Social Security Cuts Could Be Less Than 10 Years Away. Buy These ETFs to Make Up for Them

Core Insights - Social Security is facing a financial crisis that requires legislative action, although it is not at risk of disappearing entirely [2][3] - Potential benefit cuts are likely within the next decade, influenced by revenue and legislative decisions regarding trust fund management [3] Investment Strategies - It is advisable for individuals nearing retirement to develop strategies to supplement Social Security income, with ETFs being a recommended option [4] - The Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) is highlighted for its focus on stable, high-dividend companies, making it suitable for retirees seeking steady income [5] - The Vanguard High Dividend Yield ETF (VYM) is noted for investing in established companies across various industries, which helps mitigate concentration risk [6] Risk Considerations - Investors are encouraged to assess their risk tolerance and ensure they are investing in funds with adequate yields to compensate for potential Social Security cuts [7][8]