That depends on when you’re retiring.
The money is running out, period. The fact that its running out in the 2030s isn’t news (the article even states this hit to SS only changes things by a year), and that payments will be reduced is true. But a 50 year old will get that radically reduced rate, but get something. A 20 year old really doesn’t have that guarantee, especially with how freely the rules can change by the time they hit retirement age.
We’re at the tipping point, so of course there’s a lot of upheaval about it, but there really hasn’t been a definitive plan (let alone a good one) on how to change this predicament so that resting on “you’ll get something” seems optimistic at best.
That depends on when you’re retiring. The money is running out, period. The fact that its running out in the 2030s isn’t news (the article even states this hit to SS only changes things by a year), and that payments will be reduced is true. But a 50 year old will get that radically reduced rate, but get something. A 20 year old really doesn’t have that guarantee, especially with how freely the rules can change by the time they hit retirement age.
We’re at the tipping point, so of course there’s a lot of upheaval about it, but there really hasn’t been a definitive plan (let alone a good one) on how to change this predicament so that resting on “you’ll get something” seems optimistic at best.