The Social Security Board of Trustees released its annual report. In this report, the Board projects that the reserves in the ‘Old-Age and Survivors Insurance and Disability Insurance Trust Funds (commonly called Social Security) will be depleted by 2034 if steps are not taken to strengthen the Social Security Program. The report also predicts that only 79% of the benefits would be paid out once the funds are depleted.
Are you properly planning for your retirement?
Check out some of these articles:
3 Things You Can Do to Prepare for Retirement Now – Includes a retirement checklist and the Social Security Administrations Retirement Estimator