The above chart from the Social Security Administration shows that a 37 year-old or younger will NEVER see 100% of our social security without any changes to the present system. Real World EXAMPLE: I'm 34 years old today; I turn 67 in 2042, which means I will only receive 73% of benefits. A 26 year-old today will only ever see 68% of their benefits. What this says is DAVE RAMSEY IS RIGHT…don’t rely on Social Security for your retirement!This is from our U.S. Federal Government's SSA website:
 | I'm 37 years old in 2009. If nothing is done to change Social Security, what can I expect to receive in retirement benefits from the program? |
 | Unless changes are made, at age 65 in 2037 your scheduled benefits could be reduced by 24 percent and could continue to be reduced every year thereafter from presently scheduled levels. See the 2009 Trustees Report. |
| | I'm 26 years old in 2009. If nothing is done to change Social Security, what can I expect to receive in retirement benefits from the program? |
| | Unless changes are made, when you reach age 54 in 2037, benefits for all retirees could be cut by 24 percent and could continue to be reduced every year thereafter. If you live to be 100 years old in 2083 (which will be more common by then), your scheduled benefits could be reduced by 26 percent from today's scheduled levels. See the 2009 Trustees Report. |
| | Should I count on Social Security for all my retirement income? |
| | No. Social Security was never meant to be the sole source of income in retirement. It is often said that a comfortable retirement is based on a "three-legged stool" of Social Security, pensions, and savings. American workers should be saving for their retirement on a personal basis and through employer-sponsored or other retirement plans. |
Q & A Source: http://www.ssa.gov/qa.htm
Chart Source: http://www.ssa.gov/OACT/TR/TR04/II_project.html
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