Is Social Security Going Bankrupt? 3 Reasons Not to Worry
Millions of older adults rely on Social Security during retirement, and benefit cuts could make it more difficult to make ends meet.
The Social Security Administration (SSA) recently released its latest report on the status of its trust funds. According to current estimates, the trust funds are expected to be depleted by 2034, at which point benefits could be cut by up to 22%.
That's startling news for anyone who is currently retired or will be retired by 2034, especially if Social Security benefits will make up a sizable portion of your retirement income. However, there are a few reasons not to worry about the fate of Social Security.
Source Fool.com
