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‘Will I ever retire?’: millennials wonder what’s on the other side of middle age
(www.theguardian.com)
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this post was submitted on 18 Jun 2024
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Hell. Gen X also are worried about retirement.
Will social security be here in 15 years? My 401k has not kept up at all.... Everything today costs soooooooo much there's no real room for saving.
Most recent social security trustees report says the trust fund will run out in 2035. What happens in 2035? Benefits are still funded at 83% in perpetuity. By the way, last year it was going to run out in 2033, and the year before that it was going to run out in 2031. And also by the way, the trust fund was specifically set up because they knew the baby boomers were going to stress the system, so it's supposed to get depleted as the boomers use it.
Everything is working mostly as intended, and yet there's all this anxiety around Social Security. Why? Because Republicans want you to think Social Security is fucked all on its own so that you don't question it when they ratfuck it. That and they want to constantly frame the conversation as such so that the conversation doesn't turn to "how do we make social security more robust and generous?" or some other radical socialist nonsense.