If you're worried that Social Security is soon going to stop paying benefits to retirees, rest assured -- that's not a concern. While it's true that the program is facing a financial shortfall in the coming years, that shortfall isn't so extreme to cause benefits to disappear completely.

Rather, what's likely to happen is that once Social Security's trust funds run out, which is expected to occur in about a decade from now, benefits will be cut by roughly 20%. That's not a great situation, but it's far better than not getting any benefits at all.

However, if you're someone who gets most of your retirement income from Social Security, then a 20% cut in benefits could be downright catastrophic to your personal finances. So it's important to start planning for that possibility now.

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Source Fool.com