More adults are worried about Social Security benefits, survey finds [Video]

(InvestigateTV) — A new Bankrate survey found that 73% of Americans are skeptical that Social Security will have sufficient funding to deliver promised benefits by the time they retire.

Bankrate Senior Economic Analyst Mark Hamrick said Social Security is running out of money, and the program’s trustees predict the trust funds will be depleted by 2035. This could lead to mandatory decreases in benefits unless Congress takes action.

But Hamrick said no matter what happens with the politicians in Washington, it’s never too late to start trying to save for retirement in personal accounts.

“I think we need to do what we can as individuals need to take full advantage, for example maximum allowable contributions to employer sponsored programs like a 401(k) 403(b) to participate in individual retirement accounts,” he said. “Broadly speaking, it’s just best practices to prioritize saving money.”

Hamrick said even when it comes to creating an emergency savings account, people teaching themselves how to …