fbpx

Will Social Security Run Out Of Money?

Know someone else that would be interested? Please share this page with a friend.

The third way to possibly put the Social Security system back on track is to follow the route that other entitlement programs, Medicare, has done. Medicare premium has been means-based tested. Meaning, the more you make the more you pay.

For example, if you are married and make less than $176,000 the Medicare premium is $148.50 however if you make more than $176,000 your premium jumps to $207.90 and if you make more than $222,000 it is $297.

Social Security could potentially do the same. Make Social Security benefits means based tested, meaning the more you make the less you get. We do not know if this will happen, but it is what has happened with other entitlement government programs.