Social Security needs more money.
The latest government agency report shows that the combined trust funds used to pay Social Security, survivors and disability benefits can only be paid out as planned until 2033.
After that, the program can pay 78% of benefits as planned.
Major solutions to the deficit will most likely have to come from raising taxes or cutting benefits.
Watch this video for a case study based on a solution that saves retirees.
TO ENROL: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox.
Disclosure: NBCUniversal and Comcast Ventures are investors in acorns.