1/10/23: Why the 8.7% Soc. Sec. Cost of Living Adjustment is Bad News - The Real Figure is -23%!
THE TRUTH ABOUT YOUR FUTURE with Ric Edelman
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The Social Security Trust Fund Is Going to Be Gone
Rick Edelman: In 1935, there were 159 workers for every retiree. He says that's 159 people putting money into the system through taxes, but only one person taking money out. The number of retirees has not grown as much in recent years; they're now living to 95. That means Social Security is paying out benefits far more time than anybody ever anticipated way back in the 1930s, nearly a hundred years ago.Edelman: If your current benefit is 1,700 bucks and it suddenly gets cut by 23%, well, this is going to push tens of millions of retirees into poverty.
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