For many retirees, Social Security is an essential source of income. But unfortunately, it is also one that may soon become less reliable as available funds dry up.Per a recent projection by the Congressional Budget Office, “Social Security’s main retirement trust fund — formally known as the Old-Age and Survivors Insurance Trust Fund — will run out of reserves in 2032,” said Money Talks News. That would translate to “cuts starting at around 7% in 2032 and deepening to an average of about 28% per year from 2033 through 2036,” said the outlet, citing an analysis by Newsweek.
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