Almost All Working Americans Think They Can’t Count on Social Security

As Social Security inches closer to insolvency, Americans are getting worried about what their future holds. According to 401k Specialist magazine, it seems most people — almost three out of four — are not counting on Social Security for their retirement income.

In fact, a new study by Allianz Life Insurance Company of North America found that 78 percent of people surveyed worry that they might not be able to afford the lifestyle they want in retirement due to the increased cost of living. It seems Gen Xers (people born between 1964 and 1978) have the biggest fears about their long-term financial stability.

The Seniors Trust is working diligently to protect Social Security. We feel the best way to do this is through passage of the Social Security Expansion Act. This landmark bill will buttress the long-term solvency of Social Security by expanding benefits for seniors — not cutting them!