I have been hearing "Social Security" will be gone all my life. That isn't going to happen. Look at the outrage whenever they even hint at changing anything. They can raise the age, they can tinker with means testing, but there will be SS. FVBrewerfan, Social Security will be here. It doesn't pay out very much on average now (a little over $1200/month on average), and it will only pay out less. Created in the 1930s, the Social Security Trust Fund ran a surplus until 2009. Beginning in 2010 (I believe in part due to the Obama temporary tax cut), the SSA began collecting less money annually than it was due to pay out. Therefore, the Trust Fund was tapped into. By 2033 the Trust Fund will be drained and tax collections will only cover 75% of expenditures. Therefore, massive changes will be needed, likely a combination of tax increases, benefit cuts, means testing, and increasing the eligibility age. Perhaps SSA will also stop some of it's long-term disability coverage. In 2033, the Social Security shortfall is projected at over $600B. Congress needs to do something about this. They should have done something about this years ago. That's why all people today need to be investing. I love asking my students if they could save $5 every pay period, and they all raise their hands. Then point out that at normal growth rates, $5/pay period would amass $40k+ of wealth by retirement age. We can all do a better job of this. SS will always be around as long as the public demands it and seniors vote in disproportionate numbers. A few years ago Paul Walker toured America sharing his economic ideas and his four point on SS is what DHonks mentioned.