Why You Will Be Getting Social Security After All

Whether directly or indirectly, Social Security has likely touched your life or the life of someone you know. It’s more than likely, if you have a full-time job, a chunk of your paycheck goes toward Social Security. In 2023 nearly 70 million Americans will receive a Social Security benefit every month. It's a lifeline for millions of retirees, disabled Americans, and family members who lost a loved one. But the program is at risk and if action isn't taken, Americans might see a cut in their benefits starting in 2034.

Chapters:
1:29 How Social Security works
2:57 Solvency and Sustainability
6:06 The future of Social Security

Produced and Edited by: Emily Lorsch
Animation: Alex Wood, Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images
Additional Sources: Social Security Administration, National Academy of Social Insurance

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Why You Will Be Getting Social Security After All

[sarawilliam]

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.

[machintelligence]

As a farmer my grandfather decided to join social security ((it was optional for farmers)
much to the amusement of his friends and neighbors. He lived well into his eighties and collected benefits for over twenty years.

[TomMcMorrow]

35 and I'm planning my eventual retirement as if SS is bankrupt.

If I'm wrong it just means more money!

[Brownyman]

“Future generations will deal with the problems we created.”
-Humanity

[enticingmay]

I’m in my mid 20s and by the time I retire, the retirement age will probably be about 75 so chances are a lot of people will be dead before they get their social security. So it’s still a scam.

[alexsteven.m]

Recession is often the result of external factors, and it appears that the United States is losing its grip as a federal reserve currency. With a decreasing ability to control inflation and a reduction in stocks and oil trading, it seems that a new multilateral world order is on the horizon.

[mrclarkful]

Here is an idea how about we stop tax loopholes and actually tax multi-national companies. Just a thought.

[FunDownSouth]

My problem of potentially not getting social security is the fact they’re currently taking it out of my check. I’d prefer to opt out and do my own savings and investment with it!

[GolDGreg]

You absolutely cannot tell my generation they’ve gotten a fair shake. Any semblance of a dream of living like my parents did is gone. Before I even graduated college, I lived through two recessions and am currently getting assaulted in every direction. When does it end? It sounds like it only gets harder. If you want a greater birthrate, homeownership rate, more small businesses, hell a real American Dream, the pessimism of those in their 20s and 30s must be addressed or else it with spiral. People here say why pay at all, which would surely cause it to collapse. There’s no faith, no hope, and for good reason. God save us all.

[rickstevenson]

Being in my 30s, I love being forced to pay into a government program that I’ll never get to collect from or very little when it’s my turn to collect. What a fair system 👍

[csu]

As someone who paid into the system over 45 years, I've done my part. Don't want to hear ANY excuses.

[johannmueller]

Don't go after hard working people... go after companies [some of which make $99 Million per year and pay $0 in taxes]

[skoolie_life]

I’m 46 and have been paying in to SS since I was 14. I want my money back! This is b.s.!

[TheAlfredPlatform]

As a millennial, i feel like we're constantly paying into systems that overwhelmingly benefit baby boomers who are not shy about only voting for policies that further their interests. If we are being made to pay, we need to have policies in place that benefit us too like student loan debt relief especially considering the majority of millennials will not obtain SS in their lifetime.

[safety_sid]

I'm 29 now. I've been working professionally (out of college) for nearly 7 years now. I have fully come to peace with the fact that by the time I'm old enough to draw retirement (2061-2064 ish) there will be no social security left. I think everyone my age or younger needs to prepare themselves mentally and financially for a future in which the only retirement you'll see is the one you've saved for yourself (IRA, Investment Acct, Properties, etc).

Just so you understand. The United States fertility rate has been below replacement rate of 2 births per mother+father for the past 13 years. 2009 was the last year where it was 2.00 births per mother+father. If this trend continues until 2030 (VERY likely) that would equal an entire 'Generation' that will have fewer workers in the workforce than retirees.

[Dee--Jay]

We need some younger minds in office that can create new ideas

[barrydraper]

Over the decades, Congress has "borrowed" over $2.9 Trillion dollars from the Social Security Trust Fund (with interest) for other purposes, and has not yet repaid this debt. Let's fix this before we talk about bailing out on our promises to seniors, children, and the disabled...

[longbeach]

There is no way I'm working until 70 years old. Also many companies will not hire someone of that age because of higher insurance premiums. They will be forced to do contract jobs where companies don't have to cover their insurance. This is one of the biggest reasons retiree go overseas so they can live on their lower social security payments when they hit 65.

[TheSpatulaCity]

Been hearing about this for 20 years. Still nobody has done anything. I don't want my future benefits cut nor do I want my retirement age adjusted. I have been working hard and forcibly paying into this system under the current rules so don't go and change the rules mid lifespan. People like myself are counting on and detrimentally relying on the current system as part of my total retirement plan. If anything, remove the cap on wages that Social Security can be taken from.

[midlifecrisis]

It's not going away, but by the time I retire in 20 years a loaf of bread will cost 100 dollars. 🤣🤣🤣