Social Security Commissioner: "Everything's Being Considered" to Avoid a 24% Benefit Cut

You're not alone if you're worried about running out of money in retirement. You do what you can to save on your own, but it's tough to know whether you've set aside enough. Social Security's looming insolvency doesn't help, either.We're now less than a decade from a 24% benefit cut, according to the Committee for a Responsible Federal Budget. There's still time for the government to step in and reform the program to avoid this, and "everything's being considered," according to Social Security Commissioner Frank Bisignano in a recent interview. While it might be comforting to know that Washington isn't going to allow seniors to lose a quarter of their checks overnight, the lack of a concrete plan leaves the future for workers and retirees uncertain. One thing people do know is that some of them are going to have to foot a pretty big bill before the decade is out.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool