Social Security and retirement. They just go hand-in-hand. For many retirees, it’s all they have. Even for those investors who have saved plenty throughout their working lives, Social Security often factors into the underlying equation. Given its importance, any sort of bad news concerning the safety net should be taking seriously. And we’ve all heard the tales of bad news over the last decade or so.
But the latest one is a real horror story.
Social Security is running out of money sooner than many pundits and policymakers expect. That fact has plenty of ripple effects for retirees today and into the future. It’s a serious problem that is perhaps unavoidable. However, we individually can turn back the tide and hedge the effects on our own retirements.
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