I'm not one of the doomsayers who believes in the imminent or eventual collapse of Social Security. Nor is this story from Wallet Pop intended to panic anyone.
There IS money to cover the deficit, and no eligible retiree will go unserved or unpaid. Not for the first time, Social Security's income will be exceeded by its outgo--a rerun from the '80's. As happened then, the current shortage will be covered within a year or two.
But in the meantime, the Social Security Administration is doublely hammered--job losses equal less money from FICA while increased early retirements mean more demand for their funds.
What saddens me the most are the human stories behind the surge of early retirements.
It's one thing to retire by choice.
Another to have to retire due to disability or the need to care for a loved one.
By far the worst is to be capable mentally and physically of working, to WANT to work, and yet to have nothing available.
I suppose that folks 62 and over are lucky to have the choice to retire, given the large numbers of youthful and middle-aged jobseekers out there. But I doubt it feels very lucky to those taking their retirement years before they needed to, wanted to or ever intended to do so.