A new Bankrate survey finds that many of today’s workers expect to rely on Social Security benefits, but most are concerned that they will not receive monthly checks upon retirement.
According to the study, 53 percent of Americans who have not retired anticipate depending on these retirement benefits to pay for their living expenses once they leave the workforce.
Despite expectations of relying on these promised benefits, “the financial outlook for this popular program is cloudy,” says Mark Hamrick, senior economic analyst at Bankrate.
Nearly three-quarters (73 percent) of U.S. workers worry that the federal government will not mail monthly checks once they reach their winter years….