Here's What I'm Doing to Plan for Social Security Cuts. My Strategy Could Save Your Retirement, Too.
If you've been reading up on Social Security, you've probably heard that the program's latest Trustees Report wasn't too encouraging. That report confirmed that Social Security is looking at a financial shortfall as older workers exit the workforce in droves, stripping the program of much-needed payroll tax revenue.
Social Security has trust funds it can use to keep up with scheduled benefits for a period of time. But once those trust funds run dry, benefit cuts will be on the table.
The timing of that isn't so far off. Using the depletion date of the program's combined trust funds, the latest Trustee estimate has benefit cuts happening as early as 2035.
Source Fool.com
