U.S. Markets closed

Possibly the best Social Security claiming strategy for millennials

Alessandra Malito
Possibly the best Social Security claiming strategy for millennials

Many young Americans don’t believe they’ll ever see the benefits of Social Security — and that might be a good thing. Social Security, which was enacted 84 years ago this week, is a lifeline for Americans across the country, but the program is at risk of turmoil. The two trust funds that support the program, which pays benefits to retirees, disabled Americans and disadvantaged children, may be out of money in 15 years, in which case beneficiaries would receive about 80% of the benefit they’re owed, according to a Social Security trustees report released earlier this year.