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How the Budget Bill Affects You

The recent federal budget bill put in to place some pretty big changes to how people are thinking of their retirements. With all the talk about changes, you might have missed the fact that there will be no changes for those already collecting Social Security or for those already at retirement age planning on filing for benefits before April 29 of next year. If you are already collecting Social Security using the loopholes being closed then you are effectively grandfathered in under the old system and should see no new changes to how you collect your benefits. If, however, you are at retirement age and are not already collecting, then you have until April to take advantage of the strategies being closed down. For more information on this, visit this article by Jean Chatzky with BankRate.

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