{"id":9521,"date":"2022-07-24T06:36:39","date_gmt":"2022-07-24T10:36:39","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=9521"},"modified":"2022-07-24T06:36:39","modified_gmt":"2022-07-24T10:36:39","slug":"millennials-may-get-hit-with-a-loss-of-up-to-675000-in-social-security-benefits","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=9521","title":{"rendered":"Millennials may get hit with a loss of up to $675,000 in Social Security benefits"},"content":{"rendered":"<div id=\"caas-content-body\">\n<div id=\"content-wrapper\">\n<div id=\"module-article\">\n<div id=\"caas-art-9e76107a-05dc-4432-a2e1-b3e2b2e184c6\" class=\"caas caas-cc money enableAdSlotsOneSlot enableLiveConfig enableSingleSlotting enableSlideShowKV enableVideoDocking enableVideoThirtyView enableXrayEntityAboutFacts exposeYctIds noRapidClickClass removeDuplicateImage showCommentsIconInShareSec slideshowv2 caas-click-attached\" data-assets=\"[]\" data-cobrandname=\"\" data-device=\"desktop\" data-i18n=\"{&quot;{0} min&quot;:&quot;{0} min&quot;,&quot;{0} min read&quot;:&quot;{0} min read&quot;,&quot;{0} mins read&quot;:&quot;{0} mins read&quot;,&quot;{0} Views&quot;:&quot;{0} Views&quot;,&quot;{0} followers&quot;:&quot;{0} followers&quot;,&quot;{0} symbols&quot;:&quot;{0} symbols&quot;,&quot;{0} at {1}&quot;:&quot;{0} at {1}&quot;,&quot;360_TITLE&quot;:&quot;The 360&quot;,&quot;Ad&quot;:&quot;Ad&quot;,&quot;AD_PLACEHOLDER_TEXT&quot;:&quot;Advertisement&quot;,&quot;AND&quot;:&quot;and&quot;,&quot;AR_INLINE_FALLBACK&quot;:&quot;This story has augmented reality! 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[Video]&quot;,&quot;VIDEO_TRANSCRIPT&quot;:&quot;Video Transcript&quot;,&quot;VIDEO_A11Y_DISABLE_FULLSCREEN&quot;:&quot;Full Screen, button, disabled, temporarily not available for screen reader users&quot;,&quot;VIEW_AR_IMAGE&quot;:&quot;View this in your space in AR&quot;,&quot;VIEW_PHOTOS&quot;:&quot;View photos&quot;,&quot;YOU_MAY_ALSO_BE_INTERESTED_IN&quot;:&quot;You may also be interested in:&quot;,&quot;VERSUS&quot;:&quot;vs&quot;,&quot;WATCHLIST&quot;:&quot;Watchlist&quot;}\" data-lang=\"en-US\" data-tz=\"America\/New_York\" data-params=\"{&quot;features&quot;:{&quot;enableAdSlotsOneSlot&quot;:true,&quot;enableLiveConfig&quot;:true,&quot;enableSingleSlotting&quot;:true,&quot;enableSlideShowKV&quot;:true,&quot;enableVideoDocking&quot;:true,&quot;enableVideoThirtyView&quot;:true,&quot;enableXrayEntityAboutFacts&quot;:true,&quot;exposeYctIds&quot;:true,&quot;noRapidClickClass&quot;:true,&quot;removeDuplicateImage&quot;:true,&quot;showCommentsIconInShareSec&quot;:true,&quot;slideshowv2&quot;:true},&quot;config&quot;:{&quot;authorBylineCollapseLineCount&quot;:2,&quot;commerceMiniProductListLimit&quot;:5,&quot;freezeOnLinkClick&quot;:true,&quot;lazyOffsetY&quot;:1300,&quot;livecoverage&quot;:{&quot;defer&quot;:false},&quot;imageCaptionCollapseLineCount&quot;:3,&quot;uiShowPreviousButtonOnLoad&quot;:true}}\" data-space-id=\"1197808627\">\n<article class=\"caas-container\" tabindex=\"-1\" role=\"article\">\n<div class=\"caas-body-wrapper\">\n<div class=\"caas-body-content\">\n<div class=\"caas-body-inner-wrapper\">\n<div class=\"caas-body-section\">\n<div class=\"caas-content wafer-sticky wafer-loader-success\" data-wf-sticky-boundary=\"caas-body-section\" data-wf-sticky-offset=\"165px 10px\" data-wf-sticky-target=\".caas-share-buttons\">\n<div class=\"caas-content-wrapper\">\n<header class=\"caas-header\">\n<div><\/div>\n<div class=\"caas-logo\"><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\"><figure class=\"wp-block-embed wp-block-embed-youtube is-type-video