Social security was created at a time when an alarming number of people were facing hard economic times, many after working for decades and having little to show for it. Over time it has been broadened to extend monthly income to children under eighteen if a parent dies, and to support workers and their families if they suffer a long-term disability. Social security payments are determined by a formula, so they are predictable and tied to cost-of-living increases. People who are in lower paying jobs are more likely to depend exclusively on social security for retirement because they may have no access to company retirement plans. Women are more likely to move in and out of the workplace with family care obligations, so they also may find they have only social security for income in later years.

The current state of social security can be viewed either optimistically or pessimistically. It is forecast that beneficiaries can expect to receive payments until the year 2040. The government is currently trying to find a solution that will allow social security to keep providing aid beyond 2040.