While payments are still going out, Social Security could be in trouble in the near future.
Some may say the program has been struggling for a while. This is true, but efforts and discussions have been in motion to secure the future of retirement for everyone.
There’s just one big problem with this attempt to turn the tide of retirement resources – more people are heading toward retirement than ever before.
Peak 65: The Milestone That May Break Social Security
This year, more Americans than ever before will reach 65. Peak 65 as some call it, represents a pivotal moment that could push Social Security over the proverbial fiscal cliff in the coming years.
Some analysts have already said that this point is inevitable. Many projections said the trouble for Social Security, in terms of partial insolvency, would happen in 2035. Now with a struggling economy, this date could come even sooner than once imagined.
As more people than ever become eligible for retirement, it’s a statistical worst-case scenario that could drain an already dwindling fund. Add in the fact that many individuals nearing retirement don’t have the savings necessary to support themselves, and retirement could be much less rewarding than it should be for millions of seniors.
What’s the solution to this issue?
Some say that Social Security tax caps should be raised to provide more funding. Others talk about changing the retirement age. Some say we should leave Social Security alone, saying the problem isn’t all that bad. But if Peak 65 is here, it won’t be long before more people are claiming benefits than ever before. The question is, how do we prepare?
Help The Seniors Center Protect the Future of Social Security
The Seniors Center is committed to finding solutions to strengthen and protect the Social Security Trust Fund. Social Security is a contract between citizens and the government. Money deposited in the Trust Fund should only be used to pay benefits to eligible recipients.
The Seniors Center is demanding Congress finally put a stop to the careless borrowing and spending by greedy politicians that has put our Trust Fund and our secure retirement in jeopardy.
At The Seniors Center, our goal is to help seniors, and we’re doing that by protecting the future of Social Security. Retirees shouldn’t have to worry about losing their hard-earned benefits to taxes or the agendas of greedy politicians. If you agree, we invite you to sign our petition today! And follow The Seniors Center on Twitter and Facebook for more updates.
