Is Social Security Going Bankrupt?

The topic of Social Security comes up all the time in our office, especially when it comes to its future. Is it heading towards bankruptcy as some suggest, or is this an alarmist notion blown out of proportion? To answer these questions and more, Certified Financial Planner® Heath Grossman joined the podcast to offer his perspective on the much-debated future of Social Security.

Here’s what you can expect to learn in this episode:

• While it’s not necessarily sensationalized, Heath doesn’t believe it will go bankrupt.
• How Social Security pays out its benefits and why the fund is running out.
• Don’t let this concern lead you to take your benefits as soon as possible for that reason only.
• What are some of the things that could be done to fix the problem?
• Should you be prepared for the Medicare age to rise as well?
• What are the things we can control related to planning and Social Security?

 

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