For decades you have heard that Social Security is going to run out of money, and it won’t be there for you when you retire. Reality might be different than perception. And financial planner Richard Rosso says that's just not true. Social Security will survive longer than you think.
“As long as you have workers that are paying payroll taxes you will continue to have Social Security,” Rosso said.
But there is a problem that Rosso says we aren't really paying attention to. Social Security has turned into something it wasn't meant to be.
“It’s gone from being a basic income to being a pension for many people. There are many people who are dependent on Social Security for over 50% of their income,” Rosso explained.