Social Security as it presently exists is on an unsustainable path
The program is on track to burn through its remaining cash reserves by 2035. The retirement of baby boomers is pushing the worker-to-beneficiary ratio ever lower. Meanwhile, retirees themselves are living longer than ever before.
In spite of this looming instability, U.S. non-retirees are at an all-time high this century when it comes to claiming they’ll rely on Social Security Income (SSI) in their retirement, reported an April 2015 Gallup poll. As of a year ago, 36% of non-retirees expect to rely heavily on SSI. That’s about eight percentage points higher than responses in 2005.
One of the most controversial proposals to fix the shaky program is to partially privatize …
Read the full article at: http://moneymorning.com/2016/03/23/should-we-privatize-social-security/