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Is Social Security Going Broke? Here's the Truth

By Matt Frankel – Aug 28, 2024 at 7:41AM

There are a lot of misconceptions about the financial state of Social Security, so let's clear things up.

You may have heard that Social Security is going broke or that it has no money left. There are several common misconceptions and half-truths about Social Security, and Americans should know the true condition of the program. In this video, Certified Financial Planner® Matt Frankel discusses the good and the bad.

About the Author

Matt Frankel, CFP, is a contributing Motley Fool Personal Finance Expert and Stock Market Analyst covering financial and real estate sectors, plus personal finance. Prior to The Motley Fool, Matt was a high school and collegiate mathematics instructor. He holds a B.S. in Physics from University of South Carolina, an M.S. in Mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. Fun fact: Matt won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act.

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The Motley Fool has a disclosure policy. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

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