Ep 14: Is Social Security Going Broke?

As we begin a four-part series on Social Security misunderstandings, we begin with one that’s been on the minds of many retirees and pre-retirees. That’s the idea that Social Security is going broke and there’s a chance that benefits could disappear at some point. Should you be worried? We explain on this episode.

 

Show Notes and Additional Resources: https://www.baschrock-fg.com/podcast/ep-14-is-social-security-going-broke/ 

 

On This Episode: 

0:50 – Ben and Kaitlin welcomed their second baby boy since last episode.

2:11 – Ben’s reaction to the SSA announcing a 1.6% cost of living adjustment for 2020?

3:45 – Let’s move into our main topic and being our series on Social Security Misunderstandings.

4:39 – Do your clients have a lot of concern about Social Security going broke?

5:58 – What’s going to keep Social Security from going broke?

8:35 – Beyond the Baby Boomer generation, should there be a concern about it going broke?

11:03 – If you’re worried about Social Security benefits going away, here’s how you can plan for it.