11. Social Security
Just as Mark Twain said the rumors of his death were greatly exaggerated, so it appears that the rumors of the demise of Social Security are also somewhat exaggerated. True, the system needs some drastic fine-tuning, but future retirees can rest assured that they will receive benefits when the time comes, and present retirees can sleep well knowing that they will continue to receive benefits. The voting power of baby boomers and older Americans will help ensure that Congress does the necessary reforms to keep the system going.
History
The Social Security Act was passed into law in 1935, and the first regular monthly payments began in 1940. The first monthly retirement check went to Ida May Fuller, a former legal secretary ...
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