Part 7/8:
Stress Test Your Retirement Plan: Assess how a potential 20% reduction in benefits could affect your financial landscape.
Increase Your Savings Rate: Even minor adjustments in your contributions can foster growth over time, enhancing your financial security.
Diversify Income Sources: Relying solely on Social Security is risky. Consider building incomes through retirement accounts, rental properties, or part-time work.
Maintain Flexibility: Be prepared for possible lifestyle adjustments if required, such as delaying your retirement age or curtailing expenses.