Social Security should not solely be relied on to support you during your retirement. You are responsibile for your own financial future. This part of your savings strategy must have a prudent plan and discipline to succeed.
People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire. It’s a historic shift that will only get worse for future retirees, according to an analysis by The Associated Press.Previous generations got a much better bargain, mainly because payroll taxes were very low when Social Security was enacted in the 1930s and remained so for decades.
The battle begins, the younger generation believes they will never receive the benefits they deserve and the older generation believes they deserve more.
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