Social Security is a critical federal program that provides retirement income to almost all seniors in the United States. It serves as America’s pension safety net and is the most prominent source of guaranteed income for retirees. Approximately 97% of Americans aged 60 and older receive or will collect Social Security benefits, with a significant portion relying on it for at least half of their income. The average benefit for retirees is currently $1,837 per month.
The program, however, faces solvency issues due to demographic challenges. With beneficiaries living longer and the retirement of the baby boomer generation, the number […]
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