Social Security is not going bankrupt, but benefit cuts may be on the horizon due to a shrinking workforce and the trust funds running out of money in 2034. Planning now is key to coping with potential cuts, such as assessing spending, finding part-time work, or downsizing to leverage home equity. Lawmakers may have options to prevent benefit cuts, but it’s wise to prepare for reduced monthly checks. Consider boosting personal savings, exploring job opportunities, and downsizing to mitigate the impact of potential Social Security cuts in the future.

Read more at Nasdaq Inc.: Worried About Social Security Cuts? 3 Things to Do Now if You’re Already Retired.