Anthony Saccaro, President of, Providence Financial, updates with Kurt Schemers and Don McKelvey on Traders Nation® how Social Security will tap the trust fund for the first time in thirty-six years, and what it means to all of us that have put into the system. We discover that media, in general, may be skewing information on what this actually means. Still, the mere fact that the government will need to means the Social Security system is still broke and needs to be fixed.
Additionally, we explore will benefits be reduced and age requirement to collect Social Security change? Good chance – since many variables like life expectancy have changed since 1935 when Social Security was enacted. People are living longer today than they were in 1935 – so does it make sense for the government to tweak Social Security in tandem with modern life-spans? Some think so.
Finally, Saccaro touches on how the Millennials are larger in numbers than the Baby-Boomers – will they be the saving grace for the fund? Get the details as we line them out.