I Used to Be Worried About Social Security Cuts. Here's Why I've Changed My Tune.
When I first started writing about Social Security about 10 years ago, I kept reading about the potential for benefit cuts. And back then, that scared me.
I've always known that workers should not aim to retire on Social Security alone. In a best-case scenario, the program will replace about 40% of your pre-retirement paycheck if you're an average wage-earner, and most seniors need a lot more replacement income than that to maintain a comfortable lifestyle.
Still, I always figured I'd be reliant on Social Security to some degree, and that benefit cuts had the potential to upend my retirement. Thankfully, I learned about the possibility of those cuts at a time when I had the opportunity to make changes to my retirement planning. And because of those changes, I'm no longer as worried about Social Security cuts as I once was.
Source Fool.com
