Young Americans Could Lose $110,000 in Career Earnings to Keep Social Security Afloat

Social Security's 'go-broke date' keep creeping up—it's lost a full year since the last accounting

In 2034, Social Security will only be able to pay 81% of benefits, at the current pace.

Young Americans could lose $110,000 in career earnings to keep Social Security afloat

Social Security's two main trust funds are projected to reach insolvency on a combined basis in the first quarter of 2034.

Financial News Network - Keeping Social Security from going broke requires tax hikes that will hit younger Americans for 6 figures

Social Security's trust funds are approaching insolvency in less than a decade as worker-to-retiree ratios decline, forcing Congress to consider painful tax hikes or benefit reductions.Read More …