By: Jeremy Mulvihill
on October 12, 2018
The final big issue for Social Security is that Congress doesn't seem to be in any rush to correct what looks to be an imminent cash shortfall for the program. Despite having more than a dozen Social Security fixes to choose from, including multiple options to raise revenue through taxation, as well as reduce benefits, Congress hasn't made any progress on getting a solution implemented. As long as Congress continues to push a Social Security solution under the rug, consumers are the one's who'll suffer.
The one thing you should be doing
With Social Security's long-term outlook uncertain, and a cut of up to 21% looming by 2034, now more than ever millennials and Gen Xers need to find ways to broaden their income channels come retirement. The easiest and smartest way to do this is by utilizing tax-advantaged investment vehicles. Continue Reading