Social Security in 2026
Experts weigh in on the potential impact of the Trump Administration's plans on retirement.
Social Security has had a significant impact, with its payments helping to lift 22 million Americans, mostly seniors, out of poverty each year, according to the Center on Budget and Policy Priorities.
Social Security is a bedrock of this nation
says Frank Garcia, a registered Social Security analyst and president of InsuranceKO. However, he notes that the program faces a "silver tsunami" as large numbers of Americans reach retirement age and begin receiving benefits, putting pressure on the program.
The retirement trust fund is expected to run dry in 2033 under current estimates.
Author's summary: Experts discuss Social Security's future.
- 22 million Americans lifted out of poverty annually
- Retirement trust fund expected to run dry in 2033
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