s future.