✉news BusinessPersonal Finance first seen 2 h ago, last 22 min ago, peak #12
Social Security Cuts Loom, but Claiming Early Could Cost More
Original: Social Security Cuts May Be Coming, but a Self-Imposed Cut Could Slash Your Benefits Even More
Fears that Social Security benefits could face automatic cuts in the coming years are resurfacing, as trust fund projections continue to show a shortfall. Commentators warn that another, avoidable cut comes from claiming benefits too early: filing before full retirement age permanently reduces monthly payments, potentially doing more damage to lifetime income than any future legislative reduction.
Why now: Ongoing concern over Social Security's funding shortfall is pushing people to focus on how their own claiming decisions affect benefit levels
Social SecurityThe Motley FoolUnited States
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- Social Security Cuts May Be Coming, but a Self-Imposed Cut Could Slash Your Benefits Even More · The Motley Fool
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