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Who Should Be Concerned With Social Security’s Future?
Everyone is the answer to who should be concerned with the future of Social Security’s finances, though the existence of the program itself is not in jeopardy. Maurie Backman cites a recent survey by Allianz that found that 80% of Americans are concerned about Social Security’s future. Backman details the insolvency predicted by 2033 or 2034, which if nothing is done before then means automatic cuts of 23% for all. She explains moves people not yet retired can make now with regard to saving more, IRA and 401k options, and a plan to delay benefits until up to age 70. Full article here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-accredited Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.