A perfect storm of eroding Social Security trust funds, high unemployment and a flood of Baby Boomers all hitting retirement age at the same time will put enormous strain on Social Security for the next two decades, forcing retirees and their advisers to come up with alternative retirement income plans and strategies to make ends meet.

The Social Security Board of Trustees in its annual report to Congress warned that current Social Security trust funds will be exhausted in 2036, one year earlier than it predicted just last year.

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