is-provider-youtube epyt-figure\"><div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\"  id=\"_ytid_25015\"  width=\"640\" height=\"360\"  data-origwidth=\"640\" data-origheight=\"360\" src=\"https:\/\/www.youtube.com\/embed\/OvUDjv6ZM30?enablejsapi=1&autoplay=0&cc_load_policy=0&cc_lang_pref=&iv_load_policy=1&loop=0&rel=1&fs=1&playsinline=0&autohide=2&theme=dark&color=red&controls=1&disablekb=0&\" class=\"__youtube_prefs__  no-lazyload\" title=\"YouTube player\"  allow=\"fullscreen; accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen data-no-lazy=\"1\" data-skipgform_ajax_framebjll=\"\"><\/iframe><\/div><\/figure>Millennials who often gripe they won\u2019t see a dime in Social Security may be right all along. Counting on entitlement benefits when they retire may be a fool\u2019s game.<\/span><\/div>\n<\/header>\n<div class=\"caas-body\">\n<p>Unless there are reforms to the Social Security program before the surplus is depleted in 2034, millennials should expect roughly a 20% reduction in Social Security benefits when it\u2019s time to turn on their monthly checks, according to a new\u00a0<a class=\"link \" href=\"https:\/\/hvsfinancial.com\/wp-content\/uploads\/2022\/06\/SocialSecurityMillennials.pdf\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:report\" data-rapid_p=\"9\" data-v9y=\"1\">report\u00a0<\/a>conducted by Healthview Services, a provider of retirement data to the financial services industry. That largely aligns with the annual report from the trustees of the program\u00a0<a class=\"link yahoo-link\" href=\"https:\/\/money.yahoo.com\/social-security-surplus-last-longer-003831431.html\" data-ylk=\"slk:released;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" data-rapid_p=\"10\" data-v9y=\"1\">released\u00a0<\/a>earlier this month.<\/p>\n<p>For 35-year-old millennials (the midpoint age of this generation), the loss of lifetime benefits for earnings between $50,000 and $150,000 today would be $365,000 to $675,000, according to the paper\u2019s findings using that 20% reduction as a guide.<\/p>\n<p><strong><a href=\"https:\/\/money.yahoo.com\/millennials-may-be-right-about-social-security-135350425.html\">Read on Yahoo Money<\/a><\/strong><\/p>\n<p>Those are big numbers, but take a breath. Social Security is not disappearing. It\u2019s expected to continue to be a source of income in retirement for most retirees. The reality is that millennials will probably collect less in Social Security than their parents and grandparents.<\/p>\n<h2><strong>How millennials can make-up the difference starting now<\/strong><\/h2>\n<p>It\u2019s not a total wipe out, and the gap can be plugged with a dollop more stashed away in retirement accounts. A 35-year-old earning $100,000 a year today would need to pony up an additional, inflation-adjusted $33 a week over the course of their career to make up for a 20% lifetime reduction in Social Security benefits, according to the report.<\/p>\n<p>The estimate takes into its analysis a 50% employer match, 6% annual returns during their working years, and 5% annual returns during their retirement years, which begin at age 67 and last for a lifetime that ends at age 87. Under the same parameters, someone earning $50,000 a year would need to set aside an extra $21 a week.