Social Security and Its Impact on Retirees' Income and Solvency
Monday, 7 October 2024, 08:55
Social Security plays a pivotal role in securing income for retirees, but solvency issues threaten its future. For a mass affluent couple aiming for retirement in 25 years, the projected reduction in lifetime benefits could reach almost $287,000. In contrast, an average-income couple with a decade before retirement might face losses nearing $100,000. The inherent risks shape the viability and sustainability of Social Security. This article delves into the potential solutions and their implications on retirees’ income.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.