Officially called the “2019 Annual Report of the Board of Trustees of the Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds”
But for us regular folks, the 2019 Social Security report was released today.
And lemme tell ya. It aint pretty.
- $83B earned on $2.9T in assets. A return of 2.8%
- Starting in 2020 (…that’s next year!), Social Security costs will exceed the money it earns from interest and taxes
- In 15 years, the main SS fund will be fully depleted.
From page 2 (page 2!) of the report:
If you are interested in finding out how life insurance can be used to generate more guaranteed income in retirement, get in touch today!