Skip to main content
No. of Recommendations: 3
And, y'know, none of these projections and scenarios account for the possibility of what might happen when the SSA "trust fund" [*} runs out in 2033 (or earlier).

If SSA benefits are cut by 24%, do you think it will happen across the board? Grandma who has only SS income and millionaires who are collecting a 32% bonus because they deferred to 70----Congress is going to let both of them get cut by 24%? You can write the headlines now. "Greedy millionaires want grannie to starve on catfood."

More likely, the folks who got 32% extra by deferring will get cut back to 100% of their FRA, THEN will get the across-the-board 24% cut.



None of those things will happen. If Congress tried to cut benefits for current or soon-to-be retirees there would be riots. What will happen is there will be some combination of tax increases and benefit cuts for future retirees, probably people 50 and under.
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.