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August 23, 2023 at 11:59 AM
Americans’ attitudes toward Social Security have shifted significantly over the past decade, according to the Nationwide Retirement Institute’s 10th annual Social Security survey.
Americans continue to view the program as an essential part of the nation’s retirement income ecosystem, the survey shows, but they also increasingly worry about the program’s future.
As the survey shows, a majority believe that the Social Security system needs to change, but fewer believe the government will “do the right thing” to ensure all workers will be able to have financial security in retirement.
In addition to the general sentiment data, among this year’s findings are a handful of key data points that show how the support of financial advisors can influence individuals’ views of the Social Security program and related issues pertaining to retirement income.
The findings show that a minority of pre-retirees have worked with a financial professional to map out a Social Security claiming strategy, underscoring the opportunity for advisors to provide added value to their clients in this area.
See the slideshow for a list of 10 telling facts about Americans’ perceptions about Social Security and the role of financial advisors in helping their clients make the most of the key federal retirement income insurance benefit.
Some seem like good news while others are more concerning, but all help to illuminate Americans’ complex and shifting views about Social Security.
Slideshow
