Is Social Security Really Going Bankrupt? Separating Fact From Fiction.

Although claiming Social Security benefits before full retirement age (FRA) results in permanently reduced monthly benefits, AARP reports that more Americans than ever are choosing to file early. While there are many reasons a person may claim Social Security early -- including illness, job loss, or caregiving duties -- an AARP poll suggests that the surge in claims is largely due to fears regarding the financial future of the Social Security program. Americans are right to be on alert. For the first time since the 1980s, the Social Security trust funds are dangerously close to running dry, and it's becoming increasingly difficult to develop realistic retirement plans. However, saying that Social Security is going bankrupt could not be further from the truth. Let's separate the reality from the rumors.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool