Social Security Cuts May Be Coming. Here's What I'm Doing to Make Sure They Don't Mess Up My Retirement
I have a plan to avoid long-term financial stress.
Overview
The Social Security Trustees Report that comes out every year isn't the sort of thing the typical American reads. But because I write about Social Security on an almost daily basis, I tend to read it thoroughly.
In a nutshell, what you really need to know is that Social Security faces the possibility of a broad 22% benefit cut in the coming years. The reason is that the program's primary revenue stream, payroll taxes, is expected to keep declining due to a shrinking workforce.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.