Social Security Update! | 5 Facts Every Retiree Must Know (SS, SSI, SSDI)
#SSI #SSDI #SocialSecurity #VA
Deb Boyden, Head of U.S. Defined Contribution at Schroders, highlighted in the survey that there is a crisis of confidence in the Social Security system, resulting in financial consequences for American workers. In response to this, we outline 5 crucial facts about Social Security every retiree must know.
1. Funding Shortfall by 2034
2. Prepare for Reduced Payouts
3. Historical Fixes Without Impacting Near-Retirees
4. Delay Claiming Benefits
5. Consideration for Highest Household Earner
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Disclaimer: The information I discuss is solely based on publicly available news sources, based on my own personal understanding and interpretation, and should not be considered an alternative to receiving proper guidance from a trained financial, tax, or retirement professional.