Latest News
Rethinking your decision to file for Social Security. - The Motley Fool;; 401(k) Specialist
The gloomy 2025 Board of Social Security trustees report may have nudged you to think about filing for benefits before your full retirement age. If so, you might want to rethink that decision, says the writers at The Motley Fool. Their post yesterday on theglobeandmail.com offers some thought-provoking insight into how an overreaction to recent news could impact you later in life. Further, as evidence of the confusion surrounding Social Security’s future, 401(k) Specialist magazine’s Managing Editor Amanda Umpierrez, offers an analysis of the planning challenges facing future retirees. Check her comments out here.
The Motley Fool article also reminds us that the much-publicized 2033/2034 benefit cliff is not necessarily inevitable. Many proposals are emerging to provide Congress with ideas on resolving the insolvency problem, including a 14-point plan developed by the Association of Mature American Citizens. This plan, titled “AMAC’s Social Security Guarantee,” is a well-balanced approach to reforming the program for the 21st-century economy.