What Retirement Will Look Like in About 25 Years
Our nation’s demographics are shifting. By 2050, 24 percent of the population will be at least 65 years old. According to Yahoo! Finance, this increasing number of retirees will be dependent on a shrinking number of working-age people to support them, further straining the Social Security retirement program. Many financial experts predict retirement will no longer resemble what it is now. They caution that many seniors will still be employed, at least part-time. One went so far as to say, “It may be a second or third career with space in between to rest and recharge. But it will not be unlimited rounds of golf and cruises around the world.”
Retirees would not need to supplement their retirement income if they could rely on Social Security. The Seniors Trust is committed to improving the financial well-being of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate $200 per month (average) benefits increase, a fair annual cost-of-living adjustment (COLA), and increased minimum benefits.
