Many have concerns as to whether Social Security will be there for them when they retire. Social Security certainly has it it's financial challenges. According to the 2022 Trustees Report they are projecting that they will be able to pay promised retirement and survivor benefits until 2034. They estimate at that point the trust fund will be depleted and they would only be able to pay 77 cents on the dollar.
How could they even pay 77% of promised benefits if the trust fund was depleted. And what is the likelihood that they will actually be able to pay 100 percent of promised benefits beyond 2034?