I'm 30 yrs. old will there be social security for my generation.?

Answer 1

yes but it will not pay as high a percentage of your living expenses as it does for retirees today

Answer 2

There might be. If so, consider it an old age benefit but don't plan on living on that amount. Start now with your own retirement account. Just putting away 10% of your income, tax free, will give you a very nice retirement fund for your golden years. You still have 35 or so years until you retire but the sooner you start a 401K or IRA plan, the more your money will work for you. It's quite possible to have $1 million by retirement. That way if Social Security is around, it'll buy you some prune juice and denture cleaner but if not, you'll be able to buy your own.

Answer 3

hehehehehehehehhehe

You have got to be kidding. By the time you (and I) retire, retirement age will be in the 80's. We will be lucky to live long enough to get a dime.

Our generation will pay more into social security and get less out of it than any other generation.

Our children will end up having to pay higher and higher taxes and again, will be lucky to live long enough to qualify.

Congress has absolutely no incentive to apply a real fix to this either. They will get pensions for the rest of their lives, on our dimes, and so don't feel the pain and fear that we do.

Start saving now my friend, that is the only way people in their 30's will ever be able to "retire."

Answer 4

Yes but the retirement age will be increased and the benefits reduced. But you will be pleased to know that your Social Security taxes are being increased so that you can be assured that there will be enough in the SS fund to give you your $1 a month.

Answer 5

I'm 35. I certainly hope Social Security has been replaced with personal responsibility before I retire.