Ask Terry Questions Social Security Benefits – Should I be worried?

Social Security Benefits – Should I be worried?

By Terry Savage on October 25, 2022 | Financial Planning / Retirement

Hi Terry – I regularly listen to you on WGN and read your newsletter. My wife and I started taking Social Security about a year ago. We are both at full retirement age and neither one of us has a pension so this money is vital to us on a monthly basis. My question is: Should I be worried if the Republicans take control of Congress? They have threatened radical changes to the benefit. I am not sure if I am unduly worried or not! Please help if you can.

Terry Says

Do not worry about your SocialSecurity. We boomers are many millions strong. They wouldn’t dare!! Seriously, relax. About one-third of the people who collect Social Security rely on it for at least 90% of their living expenses. You’ll be fine. Enjoy this time of life, especially if you’re healthy!

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