The Harsh Reality of President-Elect Donald Trump's Social Security Plan Can't Be Ignored

In October, more than 51 million retired workers took home a benefit check that averaged $1,924.35. While this is a relatively modest amount of money, it's nevertheless foundational for most retirees.Since 2002, national pollster Gallup has been surveying retirees annually to gauge how important their Social Security income is to making ends meet. For 23 years, between 80% and 90% of respondents have noted that it accounts for a "major" or "minor" source of income, including 88% in the latest survey (April 2024). Put another way, nearly 9 out of 10 retired workers would struggle to cover their expenses if Social Security didn't exist.Despite the important role Social Security has played in supporting our country's aging workforce, its financial well-being is now floundering. Current and future beneficiaries are looking to elected officials, as well as President-elect Donald Trump, for solutions that'll strengthen America's top retirement program.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool