Retiring Boomers Can't Rely on Social Security
NEW YORK (MainStreet) -- Fighting the ebbing tide of an adverse economy, America's senior citizens are becoming increasingly dependent on Social Security for their retirement income. In fact, it might be the last line of financial defense for aging Americans, and at the worst possible time.
For starters, the oldest members of the baby boomer generation -- 77 million strong -- have already reached age 65 and are heading into retirement. With more Americans collecting Social Security and fewer working to contribute to the government-sponsored, taxpayer-funded pension plan, that puts even more pressure on the system.
|Social Security could be becoming the last line of financial defense for aging Americans at the worst possible time.|
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