Reported about 16 hours ago
Social Security is in financial distress, issuing $67 billion more in benefits than it collects in revenue, with the trust funds projected to last only until 2034. Due to the aging population and increased beneficiaries, this shortfall is expected to worsen, potentially leading to cuts in retirement benefits by 24% by 2032. As government intervention is required to address this issue, individuals are encouraged to develop personal retirement savings strategies to prepare for a future with reduced Social Security support.
Source: YAHOO