Many Americans believe Social Security will die before they retire - New York News

Many Americans believe Social Security will die before they retire

Updated:

By: Michael De Groote, Deseret News

Less than one-third of Americans (31 percent) think that Social Security will still be paying benefits by the time they retire, according to a survey by FindLaw.com.

"Not surprisingly," FindLaw.com reports, "faith in Social Security rises as people get older. Among people between the ages of 18 and 24, only 11 percent expect Social Security to still be around when they retire. But even among middle-aged people, less than one-third expect to receive Social Security checks."

The opinions divide into thirds about whether Social Security will be around at retirement. Yes, 31 percent think it will be, but 30 percent think it won't and 39 percent are not sure.

"People who are currently retired say they rely on their Social Security checks," FindLaw.com says. "The majority of retirees surveyed (56 percent) say Social Security accounts for more than half of their retirement income. In fact, 36 percent of retirees say their Social Security check makes up more than 75 percent of their retirement income or is their sole source of retirement income."

Michael K. Stanley at LifeHealthPro wrote about the study: "The country has been receiving fuzzy facts about the solvency of the Social Security program, and though most indicate that it is in some type of distress, the severity is inconclusive. After repeated talking points about administrations using it as a 'credit card' and President George W. Bush's attempt to privatize the program, it is not surprising that many Americans view it skeptically."

Over at Investment News, Mary Beth Franklin placed more of the lack of confidence on the federal government shutdown: "Can you blame (the public)? The political antics in Washington - and I live in the midst of the circus - doesn't inspire faith in our government. When I logged onto the Social Security Administration website this week, the first thing I saw on the home page was a notice about 'important information about the federal government shutdown.' … You can see what such shenanigans wreak havoc with public confidence."

According to Robert Kuttner at the Huffington Post, billionaire Stan Druckenmiller is trying to create a movement among college students against Social Security. The idea is that seniors are stealing from the young. Similar discussion could also make people nervous.

Meanwhile, according to CNNMoney, seniors will get a small increase in Social Security in 2014: "Social Security benefits are expected to rise between 1.4 percent and 1.6 percent next year, according to the American Institute for Economic Research. That follows a 1.7 percent increase in 2013 and no increases in 2010 and 2011. A 3.6 percent adjustment in 2012 has been the only significant rise in benefits in recent years."

EMAIL: mdegroote@deseretnews.com

Twitter: @degroote

Facebook: facebook.com/madegroote


Original Post

Copyright 2013 Deseret Digital Media, Inc.

  • Local NewsLocal NewsMore>>

  • Funeral for man who died after NYPD choke hold arrest

    Funeral for man who died after NYPD choke hold arrest

    Wednesday, July 23 2014 10:46 PM EDT2014-07-24 02:46:09 GMT
    An overflow crowd packed a church on Wednesday night for the funeral of a man who died in police custody after an officer placed him in an apparent choke hold. Eric Garner's relatives stopped in front of his open casket, some weeping and wailing. A preacher opened the service at Brooklyn's Bethel Baptist Church with a mix of solemn prayer and an organ-backed gospel medley.
    An overflow crowd packed a church on Wednesday night for the funeral of a man who died in police custody after an officer placed him in an apparent choke hold. Eric Garner's relatives stopped in front of his open casket, some weeping and wailing. A preacher opened the service at Brooklyn's Bethel Baptist Church with a mix of solemn prayer and an organ-backed gospel medley.
  • Another video shows NYPD cop putting man in choke hold

    Another video shows NYPD cop putting man in choke hold

    Wednesday, July 23 2014 10:08 PM EDT2014-07-24 02:08:13 GMT
    The NYPD is investigating another apparent choke-hold incident during a recent arrest that was captured on video. The video shows a police officer putting a man in a choke hold and then punching him in the face in a subway station in Harlem, police said. A community activist said he received the new video but never had any intention of releasing it to the media.
    The NYPD is investigating another apparent choke-hold incident during a recent arrest that was captured on video. The video shows a police officer putting a man in a choke hold and then punching him in the face in a subway station in Harlem, police said. A community activist said he received the new video but never had any intention of releasing it to the media.
  • New Jersey sues over Florida pizza shop logo

    New Jersey sues over Florida pizza shop logo

    The New Jersey Turnpike Authority wants a Florida pizza shop to pay a big toll for using a logo similar to the iconic Garden State Parkway's green and yellow signs.
    The New Jersey Turnpike Authority wants a Florida pizza shop to pay a big toll for using a logo similar to the iconic Garden State Parkway's green and yellow signs.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices