Are your social benefits at risk? The truth about the agency’s health and what can be done to strengthen it
Are your social benefits at risk?  The truth about the agency’s health and what can be done to strengthen it

Are your social benefits at risk? The truth about the agency’s health and what can be done to strengthen it

WASHINGTON, March 1, 2022 / PRNewswire / – Today, the savings accounts from which social security draws funds to pay the over 60 million people who receive benefits are almost worth $ 3 trillion. In 12 years, this figure is expected to be zero, which is largely due to an increase in the number of retirees not matched by the growth in jobs in America. If these trust funds are depleted as expected, Americans may face the first slash in promised benefits in the program’s history.

What exactly is going on? And more importantly, what can be done to support a program that is both loved and important to so many Americans?

That AARP Bulletin posted a team of valued journalists to look at health and the future of social security from multiple angles and to detail what choices need to be made by Congress to guarantee full benefits to all who have served them, for all eternity. That’s work to be done: without social security, 21.7 million more Americans would be below the poverty line. About 40 percent of retired Americans are completely dependent on the monthly income it provides. And the program is almost universally supported across the political spectrum.

But the steps needed to stabilize the program’s finances – a certain level of benefit cuts, revenue increases or both – are politically challenging. That Bulletin provides a comprehensive look at what these choices are, and outlines the next steps that are likely to be taken to address the challenge.

Also learn in the cover story:

  • 6 important facts to know about social security that can help you get more value out of it;
  • Why customer service is deteriorating at the agency and what plans it has to improve;
  • 5 tips to call SSA customer support and get the help you need.

Plus: When to start receiving social benefits? Many financial professionals believe that you have to wait until the age of 70 to start receiving social benefits. But there are compelling arguments for taking your retirement check earlier. We asked two financial advisors to list the pros and cons of taking social security at age 70 compared to when you have reached full retirement age.

Also in the March issue:

Your health

  • Gaining weight as you get older can be avoided and even reversible: Extra protein when eaten at the right time can be an effective way to shed those extra pounds while maintaining muscle. Learn this month about AARP’s new book, ‘The Whole Body Reset’, which discusses how protein timing can lead to better health and more energy.
  • Why age and alcohol are not mixed: Have you started drinking more during the pandemic? If so, you are not alone. During the pandemic, 14% of older adults reported an increase in alcohol consumption, according to a national survey of University of Michigan researchers. Read this month’s issue to learn the effects of alcohol on your body as you get older and when to limit your consumption.

Fraud Watch

  • Do not let FOMO snatch you: Do you have FOMO (fear of missing out)? The phenomenon is more than just a slogan – it can influence people to make hasty decisions that can make them more susceptible to scammers. Read this month’s “Fraud Watch” for tips on stopping scammers in their tracks.

Your money

  • An honest guide to digital financial tools: Whether it’s sending money to the family, tipping, budgeting or paying your bills: There’s an app for that. Every financial task you can imagine has been digitized. But is digital always better? In this month’s “Your Money” we hear from financial professionals about the risks and benefits of the digital opportunities for five common money activities.
  • good as new? When to buy renovated: Inflation? lack? No problem! You can get what you want at prices you will love if you shop for refurbished items. By buying used or used, you can save up to 70% of the market price of the item. This month’s edition helps you decide if this is something you should start buying used.

Your life

  • Q&A with Good Morning America’s Robin Roberts: In this month’s Q&A, the well-known anchor and author of the new book ‘Brighter by the Day’ describes how she finds joy while facing a life-threatening illness. Robin discusses her childhood, her experience of becoming public with her illness and more.

About AARP
AARP is the nation’s largest non-profit, non-partisan organization dedicated to giving people 50 and older the opportunity to choose how they live as they get older. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal satisfaction. AARP also produces the country’s largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org, www.aarp.org/espanol or follow @AARP, @AARPenEspanol and @AARPadvocates, @AliadosAdelante on social media.

KILDE AARP

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