9 Reasons Social Security Is More Reliable Than You Think

A surprising number of Americans -- and especially young people -- don't believe Social Security will be there for them.

But while distrust in Social Security is common, the reality is that there's little reason to worry about benefits not being available for future retirees.

In fact, here are nine good reasons why Social Security is more reliable than you think.

The $17,166 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $17,166 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.

Social Security isn't a fly-by-night fad. The program was established in 1935, which makes it 86 years old.

A government benefit that's been around for that long is deeply woven into the fabric of American's lives.

Multiple generations have relied upon it, and people consider it their birthright as Americans to be provided with this source of support in their older age. It's unlikely that a public who has been promised these benefits would simply sit back quietly if they were to disappear.

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According to AARP surveys, Social Security is supported by 96% of Americans. This includes Republicans, Democrats, and independents.

Politicians like to do popular things, and very few are interested in being responsible for dismantling a program with near-universal support. Its popularity alone ensures that Social Security is very likely to survive for the long term.

According to a 2019 analysis, 21.7 million more people would be in poverty if it weren't for Social Security benefits. The vast majority of those people are retirees.

Seniors are a reliable voting block. Politicians will protect a program that keeps millions of them out of poverty.

And the public is unlikely to stand for any changes that would do so much damage to the financial security of millions of seniors.

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When you listen to politicians talk about Social Security, there's very rarely a discussion of ending the program or even making cuts to it.

Instead, the focus is always on shoring it up.

While lawmakers may disagree about how best to modify the program to make it more financially stable, ultimately the end goal shared by lawmakers on both sides of the aisle is to preserve and protect these benefits for future generations.

The $17,166 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $17,166 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.

Although there have been attempts to modify Social Security, none have been successful since 1983 -- more than 38 years ago.

The fact that Social Security has been changed just once over close to 90 years -- and that the modifications happened so long ago -- shows that it has strong staying power and is entrenched into American life in a way that would be difficult to change in a way that adversely impacts retirees.

Social Security is often considered the "third rail" of politics, with no one wanting to rock the boat on modifying benefits.

Since it's so difficult to modify Social Security, the chances of anything happening that ends the program or seriously threatens its future is very slim.

Unlike many government programs, Social Security has a dedicated funding stream. It's supported by payroll taxes, which are collected directly from worker paychecks and put into a trust fund.

This means the government cannot easily cut money from Social Security or divert it to other programs. And the funding mechanism is a very reliable one, because as long as people keep working, money will keep pouring into its coffers.

ALSO READ: How Much Are Payroll Taxes in 2021?

Most of the concern about Social Security's future comes from the status of the program's trust fund. The Trustees have warned that the fund is expected to run dry by 2035 unless changes are made.

However, what people often don't understand is that payroll tax revenue will keep coming. And that's enough to pay about 76% of promised benefits even if lawmakers don't address the trust fund issues.

While that's not everything seniors are entitled to, it's still quite a bit of money that retirees can count on. And odds are, lawmakers aren't about to let a 24% benefits cut go into effect, either.

The $17,166 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $17,166 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.

Finally, Social Security benefits are a very reliable source of retirement income because cost-of-living adjustments (COLAs) are built into the program.

These are periodic raises intended to ensure benefits keep pace with inflation and don't lose buying power.

While COLAs don't do a perfect job, they ensure that Social Security can continue to be an important income source for seniors year after year.

The bottom line is, you are going to get Social Security benefits as a retiree.

These benefits won't be enough to live on, though, since they aren't designed to be. So while you can count on getting your checks, you should have supplementary savings as well.

Your nest egg, combined with the benefits you receive, should hopefully provide plenty of money for you to enjoy your later years.

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