Will Social Security really be cut by more than 20%?Should you claim early before the rules change? Or is the media exaggerating what’s actually happening?
In this episode, I will break down the latest Social Security Trustees Report, explain what the 2032 Trust Fund projection actually means, and discuss the newly introduced PROMISE Act designed to begin addressing the program’s long-term funding shortfall.
You’ll learn:
- What the Social Security Trust Fund actually is
- Why the Trust Fund is projected to be depleted around 2032
- Why Social Security isn’t expected to “go bankrupt”
- Whether claiming benefits early is a smart strategy
- How a potential 22% benefit reduction could affect a retirement plan
- What the new PROMISE Act does (and doesn’t do)
- The most likely changes Congress could make to strengthen Social Security
- Practical planning steps you can take today without overreacting to the headlines
If you’re approaching retirement or already retired, this episode will help you separate fact from fear and make more informed decisions about one of the most important income sources in your retirement plan.
~ Kevin
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This is for general education purposes only and should not be considered as tax, legal, or investment advice.
