4 Ways Your Retirement Could Take a Few Turns by the End of Trump’s Second Term
View original at finance.yahoo.com4 Ways Your Retirement Could Take a Few Turns by the End of Trump’s Second Term Not only do you need to buckle up your already tightened retirement belt, but in times of political unrest and economic volatility, it’s best to remember to remain calm and keep planning for retirement the best way you can…
What we drew from this source
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There should not be any immediate change to Social Security benefits under the current administration
60% confidenceThe Tax Cuts and Jobs Act was originally supposed to expire at the end of 2025
60% confidenceRetirees will receive 100% of their Social Security benefits through at least 2033
60% confidenceAfter 2033 the Social Security Trust Fund will be all but wiped out and the government will only be able to pay about 77% of earned benefits from ongoing payroll tax revenue
60% confidenceSocial Security continues to pay benefits as scheduled unless Congress formally changes the law or there is a government shutdown
60% confidenceShifts in tax rates can directly shape retirement withdrawals, investment decisions, and estate planning
60% confidenceThe White House administration has been laying off employees and closing Social Security field offices, causing added delays and longer waits for Americans needing to resolve Social Security issues
60% confidenceRetirement security should not depend on any single presidency but rather on proactive planning, strategic adjustments, and staying informed
60% confidence
Data points we hold from this source
| Social Security Administration · benefit payment rate | 77 percent |