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Millennials Can Count on Social Security After All

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Are you convinced the Social Security system is on life support, not long for this world? You’re not alone.

Eighty percent of millennial workers say they’re worried Social Security won’t be there for them, according to a 2017 study by the Transamerica Center for Retirement Studies, which counts millennials as those born from 1979 to 2000.

You can relax: There is “zero doubt that Social Security will be there for millennials,” says Dean Baker, a senior economist at the Center for Economic and Policy Research.

Even if nothing is done to shore up the system, Baker says people retiring in 30 to 40 years can count on about 10% more money, in inflation-adjusted dollars, from Social Security than what today’s beneficiaries get.

That’s even...

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