How much can the loss cost you?

How much can the loss cost you?

The Social Security Administration needs more money.

The latest report from the government agency suggests that mutual funds used to pay Social Security retirement, survivor and disability benefits will only be able to make scheduled payments until 2033.

After that, the program will be able to pay 78% of the benefits as expected.

The main solutions to filling the shortfall will most likely come from an increase in taxes or a reduction in benefits.

Watch this video for a case study based on a solution that will leave retirees with less money.

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The post How much can the loss cost you? first appeared on Newsallnewsflash.

The post How much can the loss cost you? first appeared on Newsallnewsflash.

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