Is Social Security Going to Run Out?

One of the most common questions we get is about Social Security and whether it’s going to run out. If you only read headlines, it seems to be a valid concern. But what’s the reality of the situation and how does it impact you when it’s time to file for Social Security? This is a cornerstone of income planning for many Americans, but the future of Social Security often seems uncertain. In this episode, Erik dives deep into the mechanics and projections of Social Security, providing listeners with a comprehensive understanding of its current state and future outlook. Discover historical insights, potential legislative changes, and strategic advice on when and how to file for Social Security benefits. Here’s what we discuss in this episode: 0:00 – Intro 1:43 – 2024 Trustees Report 2:40 – What goes into the projection? 4:30 – What happens if it runs out? 6:10 – Making Social Security more viable 10:15 – When will change happen? 12:34 – Retirement planning 14:47 – Filing strategies #socialsecurity #retirementplanning FREE Social Security Planning Guide: https://www.bowmanfinancialstrategies... ___________________________________________________________________ Get in Touch: Phone: (303) 222-8034 Book an appointment with us: https://www.bowmanfinancialstrategies... Our website: https://www.bowmanfinancialstrategies... LinkedIn:   / bowmanfinancialstrategies   Facebook:   / bowmanfinancialstrategies   Investment advisory services offered through CreativeOne Wealth, LLC, a registered investment advisor. Bowman Financial Strategies and CreativeOne Wealth are unaffiliated entities. We are not affiliated with or endorsed by any government agency, and do not provide tax or legal advice. Investing involves risk, including possible loss of principal. No investment strategy can ensure a profit or guarantee against losses. Licensed insurance professional. Insurance product guarantees are backed by the financial strength and claims-paying ability of the issuing company. The information presented is for informational purposes only and should not be construed as a recommendation or advice for your specific circumstances. Always consult with qualified financial, tax and legal advisors.