<\/p>\n<p>\u201cAlthough it\u2019s unclear when or how reforms to Social Security will take place, millennials can and should factor the various scenarios into their retirement planning assumptions,\u201d\u00a0<a class=\"link \" href=\"https:\/\/transamericainstitute.org\/about-us\/our-team#collinson\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:Catherine Collinson\" data-rapid_p=\"11\" data-v9y=\"1\">Catherine Collinson<\/a>, CEO and president of\u00a0<a class=\"link \" href=\"https:\/\/www.transamericainstitute.org\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:Transamerica Institute\" data-rapid_p=\"12\" data-v9y=\"1\">Transamerica Institute\u00a0<\/a>and Transamerica Center for Retirement Studies, told Yahoo Money.<\/p>\n<p>\u201cOver the years, my team\u2019s research has found that many millennials are saving for retirement, but they are not fully engaging in retirement planning, so this is a compelling reason to get started maxing out contributions to tax-advantaged retirement accounts such as 401(k) or similar plans or IRAs,\u201d Collinson added. \u201cThey should also open, if feasible,\u00a0<a class=\"link yahoo-link\" href=\"https:\/\/money.yahoo.com\/healthcare-costs-in-retirement-194143001.html\" data-ylk=\"slk:Health Savings Accounts;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" data-rapid_p=\"14\" data-v9y=\"0\">Health Savings Accounts<\/a>\u00a0which offer tax-advantages for saving for health care-related expenses for short-term and long-term retirement needs.\u201d<\/p>\n<h2><strong>Fear of Social Security vanishing strikes workers of all ages<\/strong><\/h2>\n<p>The steady drum of reports about the possible demise of Social Security stirs up angst for workers of all ages. Roughly a third of employed workers (36%) cite the retirement fear that Social Security will be reduced or cease to exist in the future, according to a\u00a0<a class=\"link \" href=\"https:\/\/transamericainstitute.org\/docs\/default-source\/research\/emerging-from-the-covid-19-pandemic-the-retirement-outlook-of-the-workforce.pdf\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:survey\" data-rapid_p=\"15\" data-v9y=\"0\">survey<\/a>\u00a0released this week by Transamerica Center for Retirement Studies. Seventy percent of workers agree with the statement: \u201cI am concerned that when I am ready to retire, Social Security will not be there for me.\u201d<\/p>\n<p>The fear is not unfounded. An aging population is the catalyst for the shrinking fund. The workforce is no longer growing. There are fewer young workers contributing to the program and a burgeoning number of baby boomer retirees are living longer and receiving benefits.<\/p>\n<p>Do the math.<\/p>\n<p>\u201cRetiree benefits are paid by the payroll taxes of current workers, and there are only a few workers per retiree these days, compared with much larger ratios in the past,\u201d Philip Moeller, a Medicare and Social Security expert and principal author of the \u201c<a class=\"link \" href=\"https:\/\/philmoeller.substack.com\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:Get What\u2019s Yours\u201d\" data-rapid_p=\"16\" data-v9y=\"0\">Get What\u2019s Yours\u201d<\/a>\u00a0series of books about Social Security, Medicare, and health care, told Yahoo Money.<\/p>\n<p>As recently as 2008, it was around 3.3-to-1, but by 2035, it is projected to be 2.3-to-1, Ron Mastrogiovanni, CEO of HealthView Services, told Yahoo Money.<\/p>\n<p>\u201cWhile most millennials are not counting on Social Security to the extent of previous generations, it will play an important role in their retirement income planning,\u201d he said.<\/p>\n<h2><strong>A myriad of potential changes for millennials<\/strong><\/h2>\n<p>There are some solutions being floated.<\/p>\n<p>\u201cTo extend solvency, the government could raise the cap for contributions to exceed $147,000,\u201d he said. The Social Security tax limit is the maximum amount of earnings subject to Social Security tax. The Social Security taxable maximum is $147,000 in 2022. Workers pay a 6.2% Social Security tax on their earnings until they reach that amount of earnings for the year.