Worried About the Future of Social Security? 3 Things You Can Do About It
Social Security's Old Age and Survivors Insurance Trust Fund is expected to run out of money in 2034. Unless Congress can agree on reforms to the program that solve its funding imbalance before that happens, retirees could see their benefits reduced by 20% in 2035.
Such a big cut in benefits would cause a serious financial hardship for many seniors. If you're worried about the future of the program, you'll want to take matters into your own hands. Here are three things you can do to improve your chances of enjoying a comfortable retirement regardless of what happens to the government's old age benefit.
While you should always strive to save as much as you reasonably can for retirement, if you're worried about the future of Social Security, you should be looking for ways to save even more.
Source Fool.com
