{"id":325594,"date":"2021-08-16T17:11:00","date_gmt":"2021-08-16T14:11:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/retirement-weekly-happy-birthday-to-social-security-and-many-more\/"},"modified":"2021-08-16T17:11:00","modified_gmt":"2021-08-16T14:11:00","slug":"retirement-weekly-happy-birthday-to-social-security-and-many-more","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/retirement-weekly-happy-birthday-to-social-security-and-many-more\/","title":{"rendered":"#Retirement Weekly: Happy birthday to Social Security \u2014 and many more"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e65c897b7a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e65c897b7a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/retirement-weekly-happy-birthday-to-social-security-and-many-more\/#This_retirement_security_program_is_essential_to_the_well-being_of_many_Americans\" >This retirement security program is essential to the well-being of many Americans<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/retirement-weekly-happy-birthday-to-social-security-and-many-more\/#Mark_Hulbert\" >Mark Hulbert<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Retirement Weekly: H<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y birthday to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security \u2014 and many more<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"This_retirement_security_program_is_essential_to_the_well-being_of_many_Americans\"><\/span>\n  This retirement security program is essential to the well-being of many Americans<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000374769\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000374769\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Take a moment this week to wish Social Security a happy 86<sup>th<\/sup> birthday.<\/p>\n<p> Its exact birthday is on Saturday, August 14. It was that day in 1935 when then-President Franklin Roosevelt signed the Social Security into law.<\/p>\n<p>To help celebrate, I\u2019m devoting this column to appreciating Social Security\u2019s contribution to retirement financial security.<\/p>\n<div class=\"paywall\">\n       I first want to focus on how big a difference Social Security makes to the retirement financial security of many elderly. Without Social Security, many of them would be unable to make it financially.<\/p>\n<p>We often miss this sobering fact because many in the retirement financial arena pay inordinate attention to retirees who are relatively well off. I am as guilty of this as anyone. When I focus a <em>Retirement Weekly<\/em> column on the future expected returns of stocks and bonds, for example, as I did several weeks ago, I am implicitly assuming that retirees (or near retirees) have amassed sufficient wealth such that it makes a difference how well the various asset classes will perform in the future.<\/p>\n<p>But such a discussion is irrelevant to a disturbingly large number of retirees and near-retirees. According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/institutional.vanguard.com\/content\/dam\/inst\/vanguard-has\/insights-pdfs\/21_CIR_HAS21_HAS_FSreport.pdf\" class=\"icon none\">Vanguard<\/a>, for example, 29% of the 401(k) accounts at Vanguard have less than $10,000 in assets. And that\u2019s among those investors who have a 401(k) in the first place. Many others have nothing.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:67.28571428571428%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-384834?width=540&amp;size=1.4849187935034802 540w, https:\/\/images.mktw.net\/im-384834?width=620&amp;size=1.4849187935034802 620w, https:\/\/images.mktw.net\/im-384834?width=639&amp;size=1.4849187935034802 639w, https:\/\/images.mktw.net\/im-384834?width=700&amp;size=1.4849187935034802 700w, https:\/\/images.mktw.net\/im-384834?width=700&amp;size=1.4849187935034802&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-384834?width=700&amp;size=1.4849187935034802&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-384834?width=700&amp;size=1.4849187935034802&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-384834?width=700&amp;height=471\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       For retirees and near-retirees in these groups, needless to say, Social Security inevitably represents the lion\u2019s share of their retirement income. This proportion will almost certainly grow in coming years, but it\u2019s already sizable: According to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ssa.gov\/news\/press\/factsheets\/basicfact-alt.pdf\" class=\"icon none\">Social Security Administration<\/a>, \u201c21% of married couples and about 45% of unmarried persons rely on Social Security for 90% or more of their income.\u201d<\/p>\n<p>One way of appreciating the significance of these sizable percentages is what the poverty rate would be among the elderly if Social Security did not exist. According to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/fas.org\/sgp\/crs\/misc\/R45791.pdf\" class=\"icon none\">Congressional Research Service<\/a>, the proportion of those over 65 who live below the poverty lines would grow from 8.9% to 35.8% without Social Security benefits and assuming no other changes.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:70.28571428571428%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-384835?width=540&amp;size=1.4222222222222223 540w, https:\/\/images.mktw.net\/im-384835?width=620&amp;size=1.4222222222222223 620w, https:\/\/images.mktw.net\/im-384835?width=639&amp;size=1.4222222222222223 639w, https:\/\/images.mktw.net\/im-384835?width=700&amp;size=1.4222222222222223 700w, https:\/\/images.mktw.net\/im-384835?width=700&amp;size=1.4222222222222223&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-384835?width=700&amp;size=1.4222222222222223&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-384835?width=700&amp;size=1.4222222222222223&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-384835?width=700&amp;height=492\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       Crisis is such an overused word today. But a poverty rate that high would most certainly be a crisis of the first magnitude.<\/p>\n<p><strong>Social Security\u2019s finances<\/strong><\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>As is widely known, the Social Security trust fund is slated to run out of money in the mid-2030s. If Congress doesn\u2019t make changes by that time, Social Security recipients would begin receiving only about 75 cents on the dollar of amounts otherwise owed to them.<\/p>\n<p>It\u2019s perhaps inevitable that our politicians will want to postpone as long as possible making the necessary changes to restore the Social Security trust fund\u2019s long-term solvency. This is what happened the last time that this fund was about to run out of money, in 1983. As I\u2019ve written before, Congress on that occasion didn\u2019t make the necessary changes until there were just four months to spare.<\/p>\n<p>So it\u2019s a good bet that it will be at least another decade before Congress finally makes these changes. But that\u2019s a shame, since the sooner they are made the less onerous they need to be.<\/p>\n<p>Perhaps the best birthday present we can give Social Security would be to urge our elected representatives to makes changes that will insure Social Security\u2019s solvency for decades to come.<\/p>\n<p><em>Mark Hulbert is a regular contributor to MarketWatch. His Hulbert Ratings tracks investment <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letters that pay a flat fee to be audited. He can be reached at mark@hulbertratings.com<\/em>.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark Hulbert\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/mark-hulbert\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/MktwHulbert\",\"text\":\"@MktwHulbert\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:contributors@marketwatch.com\",\"text\":\"contributors@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mark_Hulbert\"><\/span>Mark Hulbert<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-75B7-F1FA6EF03EB2%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Retirement Weekly: Happy birthday to Social Security \u2014 and many more&#8221; This retirement security program is essential to the well-being of many Americans Take a moment this week to wish Social Security a happy 86th birthday. Its exact birthday is on Saturday, August 14. It was that day in 1935 when then-President Franklin Roosevelt signed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":325595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-325594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/325594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=325594"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/325594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/325595"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=325594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=325594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=325594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}