<\/p>\n<p>Other possibilities: Delay full retirement age to 69 to collect 100% of the benefit for those who aren\u2019t close to retirement, up from the current 67 for those born in 1960 and after. The minimum age to claim benefits could be bumped up to 65 from 62. The payroll tax itself could be increased, or implement a combination of these, Mastrogiovanni said.<\/p>\n<p>But to be honest, an increase in the full retirement age, which is probably the simplest adjustment Congress can make, is at its heart, a cut in the benefit for millennials.<\/p>\n<p>That example of a 35-year-old making $100,000, and living to a projected age 87 would receive $2.8 million in lifetime benefits by claiming at a full retirement age of 67, and $2.6 million by claiming at a full retirement age of 69, a difference of $211,913, according to HealthView Services.<\/p>\n<p>\u201cWorkers of all ages need to believe that Social Security will be there for them, so Congress needs to get its act together quickly to put the program on solid financial ground,\u201d Moeller said. \u201cThere&#8217;s no way to escape this \u2018retirement math,\u2019 even with much higher payroll taxes on high-earning workers. Private savings will thus play a larger role in retirement planning, and socking away money at younger ages is essential.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p><a class=\"link caas-attr-logo\" title=\"\" href=\"https:\/\/www.yahoo.com\/author\/kerry-hannon\" data-ylk=\"elm:icon;slk:Kerry Hannon\" data-rapid_p=\"7\" data-v9y=\"1\"><img decoding=\"async\" class=\"caas-img\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/idIDpzmXl_bIC2JZkIj6FQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTgwO2g9ODA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2022-03\/57a5f580-a3cd-11ec-b1fc-d323fa628773\" alt=\"Kerry Hannon\" data-src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/idIDpzmXl_bIC2JZkIj6FQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTgwO2g9ODA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2022-03\/57a5f580-a3cd-11ec-b1fc-d323fa628773\" \/><\/a><a class=\"link caas-attr-provider-logo\" title=\"\" href=\"https:\/\/money.yahoo.com\/\" data-ylk=\"sec:logo-provider;elm:logo;slk:Yahoo Money;g:\" data-rapid_p=\"6\" data-v9y=\"1\"><img decoding=\"async\" class=\"caas-img\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/ZPNt8bYEuYFCMnZJ4L6D0w--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTIyNDtoPTQ4\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2021-03\/d9645480-7d32-11eb-9eef-9b703aa57102\" alt=\"Yahoo Money\" data-src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/ZPNt8bYEuYFCMnZJ4L6D0w--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTIyNDtoPTQ4\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2021-03\/d9645480-7d32-11eb-9eef-9b703aa57102\" \/><\/a><\/p>\n<div class=\"caas-attr-meta\">\n<div class=\"caas-attr-item-author\">\n<p><span class=\"caas-author-byline-collapse\" data-id=\"m-0\"><a class=\"link\" title=\"\" href=\"https:\/\/www.yahoo.com\/author\/kerry-hannon\" data-ylk=\"elm:author;slk:Kerry Hannon\" data-rapid_p=\"8\" data-v9y=\"1\">Kerry Hannon<\/a><\/span><\/p>\n<div class=\"caas-attr-item\"><span class=\"caas-attr-meta-separator\">\u00b7<\/span>Senior Columnist<\/div>\n<\/div>\n<\/div>\n<p><em>Kerry is a Senior Columnist and Senior Reporter at Yahoo Money. Follow her on Twitter<\/em><a class=\"link \" href=\"https:\/\/twitter.com\/KerryHannon\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:@kerryhannon\" data-rapid_p=\"19\" data-v9y=\"1\"><em>\u00a0@kerryhannon<\/em><\/a><\/p>\n<p><a class=\"link \" href=\"https:\/\/money.yahoo.com\/\" data-ylk=\"slk:Read the latest personal finance trends and news from Yahoo Money.