What Year Will Medicare Run Out?
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasGreat question! I just listened to a lecture the other day given by an economics Professor Michael Granof at the University of Texas (Americans living rich retiring poor ) who stated that without a change in funding, Medicare goes under in 2023. Social security goes belly up about 10 years later. The Generation x folks and the tail end baby boomers will be the first generation to pay into Social Security more than they will take out. I cannot emphasize enough the importance of saving early, having long term care and life insurances, and having a good financial plan. If you have questions about your retirement plan, please feel free to contact me, I'm happy to help. Thanks for asking!Answered on April 23, 2014flag this answer
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