For the first time since 1982, Social Security is dipping into its trust fund to pay benefits. What does this mean for future recipients?
June 11, 2018
The board of trustees for Social Security recently issued their 2018 annual report. Once again, this year’s report provided a dark reminder that the fiscal health of the program has further deteriorated. Like last year’s report, Social Security’s trustees said the program’s trust fund would be depleted in 2034. However, unlike last year, for the first time since 1982, Social Security has to dip into the fund to meet its obligations. Treasury Secretary Steven Mnuchin said in a statement that “lackluster economic growth in previous years” and an aging population have contributed to the shortage.
https://jsingletonfinancial.com/wp-content/uploads/2018/06/social-security-.jpg300950Hadyn.Peery@raymondjames.comhttps://jsingletonfinancial.com/wp-content/uploads/2017/05/JSingletonBlack.pngHadyn.Peery@raymondjames.com2018-06-19 07:59:352019-08-21 13:27:32Social Security Taps Trust Fund; Should You Be Worried?
At J Singleton Financial, located in Jackson, Wyoming, our team provides our clients the information they may need to choose the most suitable investment products and services for their specific financial needs, including asset management, retirement plans, trust services, managed accounts, 401(k) plans, life insurance and more.
J Singleton Financial
170 E Broadway Suite 100D
P.O. Box 508
Jackson, WY 83001