If you rely on Social Security now—or plan to in the next decade—there’s a new warning you can’t afford to ignore. The Congressional Budget Office (CBO) has released updated projections showing that the program’s main trust fund could run out of money as early as 2032, triggering automatic cuts for tens of millions of retirees. According to the report, those cuts could reach as high as 28% if Congress fails to act. For the average retiree, that could mean hundreds of dollars lost every month at a time when living costs continue to rise. Here’s everything you need to know about what this means, why it’s happening, and what steps you can take now to protect your financial future.
