Preparing for Social Security Cuts–Some Steps You Can Factor into Your Strategy for Retirement
Yes, it’s still a decade away, but the possibility of substantial benefit cuts is very real, regardless of the actions–or inactions–of Congress. In fact, it’s clear to almost everybody who’s kept themselves at least partially up-to-date on the Social Security trajectory toward insolvency that a decade from now the program will be different. So, without a crystal ball to show you what the future will look like with respect to how Social Security benefits fit into your retirement financial planning, what do you do? MoneyTalksNews contributor Chris Kissell, in a post on their website, has some thoughts on actions those with foresight are taking to shore up their financial position in advance, from extending their presence in the workplace beyond traditional norms to planning passive income strategies. He also comments on a final option…doing nothing. Check his post out here.