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A monthly paycheck, distributed by the government, (mostly) for retirees.

The idea behind the Great Depression-era social insurance program is that you pay in while working to collect when you stop working. For most people, that’s retirement, but money paid to the Social Security Administration (SSA) also covers disabled workers and spouses/children of deceased workers. Hence the two SSA trust funds: Old-Age and Survivor Insurance and Disability Insurance (OASI and DI).

Where does the money come from?
Your paycheck and your employer.

If you work in the U.S., 6.2% of your paycheck is automatically set aside for Social Security (it might read as “FICA” on your stub), and your employer chips in another 6.2%... up to a certain point. There’s a $184,500 wage cap, so earnings over that aren’t taxed for SS for the rest of the year.

Where does it go?
To currently retired folks.

The SSA doesn’t drop your money into a piggy bank just waiting for you to retire. Today’s workers fund today’s retirees. By law, leftover change goes into a surplus fund called the Social Security Trust, where it’s invested in Treasury securities. Uncle Sam can use the cash on hand for other bills in the meantime (he’s been paying it back with interest since 2021).

How much do people get?
Depends.

Payouts vary based on how much you earn over your career and retirement age. The earliest you can claim retirement benefits is 62, though you won’t get the full amount unless you wait until 67. If you wait longer (up to 70), you can earn more. On average, though, a retired worker earns $2,084/month (calculate your benefits here).

Is Social Security going broke?
A lot of people are wondering about that.

From the 1980s to 2020, SS pulled in more money than it paid out, banking on the surplus for the day when retirees outnumbered paying workers… That time is now. 

Barring legislation changes, the fund that specifically pays retirement benefits (OASI) is projected to run dry by the fourth quarter of 2032, with 78% of scheduled benefits payable at that time. Among Congress’s options: raise SS tax, trim benefits, raise or remove the wage cap, or increase the age at which someone qualifies.

(We know there were a lotttt of numbers thrown at you just now. Click through our interactive explainer to help ‘em make more sense!)

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ETERNAL PERSPECTIVE
Because our hope is built on God’s promises—not Social Security benefits—we can be content and even joyful in the face of dwindling funds. In Christ, we are fabulously wealthy. The saints have become rich through the poverty of Jesus, guaranteed a “glorious inheritance” that can’t slip suddenly away when finances take a turn.

“I pray that the God of our Lord Jesus Christ, the glorious Father, would give you the Spirit of wisdom and revelation in the knowledge of him. I pray that the eyes of your heart may be enlightened so that you may know what is the hope of his calling, what is the wealth of his glorious inheritance in the saints, and what is the immeasurable greatness of his power toward us who believe, according to the mighty working of his strength.” 
Ephesians 1:17-19 (CSB) (read full passage)

“A man really believes not what he recites in his creed but only the things he is willing to die for.”

Pastor Richard Wurmbrand wrote those words after living them. He spent 14 years in a Communist Romanian prison facing solitary confinement, torture, and starvation because he refused to stop preaching about Christ. 

What he came out with wasn’t bitterness but forgiveness, even toward the men who tortured him. Tortured for Christ is his bestselling account of unbreakable faith during unimaginable suffering, a story that’s inspired believers for decades. 

The Voice of the Martyrs wants to send you a free copy as a gift. Request yours today and discover courage that has shaped generations of Christians!

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Solving this week’s Mini Crossword featuring a bad dad joke.

Some satisfying physics for your morning...

Our graphic showing how other countries’ social security programs compare.

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Top News Resource: Our graphic explaining what happened in Nepal’s devastating flash flood.

Top Christian Perspective: A reminder that amidst chaotic headlines, we’ve been blessed with peace. Download and save it here.

Top Whipped Cream: Who knew a Valais Blacknose sheep could bring this much joy…

Where We’re Kicking Menopause
In the rear, thanks to Alloy*

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A Prayer for Humility

Humble Savior, my mind is prone to dwell on my own interests—my needs, my comforts, my feelings, my hurts. As I read today’s headlines, open my eyes to the needs, comforts, feelings, and hurts of others, and grow my compassion for the neighbors right in front of me who are weighed down by their cares. 

May I be slow to anger and ever curious, seeking to understand rather than be understood. Make me more like You, Jesus, humbly serving rather than seeking to be served. Help me die to myself as You died for me, trusting You to remake me for Your glory. Amen.

This prayer is an excerpt from TPO’s new book, Praying the News: Liturgies for Reading the Headlines, coming out in February! Peek inside and reserve your copy here.

Each week, we do the deep shallow dive so that you don’t have to. We bring what we learn not only to this email, but we sit down and talk about it, too. Check out this week’s episode of TPO Explains... just click on the episode below.

(You’ll still get our M/W/F news)