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Social Security Retirement Benefits and Boomers…A Note of Caution
The often-reported absence of adequate savings by those intending to rely on Social Security benefits for a comfortable retirement suggests that there may be some rough waters ahead, according to a post by GoBankingRates’ Sean Fisher on their website. Fisher cites three general circumstances that could magnify the impact that an inadequate “nest egg” could have on the financial plans of future retirees:
- Not fully assessing the effect of Social Security’s pre-retirement income replacement design
- Being unrealistic about the adequacy of cost-of-living adjustments
- Misjudging the legislative changes that could be enacted to deal with Social Security’s looming insolvency
Perhaps a bit chilling, but nevertheless an important set of things to think about for those looking ahead to their “golden years.” Check out this article here.
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