The Cloud Over Social Security
In days gone by, the thought of retirement usually brought with it visions of leisure, comfort, and enjoyment for those later years. Things have changed these days, though, and the convergence of some serious factors have cast a bit of a cloud over the subject of life in retirement. Social Security’s long-term solvency issue, for example, with its implications of a future benefit reduction is one major negative. Another is the often-reported lack of accumulated savings by those approaching retirement and the looming possibility of seniors exhausting their financial reserves during retirement.
In a post today on host.madison.com, financial writer Wendy Connick takes a look at what she’s labeled a “retirement perfect storm,” stressing that there are steps folks can take to ward off some of the negatives in their personal situation. Likewise, know that the Association of Mature American Citizens (AMAC) is active in the quest to resolve Social Security’s long-term solvency dilemma, and has taken a leadership role in Washington with the crafting of a legislative framework for ensuring the program’s future for generations to come. This framework, titled “AMAC’s Social Security Guarantee” combines several strategies into a single pathway that can solve the problem without raising taxes.
Read Ms. Connick’s article here, then take a look at AMAC’s Social Security Guarantee here.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.