Could a Recession Impact My Social Security Checks?
Nobody likes hearing the word "recession." It's an economic event that comes with a lot of uncertainty, financial challenges, and overall stress for many people.Recessions negatively impact all types of people, but they can be especially difficult on retirees or those approaching retirement because many rely on fixed income, have less time to recover from investment losses, and could face rising costs for essential services like healthcare.Luckily, while a recession certainly affects the broader economy, Social Security benefits are stable for the most part. However, that doesn't mean a recession has zero effect on the program and its future.Continue reading
Nobody likes hearing the word "recession." It's an economic event that comes with a lot of uncertainty, financial challenges, and overall stress for many people.
Recessions negatively impact all types of people, but they can be especially difficult on retirees or those approaching retirement because many rely on fixed income, have less time to recover from investment losses, and could face rising costs for essential services like healthcare.
Luckily, while a recession certainly affects the broader economy, Social Security benefits are stable for the most part. However, that doesn't mean a recession has zero effect on the program and its future.
