I am not here to spread rumors or create panic, but it is important to be informed about potential changes that could impact your retirement. Social Security has been a stable source of income for retirees for many years, but there are concerns about its future sustainability.

According to reports from publications like ThinkAdvisor, the primary retirement fund for Social Security may be depleted by 2033, leading to potential cuts in benefits by 23%. This could impact retirees' budgets and force them to rely more heavily on other sources of income. It is essential to consider how these changes could affect your own retirement planning.

While it is uncertain whether Social Security will actually be depleted by 2033, it is crucial to be proactive and have a comprehensive retirement plan in place. This includes considering factors such as inflation, investment returns, and potential changes in Social Security benefits. It is important to regularly review and adjust your plan as needed to ensure you are prepared for any future changes.

Ultimately, the responsibility for securing a comfortable retirement lies with each individual. By staying informed, actively managing your retirement plan, and seeking professional guidance when needed, you can better prepare yourself for any potential challenges that may arise in the future.

Darryl Jarmosco, CFP®, ChFC®, specializes in retirement planning in Grand Haven, MI.

Securi'es offered through Registered Representa've of Cambridge Investment Research, Inc. a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Jarmosco Financial Advisory are not affiliated. Cambridge does not offer tax or legal advice. Fixed insurance services offered through Jarmosco Financial Advisory