Your confidence in Congress may affect when you claim Social Security
Most people already know that Social Security is facing some serious financial issues which could, in the future, lead to a cut in the benefits they are able to pay. So how do you decide whether ii’s smart to wait to apply until you are age 70, when you can get your maximum benefit, or whether you should just “take the money and run” at your full retirement age? Well, it depends a lot on how much faith you have in Congress’ ability to fix Social Security’s solvency woes. This MarketWatch article by Mark Hulbert explains why uncertainty about Social Security’s future makes forecasting tricky.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.