Social Security Cuts Don't Have to Wreck Your Retirement. Here's How to Save $1 Million So You're Less Reliant on Benefits
There are a lot of rumors flying around about Social Security's finances -- and not all of them are true.The idea that the program is going broke, for example, is a big misconception. Social Security can't go broke, due to the fact that it's funded by payroll taxes. So as long as there's an active labor network, Social Security gets to receive revenue.Image source: Getty Images.Continue reading
There are a lot of rumors flying around about Social Security's finances -- and not all of them are true.
The idea that the program is going broke, for example, is a big misconception. Social Security can't go broke, due to the fact that it's funded by payroll taxes. So as long as there's an active labor network, Social Security gets to receive revenue.
Image source: Getty Images.
