Social Security Benefit Cuts May Be Coming Soon. Here's How to Plan for Them.
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Social Security has faced the possibility of benefit cuts in the past, but to date, they've never happened. However, just because lawmakers have managed to prevent Social Security cuts in the past doesn't mean they're guaranteed to save the program from that fate, given its current financial crisis.Image source: Getty Images.In the coming years, Social Security expects to owe more in scheduled benefits than it collects in payroll tax revenue as baby boomers stage a massive exodus from the workforce. Thankfully, Social Security has trust funds to tap to make up that shortfall -- at least for the time being.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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