What’s Going To Happen To Social Security?

There’s been a lot of talk lately about the financial status of Social Security and the likelihood of future reductions in scheduled benefits. While concern about the financial health of the program is warranted, neither I nor my clients are losing sleep over the problem. Frankly, I’m optimistic the government will implement a solution that doesn’t involve a significant cut in benefits, but I don’t expect anything to happen anytime soon. I wouldn’t be surprised if legislation isn’t passed until the 2030s and only then to avert a crisis. In the meantime, we can explore what’s ailing this important entitlement program and what options exist for reform.

What’s the problem?