Reported 5 months ago
In about 11 years, Social Security benefits could potentially face significant cuts due to revenue challenges. While the program's trust funds may temporarily cover the shortfall, benefit reductions may become necessary once those funds are depleted, projected for 2035. The average monthly benefit could decrease by around $400 by 2035, necessitating individuals to plan for supplementing their retirement income through savings and investments to mitigate the impact of potential benefit cuts.
Source: YAHOO