Social Security: Planning for it (or not) in your future

No matter when you retire, you want to know what role Social Security will play in your financial future.

Will it go away?

How much can you expect?

When should you start benefits?

When Social Security started in 1935, it was created to provide support for workers (and their families) who could no longer work due to age, disability, or death.

It’s comprised of the Old-Age and Survivors Insurance (OASI) program for retired workers, their families, and survivors of deceased workers, and the Disability Insurance (DI) program for disabled workers and their families.

Today, it remains a primary source of income for many retirees and aging Americans. Yet, funding issues create some uncertainty about the future of these programs.

In this article, we’ll tackle the questions above so you can determine the role Social Security might play in your financial future.

Will Social Security go away?

Social Security is unlikely to change much in the foreseeable future. But, eventually, it will face challenges and look different than it does today.