A question that we hear at all our seminars is whether or not Social Security will there when we need it. The Social Security program is self-funded by workers, not from government subsidies. It is supported by the workers, for the workers. Social Security is not an entitlement program; it is an earned right. You must qualify for the benefits based on your own work history; and must be 62 years of age to qualify. Some exceptions to these rules are widows and family benefits.

Estimates are that the Social Security surplus will disappear by 2033. This does not mean Social Security will go away; it means that adjustments need to be made. If nothing is done, estimates are that in 2034, the program will only pay 75% of your estimated benefit. Some adjustments that have been discussed are moving the Full Retirement Age from 66 to 68 or higher, all earnings would become subject to tax, decreasing the percentage of Delayed Retirement Credits, and delaying eligibility from age 62 to age 64.