GOVERNMENT HELP FOR YOUR RETIREMENT
How Social Security Fares over the Next 35 Years
Trillions of dollars (nominal)
Figure 13.3 By the year 2015, Social Security will be paying out more in benefits than it is receiving in taxes from workers. This trend will cause the program to begin depleting its trust funds to the point where they are exhausted. By the year 2037, Social Security will only be able to meet approximately 72 percent of its benefit obligations. That money will come directly from the Americans who are still work- ing and paying taxes.
working right now need to have worked for 10 years in order to qual- ify for social security retirement benefits.
If you stopped working before you reach your 40 credits, the amount you have already earned remains on your record. Then, if you go back to work, you will continue to add credits to your record