Will Social Security Be There for Millennial and Gen-Z Workers?
Published On Oct 11, 2024, 12:09 PM
The article discusses the views of millennials and Gen Z regarding Social Security, highlighting their skepticism about the program's long-term viability. Many young Americans are worried about the dwindling reserves of Social Security, which could lead to cuts in benefits as early as 2035. The article emphasizes the generational divide in perceptions of Social Security, with younger individuals expressing greater doubt about receiving benefits compared to older Americans. It notes that while concerns are valid, the program is not on the verge of collapse, citing current trust fund reserves of $2.79 trillion.
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The concerns over Social Security could lead to increased investment in alternative retirement savings options among younger Americans, such as index funds and ETFs that offer exposure to the stock market.
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