Is President-Elect Donald Trump Going to Change Social Security? History Couldn't Be Any Clearer.

In November, more than 51 million retired-worker beneficiaries brought home an average Social Security check of $1,925.46. Though this is a relatively modest payout from America's leading social program, it's a necessity that helps an overwhelming majority of retirees cover their expenses.Since 2002, national pollster Gallup has surveyed retirees annually to decipher how important the income they receive from Social Security is. For 23 years, between 80% and 90% of respondents have noted that their Social Security benefit is a "major" or "minor" income source. Put another way, it's not income that most aging Americans could live without.Despite its undeniable importance to the financial well-being of seniors, Social Security's own foundation has begun crumbling. Though the program is in no danger of going bankrupt or becoming insolvent, the trajectory of the current payout schedule, including cost-of-living adjustments (COLAs), is in question.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool