Summary
SAN FRANCISCO -- Social Security provides a majority of the retirement income for about two-thirds of Americans older than 65, but if you're in your mid-50s or younger, it's time to make alternate arrangements.
The program's dismal outlook has long been known, but the recent economic crisis further scarred the program's finances, bringing closer the day of reckoning when receipts no longer cover benefit payouts.See the full content of this document
Extract
Few Options Remain to Repair Social Security System
That's bad news for anyone in their mid-50s or younger, because proposals that aim to put the system on sound financial footing almost invariably protect current beneficiaries and people near retirement age, but everyone else can expect benefit cuts, tax increases or a bit of both.
The program...See the full content of this document
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