What is Social Security?

Social Security is the comprehensive federal program of benefits providing workers and their dependents with retirement income, disability income, Medicare, Medicaid and other payments. The Social Security tax is used to pay for the program, which is in serious financial trouble due to longer life expectancies, a large baby boomer population currently entering retirement age, and inflation. 


See Also:

Ask An Advisor: When Should I Collect Social Security?

Behind on Your Savings? (That Would Be Most of Us)

How to Efficiently Turn Savings into Income

How Much Do I Need to Retire?

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