The US Government and the Social Security Administration is trying to keep the funding feasible going forward. This ever evolving issue requires further changes to have all eligible retiring Americans receive their full benefits. If this isn’t accomplished there may be a group retiring after 2035 that receive lower benefits. Late in 2015 some changes were made taking away some payout options for Social Security retirement benefits. This article digs into this topic further and the challenge of trying to figure our future social security retirement benefits and the impact on retirement planning.
David Strege, CFP®, AEP®, CAP®
Partner, Senior Financial Planner