Writing Off Social Security?
Being fully aware of AMAC’s–the Association of Mature American Citizens’–efforts to address Social Security’s long-term solvency issue, and also being aware of several other initiatives active in Congress addressing this problem, a post today by The Motley Fool’s Maurie Backman titled “Here’s Why You Should Write Off Social Security” caught our attention. Although the article does point out that Social Security isn’t expected to vaporize, the title succeeded in ringing the alarm bell it intended to ring. Ms. Backman clarifies the point that future retirees banking on Social Security as a major part of their retirement financing need to re-think this strategy.
As Ms. Backman and many other pundits have often said, motivation to take personal responsibility for ensuring one’s financial well-being is a key prerequisite to a peaceful retirement. Her article discusses the sacrifices that may be necessary to achieve financial comfort in retirement, along with the opportunities available for those with time on their side. This latter point, by the way, is one of AMAC’s Social Security Guarantee key components…the Social Security Plus initiative designed to help folks amass the financial resources needed to supplement Social Security in their future retirement years.
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