Roughly 69 million Americans receive Social Security benefits every month and for some of those beneficiaries, it’s a lifeline. Among recipients ages 65 and older, 12% of men and 15% of women rely on Social Security for 90% or more of their income, the Social Security Administration (SSA) reported.
However, long-term projections by the Committee for a Responsible Federal Budget show that the Social Security retirement trust fund could be insolvent as soon as 2032. While that doesn’t mean benefits would vanish overnight, it does raise concerns for workers who are years or decades away from retirement.
