Social Security

A 1983 SS law gradually
raised retirement age to 66 and then to 67 beginning in 2002
I was 40 y/o and gave it no thought at all.
100% of Full Benefits Received at 66-67
70% at 62 and 124% at 70
 sliding scale at between ages

Bankruptcy Very, Very Unlikely

Many Retire Early, a Few Later

High Earning Men Live Longer

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Bankruptcy Very, Very Unlikely

Introduction. As a result of changes to Social Security enacted in 1983, 
benefits are now expected to be payable in full on a timely basis until 2034,
 when the trust fund reserves are projected to become exhausted.

Social Security Bankruptcy Date 
 Projection Year

 Bankruptcy Date

1997

2019
2010 2035
 2023  2034
The SS bankruptcy date keeps moving forward
because of the trustees use a conservative 1.9% GDP growth rate, a conservative 5% unemployment rate, and other conservative measures. Note the economy slowed down during the recession decreasing the delay.

Note: If SS Fund were to go bankrupt,
Treasury could easily make up the difference.

 		  
 

Many Retire Early, a Few Later

  
 

 

High Earning Men Live Longer

  
 

 

The Future Financial Status of the Social Security Program