While Social Security has been a part of life for most Americans for 60 years, it has been modified many times to meet the changing economic needs of the public. It will undoubtedly have to change again to meet the needs of people in the 21st century. Today, Social Security is taking in more than enough money to pay benefits and continues to save money in trust funds. While there is no immediate crisis, demographic and economic changes, such as longer life expectancies and the impending retirement of the baby boomers, will undoubtedly lead to new financing challenges that will have to be addressed.