Could This Potential Social Security Change Force You to Work Longer?
If you're looking forward to collecting Social Security in retirement, there's some potentially bad news you need to be aware of. Social Security is currently at risk of having to cut benefits because of an impending financial shortfall.The problem is that Social Security relies primarily on payroll taxes to meet its financial obligations. But in the coming years, that revenue source is expected to shrink as baby boomers wrap up their careers and exit the labor force in masses.Image source: Getty Images.Continue reading
If you're looking forward to collecting Social Security in retirement, there's some potentially bad news you need to be aware of. Social Security is currently at risk of having to cut benefits because of an impending financial shortfall.
The problem is that Social Security relies primarily on payroll taxes to meet its financial obligations. But in the coming years, that revenue source is expected to shrink as baby boomers wrap up their careers and exit the labor force in masses.
Image source: Getty Images.
