Retirees Could Lose 17% of Their Social Security Benefits in 11 Years. Here's Why
Social Security is a lifeline for millions of older adults, often making the difference between a comfortable retirement and struggling to make ends meet.
In fact, a whopping 88% of baby boomers expect to rely on Social Security in retirement, according to a 2023 report from the Transamerica Center for Retirement Studies, with over 40% of boomers saying their benefits will be their primary source of income.
The program is on shaky ground right now, however, and there's a chance that Social Security may not be as reliable in the coming decades. According to the most recent research, your benefits could be slashed by around 17% in just 11 years. Here's what you need to know.
Source Fool.com
