The sooner you prepare, the less painful they might be.

There are many older Americans today who get a lot of their income from Social Security. And once you retire, you may end up in a position where you need those benefits to cover your expenses.

It's for this reason that the idea of Social Security cuts is so scary. And unfortunately, it's not just a rumor.

In the coming years, Social Security is anticipating a revenue shortfall as baby boomers exit the labor force in droves. While younger workers should be entering the labor force to help compensate, the rate of replacement workers is not expected to match the level of people exiting.

That's a problem for Social Security, since it gets the bulk of its revenue from payroll taxes. If that revenue stream shrinks at a time when baby

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