Retirement Starts Today Radio

 The annual Social Security beneficiary report was recently released and just like every other year that they release it, it has caused people to worry about their future. Social Security is a crucial, foundational element of most retirement income plans, so when you read headlines that it will run out soon how should you react?  Should you go about changing your retirement plans altogether? Should you file for Social Security early to ensure you get the most out of your benefit? We’ll explore these questions in this episode of Retirement Starts Today. Outline of This Episode [1:52] Will Social Security run out in 12 years? [4:44] How to fix the Social Security math problem [11:20] What you should do to prepare for a Social Security pay cut Covid has exacerbated the Social Security funding crisis The recent report released by the government was unsurprising to anyone who has been paying attention. This year’s statement revealed that the Social Security trust fund will ‘run out of money’ in 12 years which is