There are several different myths about Social Security, and this article debunks some of the more common ones. According to this article Social Security benefits will not disappear in the future. It is true that the trustees who manage the Social Security trust fund are projecting that it will run out by 2034, but that does not mean that Social Security will stop paying out benefits. “Every year, the Social Security Administration collects revenue to help pay benefits. Most of the revenue comes from payroll taxes on wages and salaries, but there are some other sources, including interest on trust fund balances and the income taxes that some Social Security recipients pay on their benefits.” Another common myth is that people should start taking Social Security benefits as soon as they qualify. It is also important for people to consider the impact that their decisions about Social Security will have on their family.
See Dan Caplinger, 3 Social Security Myths – Debunked!, My San Antonio, April 4, 2016.
