Whether you want to think about it or not there is a reckoning coming for retirees in the not too distant future. The Social Security and Medicare systems will not be able fund all of their obligations in the future. As to when this will happen depends on who you listen to, but it is going to happen!

As initially laid out the Social Securrity system was to be a safety net. Today however, it has become a sole source of income for many retirees. For Baby Boomers approaching retirement, this is a special concern since the SSI and Medicare programs could end up being very different from what they are today. If you are expecting Uncle Sam to keep you financially sound in your golden years, you might want to rethink your strategy.