Social Security Cuts Could Be Coming, But Don't Let That Drive You Toward This Mistake
Recently, after a multi-month delay, the Social Security Trustees released an update on the state of the program's finances. The news wasn't wonderful.
Social Security, in the coming years, is expected to owe more money in benefits than it collects in revenue. It can keep up with scheduled benefits by tapping its trust funds. But once those funds are depleted, benefit cuts may be inevitable.
Right now, it's looking like those cuts could amount to 22% of scheduled benefits. That's a large chunk of money for seniors to lose.
Source Fool.com