Friday, July 13, 2012

10 Myths About Social Security

Myth 1: Social Security is going bankrupt. A quick Google search turns up plenty of supporters for this myth--none more prominent than President George W. Bush, who floated it in his 2005 State of the Union address, as he campaigned to replace Social Security with private investment accounts. "The system . . . on its current path, is headed toward bankruptcy," he said. "And so we must join together to strengthen and save Social Security."


Myth 5: We're all living longer, so we should raise the retirement age. Facts: Read all 10 at Morningstar.