Instant Poll: What Will Happen When Social Security Trust Funds Run Out in 2033
Category: Social Security
November 31, 2024 — We would love to get your vote on what will happen on this issue. The Social Security Retirement Trust Funds are expected to run out in 2033. When that happens it is estimated that only about 79% of benefits can be paid.
Congress has been dithering on this issue for over decades – the last fix was in 1983. What do you think will happen less than 9 years from now?
Comments on "Instant Poll: What Will Happen When Social Security Trust Funds Run Out in 2033"
Shumidog says:
There will be lots of noise and posturing, waving of arms, banging the table, etc. But, maybe a band-ade and kick the can a few years out, rinse repeat.
sherry says:
What will happen to social security if they pass the GPO bill? Will it shorten the time SS is solvent?
Jay says:
Honestly a combination of all of the above is the best fix! Problem is each party has their own ideas and Congress probably will end up taking a one or two prong approach when they're down to wire. As one nearing retirement I've been reducing the SS portion of my financial plan to hopefully overcome any shortfall in SS benefits. Currently planning SS being 20% of our plan. When we first began serious retirement planning 20 years ago we were figuring SS at 35%.