Can You Handle Your Social Security Benefit Being Cut by $6,090 Per Year? This Prediction Is Just 9 Years Away From Becoming Reality.
No program has proven more vital to the financial well-being of our aging labor force than Social Security. An analysis from the Center on Budget and Policy Priorities found that 22.7 million people, including 16.5 million adults aged 65 and older, were lifted above the poverty line by their Social Security payout in 2022.
Further, more than two decades of annual surveys from Gallup have shown that up to 90% of retirees lean on their monthly payout to cover some portion of their expenses. In other words, Social Security is a program that most retired workers and aging Americans would struggle to live without.
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Source Fool.com