\" data-rapid_p=\"20\" data-v9y=\"1\"><strong>Read the latest personal finance trends and news from Yahoo Money.<\/strong><\/a><\/p>\n<p><strong><em>Follow Yahoo Finance on<\/em><\/strong><a class=\"link \" href=\"https:\/\/twitter.com\/YahooFinance\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:Twitter\" data-rapid_p=\"21\" data-v9y=\"1\"><strong><em>\u00a0Twitter<\/em><\/strong><\/a><strong><em>,<\/em><\/strong><a class=\"link \" href=\"https:\/\/www.instagram.com\/yahoofinance\/?hl=en\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:Instagram\" data-rapid_p=\"22\" data-v9y=\"1\"><strong><em>\u00a0Instagram<\/em><\/strong><\/a><strong><em>,<\/em><\/strong><a class=\"link \" href=\"http:\/\/youtube.com\/c\/yahoofinance?sub_confirmation=1\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:YouTube\" data-rapid_p=\"23\" data-v9y=\"1\"><strong><em>\u00a0YouTube<\/em><\/strong><\/a><strong><em>,<\/em><\/strong><a class=\"link \" href=\"https:\/\/www.facebook.com\/yahoofinance\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:Facebook\" data-rapid_p=\"24\" data-v9y=\"1\"><strong><em>\u00a0Facebook<\/em><\/strong><\/a><strong><em>,<\/em><\/strong><a class=\"link \" href=\"https:\/\/flipboard.com\/topic\/yahoofinance\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:Flipboard\" data-rapid_p=\"25\" data-v9y=\"1\"><strong><em>\u00a0Flipboard<\/em><\/strong><\/a><strong><em>, and<\/em><\/strong><a class=\"link \" href=\"https:\/\/www.linkedin.com\/company\/yahoo-finance\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:LinkedI\" data-rapid_p=\"26\" data-v9y=\"1\"><strong><em>\u00a0LinkedI<\/em><\/strong><\/a><strong><em>n.<\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<aside class=\"caas-aside-section\">\n<div class=\"caas-non-sticky-sda\">\n<div id=\"sda-LREC\" class=\" LREC-status-ok\">\n<div id=\"sb_rel_sda-LREC-iframe\" class=\"darla\"><\/div>\n<\/div>\n<\/div>\n<div class=\"caas-sticky-sda-container wafer-sticky wafer-loader-success\" data-wf-sticky-boundary=\"caas-aside-section\" data-wf-sticky-offset=\"165px 10px\" data-wf-sticky-target=\".caas-sticky-sda\">\n<div class=\"caas-sticky-sda\">\n<div id=\"sda-LREC2\" class=\" LREC2-status-ok\">\n<div id=\"sb_rel_sda-LREC2-iframe\" class=\"darla\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"postArticle\" class=\"Pos(r) Mb($gridMargin) Mt(-20px) Pstart(106px) Pend(34%)\">\n<div id=\"module-editorialPicks\" class=\"wafer-rapid-module Mb(20px)\">\n<div id=\"wafer-trending-bar\" class=\"Bdrs(8px) Bdw(1px) Bdc(#e0e4e9) Bds(s) Pb(20px) Px(20px)\">\n<div class=\"header-wrapper D(f) Py(10px) Bdbw(1px) Bdc(#e0e4e9) Bdbs(s)\">\n<div class=\"D(ib) Td(n)\"><strong>Read more<\/strong><\/div>\n<\/div>\n<ul class=\"common simple-list Pstart(0) List(n) Mt(24px)\">\n<li class=\"common simple-list-item stream-item D(n):e Mih(74px) Mt(28px) Mt(0):fc js-stream-content\">\n<div class=\"item-hover-trigger Pos(r)\">\n<div class=\"item-img-wrapper Pos(r) Fl(end) Mstart(20px) Ov(h) Fxs(0) Bdrs(8px) Z(0)\"><\/div>\n<div class=\"simple-item-content\">\n<div class=\"provider-logo\"><\/div>\n<h4 class=\"Fz(20px) Lh(1.4) Fw(600) D(b) Pos(r) T(2px) My(0) W(100%) Trs(colorTransition) item-hover-trigger:h_C($titleHoverColor)\"><a class=\"Td(n) C($inherit) Td(n) C($inherit) D(f) js-content-viewer