What You Need To Know About Social Security’s Funding

Recent headlines might make you nervous about whether you’ll receive your Social Security benefits. For example, Elon Musk recently called Social Security “the biggest Ponzi scheme of all time.”

The annual Social Security Trustees Report might also trigger anxiety, as recent results don’t seem very positive: The 2024 report stated that the Social Security Trust Fund is projected to run out of money by the year 2035, which is just 10 years away.