Is it a mistake to rely on Social Security? According to HowStuffWorks, early retirees — or claimants receiving benefits at age 62 — take a 20% cut in Social Security funding and benefits. Moreover, Social Security is expected to climb only 1.5% this year; this is among the programs smallest growths ever, reports CNN Money. With these figures in mind, it is perfectly reasonable to question the practicality and sustainability of the program. What are some basics about Social Security, and how they changing?
Understanding Social Security
Approximately 60.4 million Americans receive Social Security benefits. The Social Security Association (SSA) reports that retirees are the most likely beneficiaries, making up 69% of all U.S. men and women receiving financial support from Social Security. S
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