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Home Market Research Markets

Here’s How Much a 23% Social Security Cut Would Cost the Average Retiree

by TheAdviserMagazine
5 months ago
in Markets
Reading Time: 1 min read
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Here’s How Much a 23% Social Security Cut Would Cost the Average Retiree
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More than 68 million Americans receive Social Security benefits, but their monthly payments could soon diminish. The latest annual report from the Social Security trustees projects that the Old-Age and Survivors Insurance Trust Fund — which funds retirement benefits — will deplete its reserves by 2033. At that point, Social Security payroll taxes that workers pay would continue to go into the…



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