rapidnofollow\" href=\"https:\/\/money.yahoo.com\/social-security-increase-164839728.html\" data-uuid=\"2c6a0697-3b00-4583-8755-47ccb2c3be43\" data-ylk=\"elm:hdln;itc:0;pos:1;sec:readmore;subsec:readmore;cpos:1;ct:story;g:2c6a0697-3b00-4583-8755-47ccb2c3be43\" data-hosted-type=\"HOSTED\" data-wf-caas-prefetch=\"1\" data-wf-caas-uuid=\"2c6a0697-3b00-4583-8755-47ccb2c3be43\" data-rapid_p=\"1\" data-v9y=\"1\">Social Security on track for huge cost-of-living increase<\/a><\/h4>\n<div class=\"StretchedBox Z(1)\"><\/div>\n<\/div>\n<\/div>\n<div class=\"action-bar Mt(8px) Mend(8px) D(f) Fld(r) Fxw(w) Jc(sb) Ai(c) Mih(19px) Pos(r)\">\n<div class=\"Fz(12px) C($commentColor)\"><span class=\"provider-name D(ib) Va(m) Ell Maw(115px)\">Yahoo Money<\/span><span class=\"separator Px(4px)\">\u00b7<\/span><span class=\"mins-read D(ib) Va(m) Ell Maw(115px)\">6 min read<\/span><\/div>\n<div class=\"actions\"><\/div>\n<\/div>\n<\/li>\n<li class=\"common simple-list-item stream-item D(n):e Mih(74px) Mt(28px) Mt(0):fc js-stream-content\">\n<div class=\"item-hover-trigger Pos(r)\">\n<div class=\"item-img-wrapper Pos(r) Fl(end) Mstart(20px) Ov(h) Fxs(0) Bdrs(8px) Z(0)\"><\/div>\n<div class=\"simple-item-content\">\n<div class=\"provider-logo\"><\/div>\n<h4 class=\"Fz(20px) Lh(1.4) Fw(600) D(b) Pos(r) T(2px) My(0) W(100%) Trs(colorTransition) item-hover-trigger:h_C($titleHoverColor)\"><a class=\"Td(n) C($inherit) Td(n) C($inherit) D(f) js-content-viewer rapidnofollow\" href=\"https:\/\/money.yahoo.com\/work-longer-social-security-161314671.html\" data-uuid=\"51ba54dd-1db1-40e3-b0f4-902647ec5e4e\" data-ylk=\"elm:hdln;itc:0;pos:1;sec:readmore;subsec:readmore;cpos:2;ct:story;g:51ba54dd-1db1-40e3-b0f4-902647ec5e4e\" data-hosted-type=\"HOSTED\" data-wf-caas-prefetch=\"1\" data-wf-caas-uuid=\"51ba54dd-1db1-40e3-b0f4-902647ec5e4e\" data-rapid_p=\"2\" data-v9y=\"1\">Workers willing to work longer to save Social Security<\/a><\/h4>\n<div class=\"StretchedBox Z(1)\"><\/div>\n<\/div>\n<\/div>\n<div class=\"action-bar Mt(8px) Mend(8px) D(f) Fld(r) Fxw(w) Jc(sb) Ai(c) Mih(19px) Pos(r)\">\n<div class=\"Fz(12px) C($commentColor)\"><span class=\"provider-name D(ib) Va(m) Ell Maw(115px)\">Yahoo Money<\/span><span class=\"separator Px(4px)\">\u00b7<\/span><span class=\"mins-read D(ib) Va(m) Ell Maw(115px)\">4 min read<\/span><\/div>\n<div class=\"actions\"><\/div>\n<\/div>\n<\/li>\n<li class=\"common simple-list-item stream-item D(n):e Mih(74px) Mt(28px) Mt(0):fc js-stream-content\">\n<div class=\"item-hover-trigger Pos(r)\">\n<div class=\"item-img-wrapper Pos(r) Fl(end) Mstart(20px) Ov(h) Fxs(0) Bdrs(8px) Z(0)\"><\/div>\n<div class=\"simple-item-content\">\n<div class=\"provider-logo\"><\/div>\n<h4 class=\"Fz(20px) Lh(1.4) Fw(600) D(b) Pos(r) T(2px) My(0) W(100%) Trs(colorTransition) item-hover-trigger:h_C($titleHoverColor)\"><a class=\"Td(n) C($inherit) Td(n) C($inherit) D(f) js-content-viewer rapidnofollow\" href=\"https:\/\/money.yahoo.com\/book-women-do-more-non-promotable-work-that-holds-them-back-190017139-192312448.html\" data-uuid=\"ce36e6a8-7fbc-4032-ba46-a06098eaa6dc\" data-ylk=\"elm:hdln;itc:0;pos:1;sec:readmore;subsec:readmore;cpos:3;ct:story;g:ce36e6a8-7fbc-4032-ba46-a06098eaa6dc\" data-hosted-type=\"HOSTED\" data-wf-caas-prefetch=\"1\" data-wf-caas-uuid=\"ce36e6a8-7fbc-4032-ba46-a06098eaa6dc\" data-rapid_p=\"3\" data-v9y=\"1\">Book: Women do more \u2018non-promotable work\u2019 that holds them back<\/a><\/h4>\n<div class=\"StretchedBox Z(1)\"><\/div>\n<\/div>\n<\/div>\n<div class=\"action-bar Mt(8px) Mend(8px) D(f) Fld(r) Fxw(w) Jc(sb) Ai(c) Mih(19px) Pos(r)\">\n<div class=\"Fz(12px) C($commentColor)\"><span class=\"provider-name D(ib) Va(m) Ell Maw(115px)\">Yahoo Money<\/span><span class=\"separator Px(4px)\">\u00b7<\/span><span class=\"mins-read D(ib) Va(m) Ell Maw(115px)\">11 min read<\/span><\/div>\n<\/div>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"padding-bottom:20px; padding-top:10px;\" class=\"hupso-share-buttons\"><!