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The 2024 presidential election will he here before you know it, and many are curious about the potential policies of the incoming president. For older Americans, some of the focus has been on Social Security and its fate.

You might think you’ve got a handle on your finances, but there’s probably a thing or two you don’t understand.  GOBankingRates spoke with financial experts to uncover some surprising truths about money that many people overlook. Carlos Rodriguez, director of financial planning at Edelman Financial Engines, pointed to EFE’s 2023 Everyday Wealth in America report, which indicated that 46% of Americans cite personal finances as their top source of stress. That emphasizes the importance of effective financial management for overall well-being.

Knowing all about money isn’t just for the wealthy – it’s for all of us. But that doesn’t mean the rest of us can’t learn from the rich. The financial principles that keep the rich rich are accessible to all of us.  

More than 70 million Americans receive monthly Social Security checks. Over 180 million current workers are paying into the system and expect benefits down the line. But the program is running out of money.