Americans Fear Social Security Will Go Broke, Poll Shows

Monday, October 2, 2017

Americans Fear Social Security Will Go Broke, Poll Shows

The prospect of Social Security running out of money in their lifetimes haunts the vast majority of Americans over age 50. More than three-quarters (78 percent) of future retirees in that age group and almost two-thirds (63 percent) of those who retired in the past 10 years share that concern. These are just two of the key findings of a recent poll conducted by the Nationwide Retirement Institute (NRI).

Here's another major worry: Nearly two-thirds (63 percent) of future and recent retirees are concerned about cuts to Social Security under the Trump administration. This is so despite President Donald Trump's promise on the campaign trail that he wouldn't cut Social Security benefits.

But that doesn't mean all these people think the current situation is just fine. More than four in five future retirees (82 percent) and 79 percent of recent retirees believe Social Security needs to change. . .

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