-- Hupso Share Buttons - http:\/\/www.hupso.com\/share\/ --><a class=\"hupso_toolbar\" href=\"http:\/\/www.hupso.com\/share\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/static.hupso.com\/share\/buttons\/share-small.png?w=640&#038;ssl=1\" style=\"border:0px; padding-top:5px; float:left;\" alt=\"Share Button\"\/><\/a><script type=\"text\/javascript\">var hupso_services_t=new Array(\"Twitter\",\"Facebook\",\"Google Plus\",\"Pinterest\",\"Linkedin\",\"StumbleUpon\",\"Digg\",\"Reddit\",\"Bebo\",\"Delicious\");var hupso_background_t=\"#EAF4FF\";var hupso_border_t=\"#66CCFF\";var hupso_toolbar_size_t=\"small\";var hupso_image_folder_url = \"\";var hupso_url_t=\"\";var hupso_title_t=\"Millennials may get hit with a loss of up to $675,000 in Social Security benefits\";<\/script><script type=\"text\/javascript\" src=\"https:\/\/static.hupso.com\/share\/js\/share_toolbar.js\"><\/script><!-- Hupso Share Buttons --><\/div>","protected":false},"excerpt":{"rendered":"<p>Unless there are reforms to the Social Security program before the surplus is depleted in 2034, millennials should expect roughly a 20% reduction in Social Security benefits when it\u2019s time to turn on their monthly checks, according to a new\u00a0report.<\/p>\n<div style=\"padding-bottom:20px; padding-top:10px;\" class=\"hupso-share-buttons\"><!-- Hupso Share Buttons - http:\/\/www.hupso.com\/share\/ --><a class=\"hupso_toolbar\" href=\"http:\/\/www.hupso.com\/share\/\"><img src=\"https:\/\/static.hupso.com\/share\/buttons\/share-small.png\" style=\"border:0px; padding-top:5px; float:left;\" alt=\"Share Button\"\/><\/a><script type=\"text\/javascript\">var hupso_services_t=new Array(\"Twitter\",\"Facebook\",\"Google Plus\",\"Pinterest\",\"Linkedin\",\"StumbleUpon\",\"Digg\",\"Reddit\",\"Bebo\",\"Delicious\");var hupso_background_t=\"#EAF4FF\";var hupso_border_t=\"#66CCFF\";var hupso_toolbar_size_t=\"small\";var hupso_image_folder_url = \"\";var hupso_url_t=\"\";var hupso_title_t=\"Millennials may get hit with a loss of up to $675,000 in Social Security benefits\";<\/script><script type=\"text\/javascript\" src=\"https:\/\/static.hupso.com\/share\/js\/share_toolbar.js\"><\/script><!-- Hupso Share Buttons --><\/div>","protected":false},"author":2,"featured_media":9075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[29,101,9,597],"tags":[333,349],"class_list":["post-9521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finances","category-personal-finance-2","category-retirement","category-yahoo","tag-retirement","tag-social-security"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/kerryhannon.com\/wp-content\/uploads\/2022\/01\/download.jpeg?fit=296%2C171&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p3YFQS-2tz","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/posts\/9521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9521"}],"version-history":[{"count":2,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/posts\/9521\/revisions"}],"predecessor-version":[{"id":9523,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/posts\/9521\/revisions\/9523"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/media\/9075"}],"wp:attachment":[{"href":"https:\/\/kerryhannon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}