What Will Social Security Look Like for Millennials?

Social Security is this country's most important social program, although that's arguable given the importance of Medicare. Each and every month, at least as of February 2018 based on data from the Social Security Administration, over 62.1 million people receive a benefit. Most of these folks -- 42.71 million people to be precise -- are retired workers, of which 62% lean on the program to generate at least half of their monthly income.

Without this guaranteed monthly payout for eligible retired workers, the elderly poverty rate could be much higher than it is now.