Describe your view on the future of the Social Security program. How do you think this program will look in 20 years?

answer example ..I do not think the current Social Security program will be able to last another 20 years. Personally, I am not going to plan on getting any money from Social Security upon retirement and plan to save through a 401k plan. I think that the baby boomer generation will use up the last of the Social Security resources due to a large number of people retiring around the same time. Hopefully, a new and better system can be implemented, but until then I will rely on my own savings to financially support myself after retirement.

Answer preview

In my view, the future of the social security program remains a mystery to many of the people. It leaves the beneficiary with a dozen questions. According to a report by The Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund (2017), the annual receipts will only cover the annual expenses until the year 2021. This report projects that the reserves of the Social security program will be depleted in 20 years’ time. There is a perception that annual tax corrected will only cover a fraction of the benefits. This problem is attributed to the increase…

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