How the Habits of Gen X and Millennials Impact Retirees

By now, you’ve heard a million times how Social Security is facing a severe funding shortfall. This is partially because of the so-called “silver tsunami,” which refers to the large population of Baby Boomers now entering retirement. But another cause can be attributed to younger generations.

That’s because Gen X and now Millennials are having fewer children than previous generations. To better understand how America’s birth rate crisis could cause cuts to your Social Security, watch this video by MSN for Money Talks News.

The Seniors Trust is committed to improving the financial well-being of older Americans through the passage of the Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.