How Important Is Social Security To Young Adults?

Posted on November 29, 2017 • Category: Young Talent


A new Gallup study looks at changes taking place regarding the importance of Social Security to different age groups. Despite predictions that the Social Security trust fund will run out by the mid-2030s, increasing numbers of younger and older working adults continue to see Social Security as important to their future.

  • Many younger working adults don’t see an option to Social Security given the shrinking retirement benefits available from employers.
  • Older working adults often believe the Social Security trust fund will stretch beyond their retirement years.

A complicating factor is that 32% of U.S. investors say they provide financial assistance to an adult family member – a grown child, parent or both. Sixty-one percent of those who provide help say it hinders their own retirement savings.

Social Security as Major Source of Retirement Income


Quick Facts About Arizonans Receiving Social Security

  • 85% of Arizonans age 65+ receive Social Security.
  • Social Security is the only source of income for 32% of Arizonans age 65+. It makes up 50% or more of the income for 61% of older Arizonans.
  • One in six Arizonans receive Social Security.

AARP, Social Security: 2014 Arizona Quick Facts

Arizona Social Security Beneficiaries




The percentage of Americans age 18-29 today who expect to rely on Social Security, nearly twice the number in this age group who said so in 2007.
Young, Old in U.S. Plan on Relying More on Social Security  

Gallup Analytics, May 25, 2017

1 in 6

Arizonans who receive Social Security benefits.
Social Security: 2014 Arizona Quick Facts  



U.S. investors who provide financial assistance to an adult family member.
A Third of Investors Help Parent or Grown Child Financially  

Gallup Analytics, May 31, 2017

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Lattie F. Coor

My Perspective

When CFA set out to build a citizens' agenda for Arizona, we didn't know it would end up placing Arizona at the center of a national struggle to address the challenges confronting democracy today–the growing lack of confidence that citizens have in government and their growing lack of participation in the civic life of our communities and nation.

In many ways, Arizona is a microcosm of these challenges. This fact was made clear in the results of the Gallup Arizona Poll (2009), which identified the deep concerns that Arizonans have about the need for both effective leaders and engaged citizens. CFA is now in the process of building Arizona Progress Meters for each of the 8 citizen goals defined by the people who live here. The culmination of these goals is The Arizona We Want.

The Arizona We Want is a long-term vision and it can be achieved if we work together.

Learn More about how CFA is activating the citizens' agenda for Arizona.

Citizen goals sit at the heart of all we do.

Center for the Future of Arizona
541 East Van Buren, B-5
Phoenix, Arizona 85004-2211
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