Don’t Get Caught Off Guard By Upcoming Social Security Benefit Cuts - AMAC & The Motley Fool
Are cuts really coming? Yes, they are, but Congress could act before 23% across the board cuts hit all beneficiaries in 2033. Still, people can prepare for Social Security’s looming insolvency which has been predicted and written about for more than a decade. Maurie Backman’s advice here is to save more now in IRAs and 401k plans. Her key point is retired workers cannot go back and do the same. Full article here.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.