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When Social Security Runs Out: What the Program Will Look Like in 2035

GOBankingRates Logo By Cameron Huddleston of GOBankingRates | Slide 1 of 21: The future of Social Security remains uncertain, forcing people to ask questions like, "Will Social Security run out?" According to the 2020 annual report from the board of trustees of the Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund, Social Security's income is expected to exceed its expenses this year. The report projects that reserves will be fully depleted by 2035 and annual taxes are expected to cover only about three-quarters of the benefits each year after that. Check Out: How Long $500K Will Last in Retirement in Each State Retirement: Jaw-Dropping Stats About the State of Retirement in America See what else awaits Social Security in the near future and find out what the program will look like in 2035 -- you might want to learn how to stretch your money now.

The future of Social Security remains uncertain, forcing people to ask questions like, "Will Social Security run out?" According to the 2020 annual report from the board of trustees of the Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund, Social Security's income is expected to exceed its expenses this year. The report projects that reserves will be fully depleted by 2035 and annual taxes are expected to cover only about three-quarters of the benefits each year after that.

Check Out: How Long $500K Will Last in Retirement in Each State
Retirement: Jaw-Dropping Stats About the State of Retirement in America

See what else awaits Social Security in the near future and find out what the program will look like in 2035 -- you might want to learn how to stretch your money now.

© jacoblund / Getty Images/iStockphoto

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