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Factors that could shrink your Social Security check

According to the Social Security trustees, the program’s trust fund is scheduled to run out of money; if nothing else is done, they say, after 2034 Social Security’s annual income will only be enough to pay “about three-quarters of schedule benefits.” At most one quarter of people currently nearing retirement are going to able to shrug off any cuts at all in Social Security according to the Fed data. However, everyone else will be in serious trouble due to little or nothing in private retirement plans. Click here to read what the other three factors contributing to a shrinking Social Security check.

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