Whether you’re sitting pretty on a $2 million nest egg or you barely have two pennies to rub together, you probably hope to get some money from Social Security in retirement. After all, you’ve paid a substantial amount into the program throughout your career. It’s only fair to get some of that back.
Estimating how much you’ll get from Social Security has always been a bit of a guessing game, because you don’t know how your income will change over time or how long you’ll claim benefits. But it’s even more complicated for us today because the program is operating on borrowed time. Understanding where it’s headed is key if you hope to maintain your financial security in the coming decades.
Image source: Getty Images.