Social Security Is Running Out - Here's How Much You Can Expect To Lose In Benefits
Disruptive Money Management
English - September 20, 2021 11:00 - 20 minutes - 14.4 MBInvesting Business Education Self-Improvement investing financial planning insurance financial financial wellness retirement stocks mutual funds money Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
Since 1935, Social Security has been the cornerstone of retirement income for many Americans. In fact, 40% of current retirees rely completely on Social Security for income. So what happens when the Social Security Trust Fund starts to run out of money? With over 65 million Americans drawing on this benefit monthly and longevity on the rise, it was inevitable that the system would start to collapse. Well, the numbers have been released and it is not looking pretty.
Join Henry as he goes over the Social Security system and how it operates. He'll be sharing with you the year in which Social Security becomes depleted and the projected reduction in benefits for retirees. Be sure to stick around to the end where he shares his best practices for assessing how much of an impact it would be to your retirement lifestyle. He'll also help you calculate what you need to adjust in terms of withdrawals to adjust for the decrease in benefit.
For the show notes or more information, please visit www.juncture401k.com.