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73% of Americans Are Buying Into a Dangerous Social Security Myth

While it is a near universal program, Social Security continues to be misunderstood by most. Christy Bieber notes that those who believe the myth covered here are poised to make a bad decision based on false pretenses. According to a survey by TransAmerica Center for Retirement Studies, 73% of workers indicated they agreed with the statement, “I am concerned that when I am ready to retire, Social Security will not be there for me.” Bieber explains the upcoming insolvency facing the program but advises people not to grab benefits earlier than they need as a response to that. Full article here.

The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized.  This can be achieved with no tax increases by changing cost of living adjustments, the retirement age, and delayed credits.  AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own research.  One component is Social Security PLUS, a voluntary plan to allow all earners to have more income at retirement.  This component is intended to appeal especially to younger workers.  AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years.  Read AMAC’s plan here.
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