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Is Social Security Going Broke? Here's the Truth

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

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

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.

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About the Author

Matt Frankel, CFP
Matt Frankel, CFP, is a contributing Motley Fool stock market analyst specializing in the real estate and financial sectors. Prior to The Motley Fool, Matt taught high school and college mathematics. He holds a bachelor’s degree in physics from the University of South Carolina, a master’s degree in mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. He won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act. He is also regularly interviewed by Cheddar, Globe St, The National Desk, and other TV networks and publications for his real estate, financial, stock market, and investing expertise.
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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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