75% of people ages 50 and up worry Social Security will run out of money in their lifetimes, survey finds

About 75% of Americans aged 50 and older worry that Social Security will run out of funding in their lifetimes, compared to 66% in 2014, according to a survey by Nationwide Retirement Institute, as concerns grow with the depletion dates of the program's funds approaching.

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8/21/2023

Americans Are More Afraid Of Going Broke Than Dying — Reports Indicate Financial Insecurity Is Becoming A Harsh Reality

A recent survey conducted by Allianz reveals that 61% of Americans are more afraid of depleting their savings during retirement than dying, highlighting the concern over outliving one's financial means in old age.

8/22/2023

Nearly half of Gen Zers think they won’t ‘get a dime’ in Social Security: survey

Almost half of Generation Z adults and 39 percent of millennials do not expect to receive any Social Security benefits they have earned, according to a survey by the Nationwide Retirement Institute, with concerns growing over the program's insolvency within the next decade.

9/13/2023

2024 Social Security COLA Rises to 3.2%, But Inflation and Medicare Costs Still Eat Away at Benefits

The forecast for next year's Social Security increase has risen to 3.2% from 3% due to a rise in inflation, but the increase is still significantly lower than the 8.7% COLA in 2023, causing concerns for seniors who have struggled to keep pace with inflation and have seen their share of poverty increase.

9/13/2023

Social Security Benefits to Rise Modestly in 2024 After Big Boost This Year

The annual cost-of-living adjustment for Social Security benefits in 2024 is expected to be 3.2%, which may not keep up with rising expenses for seniors in the US, including housing, medical, and food costs.

9/13/2023

Retirement Now Seen as a Miracle for Many Due to Inflation and Lower Life Expectancy

Almost half of Americans believe that achieving retirement security is impossible, with inflation being the top concern, according to a survey by Natixis Investment Managers, although the US has improved its overall score for retirement security.

9/17/2023

Long-Term Care Costs Are Rising, But Few Can Afford Insurance for Aging Americans

As the average population ages, a majority of older Americans are reaching retirement with limited options for affordable long-term care, as costs continue to rise and long-term care insurance remains uncommon.

9/22/2023

Social Security Benefit Cuts Loom if Lawmakers Can't Agree on Reform Plan

Social Security beneficiaries face the possibility of a 20% across-the-board benefit cut within the next decade due to a looming funding shortfall, prompting calls for Congress to take action.

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Posted 8/24/2023, 6:24:39 PM

75% of people ages 50 and up worry Social Security will run out of money in their lifetimes, survey finds

cnbc.com

Relevant topic timeline:

8/21/2023

Americans Are More Afraid Of Going Broke Than Dying — Reports Indicate Financial Insecurity Is Becoming A Harsh Reality

8/22/2023

Nearly half of Gen Zers think they won’t ‘get a dime’ in Social Security: survey

9/13/2023

2024 Social Security COLA Rises to 3.2%, But Inflation and Medicare Costs Still Eat Away at Benefits

9/13/2023

Social Security Benefits to Rise Modestly in 2024 After Big Boost This Year

9/13/2023

Retirement Now Seen as a Miracle for Many Due to Inflation and Lower Life Expectancy

9/17/2023

Long-Term Care Costs Are Rising, But Few Can Afford Insurance for Aging Americans

9/22/2023

Social Security Benefit Cuts Loom if Lawmakers Can't Agree on Reform Plan

Social Security beneficiaries face the possibility of a 20% across-the-board benefit cut within the next decade due to a looming funding shortfall, prompting calls for Congress to take action.