Without a fix, Social Security Disability Insurance will face cuts. You may not care now, but the odds are good that someday the program will be important to you.
Today’s Social Security report says by the time leading-edge boomers are 88, the program will be able to pay only 75 percent of benefits.
Today’s retirement planning crisis is over Social Security Disability Insurance, or SSDI, which the Congressional Budget Office announced is about to go belly up because so many people have turned to it in these economic hard times. The report says the average monthly payment for SSDI is $927. It’s paid for out of Social Security payroll
More people than ever are applying for Social Security Disability Insurance, or SSDI. According to Social Security’s own statistics, the average number of applications per month has risen from 200,000 prior to 2008 to more than 300,000 per month since. Getting SSDI can take years from the time of initial application and the average monthly